Modine Manufacturing (NYSE:MOD) Holdings Trimmed by Peregrine Asset Advisers Inc.

Peregrine Asset Advisers Inc. cut its holdings in Modine Manufacturing (NYSE:MOD) by 47.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,748 shares of the auto parts company’s stock after selling 26,542 shares during the quarter. Modine Manufacturing comprises about 1.3% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 26th biggest holding. Peregrine Asset Advisers Inc. owned 0.06% of Modine Manufacturing worth $3,449,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Creative Planning lifted its position in shares of Modine Manufacturing by 52.3% during the 3rd quarter. Creative Planning now owns 14,764 shares of the auto parts company’s stock valued at $1,961,000 after acquiring an additional 5,068 shares during the last quarter. Raymond James & Associates raised its position in shares of Modine Manufacturing by 15.8% during the third quarter. Raymond James & Associates now owns 30,812 shares of the auto parts company’s stock worth $4,092,000 after purchasing an additional 4,206 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Modine Manufacturing during the third quarter valued at $268,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Modine Manufacturing by 5.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 8,601 shares of the auto parts company’s stock valued at $1,142,000 after purchasing an additional 479 shares during the period. Finally, Modera Wealth Management LLC purchased a new position in Modine Manufacturing in the 3rd quarter worth about $214,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Price Performance

Shares of NYSE:MOD opened at $86.29 on Friday. The company’s fifty day moving average is $114.04 and its two-hundred day moving average is $119.71. The company has a market cap of $4.54 billion, a P/E ratio of 28.96, a price-to-earnings-growth ratio of 0.67 and a beta of 2.31. Modine Manufacturing has a 12-month low of $78.58 and a 12-month high of $146.84. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. Equities analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Oppenheimer upped their price objective on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st.

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.