Modine Manufacturing Company (NYSE:MOD) Shares Sold by Peregrine Asset Advisers Inc.

Peregrine Asset Advisers Inc. reduced its holdings in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 90.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,917 shares of the auto parts company's stock after selling 26,831 shares during the quarter. Peregrine Asset Advisers Inc.'s holdings in Modine Manufacturing were worth $224,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wasatch Advisors LP raised its stake in shares of Modine Manufacturing by 108.0% in 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 during the last quarter. Bank of New York Mellon Corp increased its position in Modine Manufacturing by 384.3% in the 1st quarter. Bank of New York Mellon Corp now owns 848,068 shares of the auto parts company's stock valued at $65,089,000 after acquiring an additional 672,960 shares during the period. Reinhart Partners LLC. grew its holdings in Modine Manufacturing by 187.3% in the first quarter. Reinhart Partners LLC. now owns 875,834 shares of the auto parts company's stock worth $67,220,000 after purchasing an additional 571,026 shares during the period. J. Goldman & Co LP bought a new position in shares of Modine Manufacturing in the fourth quarter valued at $43,201,000. Finally, Norges Bank bought a new position in shares of Modine Manufacturing during the fourth quarter valued at about $31,590,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Price Performance

Shares of NYSE:MOD traded up $0.34 during trading on Tuesday, hitting $94.05. 893,821 shares of the company were exchanged, compared to its average volume of 967,938. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $4.94 billion, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 0.64 and a beta of 2.04. The business's 50 day moving average is $96.50 and its 200-day moving average is $94.10. Modine Manufacturing Company has a 1-year low of $64.79 and a 1-year high of $146.84.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MOD shares. KeyCorp started coverage on shares of Modine Manufacturing in a report on Thursday, June 12th. They set an "overweight" rating and a $125.00 price target on the stock. Oppenheimer upped their price objective on shares of Modine Manufacturing from $121.00 to $122.00 and gave the company an "outperform" rating in a report on Tuesday, July 1st. Finally, Wall Street Zen upgraded Modine Manufacturing from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $135.50.

Modine Manufacturing Company 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.