Cookson Peirce & Co. Inc. Makes New Investment in Modine Manufacturing (NYSE:MOD)

Cookson Peirce & Co. Inc. acquired a new stake in shares of Modine Manufacturing (NYSE:MOD) during the 4th quarter, Holdings Channel.com reports. The firm acquired 3,407 shares of the auto parts company’s stock, valued at approximately $203,000.

Several other institutional investors have also modified their holdings of the business. DGS Capital Management LLC bought a new position in shares of Modine Manufacturing during the 4th quarter valued at about $261,000. Mackenzie Financial Corp bought a new position in shares of Modine Manufacturing during the 4th quarter valued at about $261,000. Strs Ohio lifted its holdings in shares of Modine Manufacturing by 28.6% during the 4th quarter. Strs Ohio now owns 3,600 shares of the auto parts company’s stock valued at $214,000 after purchasing an additional 800 shares in the last quarter. Williams & Novak LLC bought a new position in shares of Modine Manufacturing during the 4th quarter valued at about $444,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Modine Manufacturing by 528.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 96,219 shares of the auto parts company’s stock valued at $5,744,000 after purchasing an additional 80,908 shares in the last quarter. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Down 5.2 %

Shares of Modine Manufacturing stock opened at $85.64 on Thursday. The firm has a market cap of $4.47 billion, a PE ratio of 20.20, a P/E/G ratio of 0.69 and a beta of 2.29. Modine Manufacturing has a 52-week low of $19.41 and a 52-week high of $106.01. The business’s 50 day simple moving average is $88.26 and its 200 day simple moving average is $65.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.21 and a current ratio of 1.93.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, January 30th. The auto parts company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.17. The firm had revenue of $561.40 million for the quarter, compared to analyst estimates of $594.84 million. Modine Manufacturing had a return on equity of 25.28% and a net margin of 9.31%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.48 EPS. On average, analysts predict that Modine Manufacturing will post 3.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Modine Manufacturing news, VP Brian Jon Agen sold 16,799 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $95.64, for a total transaction of $1,606,656.36. Following the transaction, the vice president now owns 102,409 shares of the company’s stock, valued at approximately $9,794,396.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Christopher William Patterson sold 14,225 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $90.56, for a total transaction of $1,288,216.00. Following the completion of the transaction, the director now directly owns 97,517 shares in the company, valued at approximately $8,831,139.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brian Jon Agen sold 16,799 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $95.64, for a total value of $1,606,656.36. Following the transaction, the vice president now owns 102,409 shares of the company’s stock, valued at $9,794,396.76. The disclosure for this sale can be found here. Insiders have sold 113,336 shares of company stock valued at $10,330,115 in the last 90 days. 2.86% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MOD. DA Davidson reiterated a “buy” rating and set a $90.00 price objective on shares of Modine Manufacturing in a report on Tuesday, February 27th. Oppenheimer assumed coverage on Modine Manufacturing in a research report on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 target price on the stock. B. Riley reissued a “buy” rating and issued a $98.00 target price (up previously from $88.00) on shares of Modine Manufacturing in a research report on Tuesday, February 27th. Finally, StockNews.com lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Modine Manufacturing currently has an average rating of “Moderate Buy” and a consensus target price of $97.67.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.