Emerald Mutual Fund Advisers Trust Increases Position in Modine Manufacturing Company $MOD

Emerald Mutual Fund Advisers Trust lifted its stake in shares of Modine Manufacturing Company (NYSE:MOD) by 26.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 234,076 shares of the auto parts company’s stock after buying an additional 48,506 shares during the quarter. Modine Manufacturing comprises 1.7% of Emerald Mutual Fund Advisers Trust’s portfolio, making the stock its 10th largest position. Emerald Mutual Fund Advisers Trust owned approximately 0.45% of Modine Manufacturing worth $33,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. First Horizon Corp bought a new stake in Modine Manufacturing during the 3rd quarter valued at approximately $38,000. Parkside Financial Bank & Trust lifted its stake in shares of Modine Manufacturing by 2,025.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock valued at $42,000 after purchasing an additional 405 shares during the period. Maseco LLP purchased a new position in shares of Modine Manufacturing in the 2nd quarter valued at approximately $51,000. GAMMA Investing LLC boosted its position in shares of 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. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Modine Manufacturing in the second quarter worth $57,000. 95.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on MOD shares. DA Davidson reissued a “buy” rating and set a $200.00 price objective on shares of Modine Manufacturing in a research report on Wednesday, November 19th. KeyCorp increased their price target 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. 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. Zacks Research lowered shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Modine Manufacturing presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.00.

Modine Manufacturing Stock Performance

Shares of Modine Manufacturing stock opened at $147.36 on Friday. Modine Manufacturing Company has a 1 year low of $64.79 and a 1 year high of $166.94. The firm’s 50-day moving average is $141.39 and its 200 day moving average is $138.42. The stock has a market cap of $7.76 billion, a price-to-earnings ratio of 42.59, a PEG ratio of 0.91 and a beta of 1.70. 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 released its quarterly earnings data on Tuesday, October 28th. The auto parts company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.09. The business had revenue of $738.90 million during the quarter, compared to analyst estimates of $699.91 million. Modine Manufacturing had a net margin of 6.93% and a return on equity of 23.19%. Modine Manufacturing’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the business earned $0.97 EPS. Sell-side analysts anticipate that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Neil David Brinker sold 31,871 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total value of $5,117,207.76. Following the transaction, the chief executive officer directly owned 238,312 shares of the company’s stock, valued at approximately $38,263,374.72. This represents a 11.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.48% of the stock is currently owned by insiders.

Modine Manufacturing Company 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.