Perigon Wealth Management LLC Acquires 12,950 Shares of Modine Manufacturing Company $MOD

Perigon Wealth Management LLC grew its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 583.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 15,171 shares of the auto parts company’s stock after acquiring an additional 12,950 shares during the quarter. Perigon Wealth Management LLC’s holdings in Modine Manufacturing were worth $2,025,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Modine Manufacturing by 1.9% in the third quarter. Vanguard Group Inc. now owns 5,080,874 shares of the auto parts company’s stock worth $722,297,000 after acquiring an additional 97,035 shares during the period. Wasatch Advisors LP increased its position in Modine Manufacturing by 1.4% during the 2nd quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock valued at $176,553,000 after purchasing an additional 23,955 shares during the period. State Street Corp raised its holdings in Modine Manufacturing by 4.2% in the 2nd quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock worth $128,985,000 after purchasing an additional 53,351 shares in the last quarter. Capital Research Global Investors bought a new position in Modine Manufacturing in the 3rd quarter worth $184,610,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Modine Manufacturing by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,171,497 shares of the auto parts company’s stock worth $166,540,000 after purchasing an additional 151,543 shares during the period. Institutional investors own 95.23% of the company’s stock.

Insider Buying and Selling

In related news, Director Suresh V. Garimella sold 1,100 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $184.07, for a total transaction of $202,477.00. Following the sale, the director directly owned 79,856 shares of the company’s stock, valued at approximately $14,699,093.92. This represents a 1.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MOD. Glj Research began coverage on shares of Modine Manufacturing in a research note on Monday, March 30th. They set a “buy” rating and a $290.00 target price on the stock. Zacks Research upgraded shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. DA Davidson reaffirmed a “buy” rating and set a $265.00 price objective on shares of Modine Manufacturing in a research report on Tuesday, March 31st. Roth Mkm began coverage on Modine Manufacturing in a report on Wednesday, February 18th. They set a “buy” rating and a $263.00 target price on the stock. Finally, Oppenheimer increased their target price on Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Modine Manufacturing presently has a consensus rating of “Buy” and a consensus target price of $234.33.

Modine Manufacturing Stock Down 0.1%

Shares of NYSE:MOD opened at $219.11 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. The stock has a fifty day simple moving average of $207.22 and a two-hundred day simple moving average of $167.29. Modine Manufacturing Company has a 12-month low of $64.79 and a 12-month high of $243.80. The stock has a market capitalization of $11.55 billion, a price-to-earnings ratio of 121.73, a PEG ratio of 0.89 and a beta of 1.68.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The firm had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $763.54 million. During the same period in the prior year, the firm posted $0.92 earnings per share. The company’s quarterly revenue was up 30.5% on a year-over-year basis. On average, research analysts anticipate that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.