Private Advisor Group LLC Sells 5,053 Shares of Modine Manufacturing Company (NYSE:MOD)

Private Advisor Group LLC reduced its stake in Modine Manufacturing Company (NYSE:MOD - Free Report) by 14.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 29,052 shares of the auto parts company's stock after selling 5,053 shares during the quarter. Private Advisor Group LLC owned 0.06% of Modine Manufacturing worth $2,230,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Modine Manufacturing by 63.1% in the first quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock valued at $28,000 after purchasing an additional 142 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Modine Manufacturing by 245.9% in the first quarter. Versant Capital Management Inc now owns 422 shares of the auto parts company's stock valued at $32,000 after buying an additional 300 shares during the period. Central Pacific Bank Trust Division purchased a new position in shares of Modine Manufacturing during the 1st quarter valued at $46,000. First Horizon Advisors Inc. lifted its position in shares of Modine Manufacturing by 442.4% during the 1st quarter. First Horizon Advisors Inc. now owns 640 shares of the auto parts company's stock valued at $49,000 after buying an additional 522 shares during the last quarter. Finally, LRI Investments LLC grew its stake in shares of Modine Manufacturing by 84.4% during the 1st quarter. LRI Investments LLC now owns 1,612 shares of the auto parts company's stock worth $124,000 after acquiring an additional 738 shares during the period. Institutional investors own 95.23% of the company's stock.

Wall Street Analyst Weigh In

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

Modine Manufacturing Price Performance

MOD stock traded up $5.63 during mid-day trading on Friday, reaching $103.50. 1,437,381 shares of the company traded hands, compared to its average volume of 1,051,686. The company has a fifty day moving average price of $95.91 and a 200-day moving average price of $93.64. Modine Manufacturing Company has a 52-week low of $64.79 and a 52-week high of $146.84. The company has a market capitalization of $5.43 billion, a P/E ratio of 30.26, a P/E/G ratio of 0.64 and a beta of 2.04. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.78 and a quick ratio of 1.15.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $647.20 million during the quarter, compared to analysts' expectations of $633.13 million. During the same quarter in the previous year, the company earned $0.77 earnings per share. Modine Manufacturing's revenue for the quarter was up 7.2% on a year-over-year basis. As a group, analysts anticipate that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

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.