Oppenheimer Asset Management Inc. Raises Stock Position in Modine Manufacturing (NYSE:MOD)

Oppenheimer Asset Management Inc. boosted its position in Modine Manufacturing (NYSE:MOD - Free Report) by 526.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 13,585 shares of the auto parts company's stock after purchasing an additional 11,416 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Modine Manufacturing were worth $1,804,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in Modine Manufacturing in the 1st quarter valued at $37,000. Opal Wealth Advisors LLC purchased a new position in Modine Manufacturing in the 2nd quarter worth $51,000. West Oak Capital LLC increased its position in shares of Modine Manufacturing by 300.0% in the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company's stock valued at $60,000 after acquiring an additional 450 shares during the period. Fifth Third Bancorp purchased a new position in shares of Modine Manufacturing in the second quarter valued at about $64,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Modine Manufacturing in the second quarter valued at about $68,000. 95.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

MOD has been the topic of a number of research reports. DA Davidson lifted their target price on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a "buy" rating in a research note on Tuesday, September 24th. William Blair initiated coverage on shares of Modine Manufacturing in a report on Monday, July 29th. They issued an "outperform" rating for the company. B. Riley lifted their target price on shares of Modine Manufacturing from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Finally, Oppenheimer boosted their price objective on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $146.67.

Modine Manufacturing Stock Performance

MOD stock traded up $2.66 during trading on Monday, reaching $125.93. The company had a trading volume of 231,662 shares, compared to its average volume of 851,259. The firm has a 50-day simple moving average of $125.01 and a 200-day simple moving average of $111.13. The company has a market cap of $6.61 billion, a price-to-earnings ratio of 40.42, a price-to-earnings-growth ratio of 0.95 and a beta of 2.25. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.09 and a current ratio of 1.77. Modine Manufacturing has a twelve month low of $48.88 and a twelve month high of $141.72.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.05. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The company had revenue of $658.00 million during the quarter, compared to analyst estimates of $646.86 million. During the same period last year, the firm posted $0.89 EPS. Modine Manufacturing's revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, sell-side analysts expect that Modine Manufacturing will post 3.83 earnings per share for the current 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.