Modine Manufacturing Company $MOD Shares Sold by Emerald Advisers LLC

Emerald Advisers LLC reduced its stake in shares of Modine Manufacturing Company (NYSE:MOD) by 3.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 378,118 shares of the auto parts company’s stock after selling 11,817 shares during the period. Modine Manufacturing makes up about 2.6% of Emerald Advisers LLC’s holdings, making the stock its largest holding. Emerald Advisers LLC’s holdings in Modine Manufacturing were worth $81,942,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MOD. Wellington Management Group LLP lifted its stake in Modine Manufacturing by 4.7% in the fourth quarter. Wellington Management Group LLP now owns 2,879,299 shares of the auto parts company’s stock valued at $384,415,000 after buying an additional 130,511 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Modine Manufacturing by 31.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock worth $311,503,000 after acquiring an additional 560,131 shares during the last quarter. Wasatch Advisors LP grew its position in shares of Modine Manufacturing by 1.4% during the second quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock worth $176,553,000 after acquiring an additional 23,955 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Modine Manufacturing by 13.8% in the 4th quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock worth $197,358,000 after acquiring an additional 179,617 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Modine Manufacturing by 120.4% in the 4th quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock worth $176,037,000 after acquiring an additional 720,389 shares during the period. 95.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Modine Manufacturing

In other news, insider Eric S. Mcginnis sold 1,020 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $295.06, for a total value of $300,961.20. Following the completion of the sale, the insider directly owned 28,364 shares of the company’s stock, valued at approximately $8,369,081.84. This represents a 3.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eric D. Ashleman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the completion of the transaction, the director owned 42,350 shares of the company’s stock, valued at $12,219,669. This trade represents a 26.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 54,302 shares of company stock valued at $15,928,759. Company insiders own 2.48% of the company’s stock.

Analyst Ratings Changes

MOD has been the topic of several recent research reports. KeyCorp lifted their price objective on shares of Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. B. Riley Financial upped their target price on shares of Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Glj Research restated a “buy” rating and issued a $428.00 price target on shares of Modine Manufacturing in a research note on Monday, June 1st. DA Davidson reaffirmed a “buy” rating and set a $330.00 price target on shares of Modine Manufacturing in a report on Monday, June 22nd. Finally, Weiss Ratings upgraded Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $327.14.

Modine Manufacturing Price Performance

Shares of MOD opened at $233.94 on Tuesday. The firm has a market capitalization of $12.36 billion, a price-to-earnings ratio of 104.44, a price-to-earnings-growth ratio of 0.80 and a beta of 1.67. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94. Modine Manufacturing Company has a one year low of $88.48 and a one year high of $323.25. The stock’s fifty day moving average is $269.36 and its 200-day moving average is $221.89.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.20. The business had revenue of $954.40 million for the quarter, compared to analysts’ expectations of $920.67 million. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The company’s revenue was up 47.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.12 earnings per share. Equities analysts anticipate that Modine Manufacturing Company will post 7.73 EPS for the current 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.