Modine Manufacturing Company $MOD Stake Raised by Brown Advisory Inc.

Brown Advisory Inc. lifted its stake in Modine Manufacturing Company (NYSE:MOD) by 2.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 513,801 shares of the auto parts company’s stock after purchasing an additional 11,260 shares during the quarter. Brown Advisory Inc. owned 0.98% of Modine Manufacturing worth $50,609,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in MOD. Parkside Financial Bank & Trust boosted its position in Modine Manufacturing by 2,025.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock worth $42,000 after acquiring an additional 405 shares during the period. Maseco LLP acquired a new stake in shares of Modine Manufacturing during the second quarter worth approximately $51,000. GAMMA Investing LLC grew its position in Modine Manufacturing by 52.6% during the second quarter. GAMMA Investing LLC now owns 560 shares of the auto parts company’s stock valued at $55,000 after purchasing an additional 193 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in Modine Manufacturing in the 2nd quarter valued at approximately $57,000. Finally, Allworth Financial LP lifted its position in Modine Manufacturing by 522.4% in the 2nd quarter. Allworth Financial LP now owns 722 shares of the auto parts company’s stock worth $71,000 after buying an additional 606 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Insider Activity

In other Modine Manufacturing news, CEO Neil David Brinker sold 31,871 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total value of $5,117,207.76. Following the sale, the chief executive officer directly owned 238,312 shares in the company, valued at approximately $38,263,374.72. This trade represents a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.48% of the company’s stock.

Analyst Upgrades and Downgrades

MOD has been the subject of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday. DA Davidson reissued a “buy” rating and issued a $200.00 price objective on shares of Modine Manufacturing in a research note on Wednesday, November 19th. Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. KeyCorp increased their price target on Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Finally, Oppenheimer lifted their price target on shares of Modine Manufacturing from $145.00 to $180.00 and gave the company an “outperform” rating in a research report on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $182.00.

Modine Manufacturing Stock Performance

NYSE:MOD opened at $162.89 on Friday. The firm has a 50 day moving average of $151.40 and a 200-day moving average of $128.60. Modine Manufacturing Company has a 1 year low of $64.79 and a 1 year high of $166.94. The stock has a market capitalization of $8.58 billion, a P/E ratio of 47.08, a price-to-earnings-growth ratio of 1.02 and a beta of 1.69. The company has a current ratio of 2.00, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, October 28th. The auto parts company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.09. Modine Manufacturing had a net margin of 6.93% and a return on equity of 23.19%. The firm had revenue of $738.90 million during the quarter, compared to analysts’ expectations of $699.91 million. During the same quarter in the previous year, the company posted $0.97 EPS. Modine Manufacturing’s revenue was up 12.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

About Modine Manufacturing

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.