Stratos Wealth Partners LTD. Trims Position in Modine Manufacturing (NYSE:MOD)

Stratos Wealth Partners LTD. trimmed its position in Modine Manufacturing (NYSE:MOD) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 56,558 shares of the auto parts company’s stock after selling 1,192 shares during the period. Stratos Wealth Partners LTD. owned about 0.11% of Modine Manufacturing worth $7,510,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MOD. Vanguard Group Inc. increased its holdings in Modine Manufacturing by 27.3% during the first quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock valued at $372,099,000 after buying an additional 838,460 shares during the last quarter. Capital International Investors increased its stake in shares of Modine Manufacturing by 40.6% in the 1st quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company’s stock worth $135,726,000 after purchasing an additional 411,946 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in Modine Manufacturing by 32.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock worth $110,403,000 after purchasing an additional 272,174 shares during the period. Hennessy Advisors Inc. lifted its position in Modine Manufacturing by 20.4% during the first quarter. Hennessy Advisors Inc. now owns 714,400 shares of the auto parts company’s stock valued at $68,004,000 after purchasing an additional 121,200 shares in the last quarter. Finally, Fred Alger Management LLC grew its holdings in Modine Manufacturing by 5.1% during the second quarter. Fred Alger Management LLC now owns 369,840 shares of the auto parts company’s stock valued at $37,054,000 after purchasing an additional 17,889 shares during the period. 95.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. William Blair began coverage on Modine Manufacturing in a research note on Monday, July 29th. They issued an “outperform” rating on the stock. DA Davidson increased their target price on Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. B. Riley boosted their price target on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Oppenheimer upped their price target on Modine Manufacturing from $135.00 to $144.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $146.33.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of Modine Manufacturing stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $109.74, for a total value of $3,775,056.00. Following the completion of the transaction, the director now directly owns 144,038 shares of the company’s stock, valued at $15,806,730.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.40% of the stock is owned by insiders.

Modine Manufacturing Trading Down 2.0 %

Shares of MOD stock opened at $132.79 on Friday. The stock’s 50-day moving average price is $119.69 and its 200-day moving average price is $106.44. Modine Manufacturing has a 12-month low of $38.50 and a 12-month high of $141.72. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of 43.83, a price-to-earnings-growth ratio of 1.02 and a beta of 2.22. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.18. The business had revenue of $661.50 million for the quarter, compared to the consensus estimate of $633.55 million. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 EPS. Equities research analysts predict that Modine Manufacturing will post 3.86 EPS for the current fiscal year.

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.