Modine Manufacturing (NYSE:MOD) Shares Sold by Peregrine Asset Advisers Inc.

Peregrine Asset Advisers Inc. cut its stake in shares of Modine Manufacturing (NYSE:MOD) by 50.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 73,461 shares of the auto parts company’s stock after selling 76,286 shares during the quarter. Modine Manufacturing accounts for approximately 2.1% of Peregrine Asset Advisers Inc.’s holdings, making the stock its 11th biggest position. Peregrine Asset Advisers Inc. owned approximately 0.14% of Modine Manufacturing worth $4,386,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MOD. SummerHaven Investment Management LLC lifted its stake in shares of Modine Manufacturing by 0.9% in the fourth quarter. SummerHaven Investment Management LLC now owns 20,895 shares of the auto parts company’s stock valued at $1,247,000 after purchasing an additional 192 shares during the period. Nisa Investment Advisors LLC raised its holdings in Modine Manufacturing by 51.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,172 shares of the auto parts company’s stock valued at $70,000 after acquiring an additional 400 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Modine Manufacturing by 3.3% during the 4th quarter. Jennison Associates LLC now owns 15,233 shares of the auto parts company’s stock worth $909,000 after buying an additional 493 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Modine Manufacturing by 49.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,206 shares of the auto parts company’s stock worth $101,000 after buying an additional 734 shares during the last quarter. Finally, Strs Ohio increased 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 worth $214,000 after buying an additional 800 shares during the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on MOD shares. DA Davidson reaffirmed a “buy” rating and set a $90.00 price target on shares of Modine Manufacturing in a research report on Tuesday, February 27th. StockNews.com cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. B. Riley reaffirmed a “buy” rating and set a $98.00 price target (up from $88.00) on shares of Modine Manufacturing in a research report on Tuesday, February 27th. Finally, Oppenheimer initiated coverage on shares of Modine Manufacturing in a research report on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Modine Manufacturing has a consensus rating of “Moderate Buy” and an average price target of $97.67.

Insider Activity

In other news, CFO Michael B. Lucareli sold 82,312 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $90.33, for a total value of $7,435,242.96. Following the sale, the chief financial officer now owns 194,587 shares in the company, valued at approximately $17,577,043.71. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Christopher William Patterson sold 14,225 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $90.56, for a total transaction of $1,288,216.00. Following the sale, the director now owns 97,517 shares in the company, valued at $8,831,139.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael B. Lucareli sold 82,312 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the sale, the chief financial officer now owns 194,587 shares in the company, valued at approximately $17,577,043.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,336 shares of company stock worth $10,330,115. 2.86% of the stock is currently owned by corporate insiders.

Modine Manufacturing Stock Up 7.2 %

Shares of Modine Manufacturing stock traded up $6.81 during trading on Monday, reaching $100.92. The company had a trading volume of 874,472 shares, compared to its average volume of 958,013. The company has a market cap of $5.27 billion, a price-to-earnings ratio of 23.80, a price-to-earnings-growth ratio of 0.72 and a beta of 2.28. The firm’s fifty day moving average is $91.81 and its 200-day moving average is $70.10. 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 has a fifty-two week low of $19.53 and a fifty-two week high of $106.01.

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.