Oppenheimer & Co. Inc. Sells 3,858 Shares of Modine Manufacturing Company (NYSE:MOD)

Oppenheimer & Co. Inc. lessened its holdings in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 7.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,034 shares of the auto parts company's stock after selling 3,858 shares during the quarter. Oppenheimer & Co. Inc. owned approximately 0.09% of Modine Manufacturing worth $3,533,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MOD. Wasatch Advisors LP raised its holdings in shares of Modine Manufacturing by 108.0% during the fourth quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company's stock valued at $165,596,000 after acquiring an additional 741,667 shares in the last quarter. Reinhart Partners LLC. raised its holdings in shares of Modine Manufacturing by 187.3% during the first quarter. Reinhart Partners LLC. now owns 875,834 shares of the auto parts company's stock valued at $67,220,000 after acquiring an additional 571,026 shares in the last quarter. J. Goldman & Co LP bought a new position in shares of Modine Manufacturing during the fourth quarter valued at approximately $43,201,000. Norges Bank purchased a new stake in Modine Manufacturing in the fourth quarter worth $31,590,000. Finally, T. Rowe Price Investment Management Inc. grew its stake in Modine Manufacturing by 27.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,207,181 shares of the auto parts company's stock worth $139,949,000 after purchasing an additional 262,936 shares during the period. Institutional investors own 95.23% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on MOD. DA Davidson reaffirmed a "buy" rating and issued a $155.00 price target on shares of Modine Manufacturing in a research note on Monday, March 17th. Wall Street Zen raised Modine Manufacturing from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. KeyCorp began coverage on Modine Manufacturing in a research note on Thursday, June 12th. They issued an "overweight" rating and a $125.00 price target on the stock. Finally, Oppenheimer upped their price target on Modine Manufacturing from $114.00 to $121.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Modine Manufacturing has a consensus rating of "Buy" and a consensus price target of $135.25.

Modine Manufacturing Stock Down 0.2%

Shares of NYSE MOD traded down $0.18 during trading on Friday, reaching $101.57. The company had a trading volume of 1,192,163 shares, compared to its average volume of 944,037. Modine Manufacturing Company has a 12-month low of $64.79 and a 12-month high of $146.84. The stock has a market cap of $5.32 billion, a PE ratio of 29.70, a P/E/G ratio of 0.66 and a beta of 2.06. The business's 50-day moving average is $92.52 and its 200 day moving average is $96.54. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.32.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.16. The firm had revenue of $647.20 million for the quarter, compared to the consensus estimate of $633.13 million. Modine Manufacturing had a return on equity of 25.31% and a net margin of 7.12%. The company's quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share. As a group, equities analysts forecast that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing declared that its Board of Directors has initiated a share repurchase plan on Friday, March 7th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the auto parts company to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.

Modine Manufacturing Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.