Stratos Wealth Partners LTD. Sells 22,659 Shares of Modine Manufacturing Company (NYSE:MOD)

Stratos Wealth Partners LTD. lessened its holdings in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 40.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,497 shares of the auto parts company's stock after selling 22,659 shares during the quarter. Stratos Wealth Partners LTD. owned approximately 0.06% of Modine Manufacturing worth $2,571,000 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 the business. Vanguard Group Inc. raised its holdings in Modine Manufacturing by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 5,058,967 shares of the auto parts company's stock worth $586,486,000 after purchasing an additional 70,581 shares in the last quarter. Invesco Ltd. raised its holdings in Modine Manufacturing by 1.0% in the fourth quarter. Invesco Ltd. now owns 2,012,533 shares of the auto parts company's stock worth $233,313,000 after purchasing an additional 20,085 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in Modine Manufacturing by 2.8% in the fourth quarter. Driehaus Capital Management LLC now owns 1,439,980 shares of the auto parts company's stock worth $166,937,000 after purchasing an additional 39,193 shares in the last quarter. Wasatch Advisors LP raised its holdings in 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 worth $165,596,000 after purchasing an additional 741,667 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings 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 in the last quarter. Institutional investors own 95.23% of the company's stock.

Modine Manufacturing Stock Performance

Shares of Modine Manufacturing stock traded down $0.55 during trading on Friday, hitting $92.10. 981,878 shares of the company's stock traded hands, compared to its average volume of 962,149. 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 Company has a 1 year low of $64.79 and a 1 year high of $146.84. The stock has a market capitalization of $4.83 billion, a P/E ratio of 26.93, a PEG ratio of 0.60 and a beta of 2.04. The business has a 50-day simple moving average of $96.29 and a 200-day simple moving average of $95.43.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released 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 return on equity of 25.31% and a net margin of 7.12%. The company had revenue of $647.20 million for the quarter, compared to analysts' expectations of $633.13 million. During the same period last year, the firm posted $0.77 earnings per share. Modine Manufacturing's revenue was up 7.2% compared to the same quarter last year. As a group, analysts forecast that Modine Manufacturing Company will post 3.88 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wall Street Zen raised Modine Manufacturing from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. DA Davidson reissued a "buy" rating and issued a $155.00 target price on shares of Modine Manufacturing in a research note on Monday, March 17th. KeyCorp assumed coverage on Modine Manufacturing in a research note on Thursday, June 12th. They issued an "overweight" rating and a $125.00 target price on the stock. Finally, Oppenheimer increased their target price on Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $135.50.

About Modine Manufacturing

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.