Emerald Advisers LLC Grows Position in Modine Manufacturing Company $MOD

Emerald Advisers LLC raised its stake in Modine Manufacturing Company (NYSE:MOD) by 21.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 391,719 shares of the auto parts company’s stock after acquiring an additional 69,162 shares during the period. Modine Manufacturing makes up 1.8% of Emerald Advisers LLC’s portfolio, making the stock its 8th biggest position. Emerald Advisers LLC owned approximately 0.75% of Modine Manufacturing worth $55,687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of MOD. Allspring Global Investments Holdings LLC grew its position in Modine Manufacturing by 13.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 84,616 shares of the auto parts company’s stock worth $12,512,000 after purchasing an additional 9,989 shares during the period. Schear Investment Advisers LLC purchased a new position in shares of Modine Manufacturing in the 2nd quarter worth $1,547,000. Park Avenue Securities LLC purchased a new position in shares of Modine Manufacturing in the 2nd quarter worth $260,000. F m Investments LLC grew its holdings in shares of Modine Manufacturing by 12.7% in the second quarter. F m Investments LLC now owns 57,972 shares of the auto parts company’s stock worth $5,710,000 after acquiring an additional 6,510 shares during the period. Finally, Pembroke Management LTD purchased a new stake in Modine Manufacturing during the third quarter valued at $30,506,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MOD. Oppenheimer raised their target price on Modine Manufacturing from $145.00 to $180.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 14th. KeyCorp increased their price objective on shares of Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Zacks Research downgraded shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. Finally, UBS Group initiated coverage on shares of Modine Manufacturing in a research report on Thursday, November 20th. They issued a “buy” rating and a $173.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Modine Manufacturing currently has an average rating of “Moderate Buy” and an average target price of $182.00.

Modine Manufacturing Stock Performance

Shares of NYSE MOD opened at $143.58 on Thursday. The stock has a market cap of $7.56 billion, a PE ratio of 41.50, a price-to-earnings-growth ratio of 0.87 and a beta of 1.70. Modine Manufacturing Company has a 1 year low of $64.79 and a 1 year high of $166.94. The firm has a fifty day moving average price of $141.01 and a 200-day moving average price of $138.36. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 1.16.

Modine Manufacturing (NYSE:MOD) last issued its earnings results 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 company had revenue of $738.90 million during the quarter, compared to the consensus estimate of $699.91 million. During the same quarter in the prior year, the firm posted $0.97 EPS. Modine Manufacturing’s quarterly revenue was up 12.3% compared to the same quarter last year. Equities analysts anticipate that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Neil David Brinker sold 31,871 shares of Modine Manufacturing stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the sale, the chief executive officer owned 238,312 shares of the company’s stock, valued at approximately $38,263,374.72. This trade represents a 11.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.48% of the company’s stock.

About Modine Manufacturing

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.