Oppenheimer Asset Management Inc. Invests $217,000 in Modine Manufacturing (NYSE:MOD)

Oppenheimer Asset Management Inc. bought a new position in shares of Modine Manufacturing (NYSE:MOD) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 2,169 shares of the auto parts company’s stock, valued at approximately $217,000.

A number of other large investors also recently made changes to their positions in MOD. Principal Securities Inc. bought a new position in shares of Modine Manufacturing during the fourth quarter worth approximately $29,000. Acadian Asset Management LLC bought a new position in shares of Modine Manufacturing during the first quarter worth approximately $37,000. Opal Wealth Advisors LLC bought a new position in shares of Modine Manufacturing during the second quarter worth approximately $51,000. West Oak Capital LLC increased its stake in shares of Modine Manufacturing by 300.0% during the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock worth $60,000 after purchasing an additional 450 shares during the period. Finally, Fifth Third Bancorp bought a new position in shares of Modine Manufacturing during the second quarter worth approximately $64,000. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Trading Up 0.6 %

Shares of MOD stock opened at $128.32 on Monday. The stock’s fifty day moving average price is $109.01 and its two-hundred day moving average price is $100.87. The company has a market cap of $6.72 billion, a PE ratio of 42.35, a P/E/G ratio of 0.83 and a beta of 2.22. Modine Manufacturing has a fifty-two week low of $38.50 and a fifty-two week high of $130.53. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.80.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.18. The firm 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 last year, the business posted $0.85 EPS. Equities analysts predict that Modine Manufacturing will post 3.85 EPS for the current fiscal year.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $109.74, for a total value of $3,775,056.00. Following the sale, the director now owns 144,038 shares of the company’s stock, valued at approximately $15,806,730.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MOD. B. Riley increased their price target on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. William Blair began coverage on Modine Manufacturing in a research report on Monday, July 29th. They set an “outperform” rating on the stock. Oppenheimer reissued an “outperform” rating and set a $135.00 price target on shares of Modine Manufacturing in a research report on Thursday, September 12th. Finally, DA Davidson increased their price target on Modine Manufacturing from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Modine Manufacturing has a consensus rating of “Moderate Buy” and an average target price of $138.33.

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.