Modine Manufacturing Company $MOD Stock Position Cut by Emerald Advisers LLC

Emerald Advisers LLC trimmed its holdings in Modine Manufacturing Company (NYSE:MOD) by 3.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 378,118 shares of the auto parts company’s stock after selling 11,817 shares during the period. Modine Manufacturing comprises approximately 2.6% of Emerald Advisers LLC’s holdings, making the stock its largest holding. Emerald Advisers LLC owned about 0.72% of Modine Manufacturing worth $81,942,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. V Square Quantitative Management LLC acquired a new stake in shares of Modine Manufacturing during the first quarter worth approximately $25,000. Kemnay Advisory Services Inc. bought a new stake in shares of Modine Manufacturing in the fourth quarter worth $25,000. Spire Wealth Management acquired a new stake in Modine Manufacturing in the fourth quarter valued at $27,000. Sunbelt Securities Inc. acquired a new stake in Modine Manufacturing in the third quarter valued at $39,000. Finally, Danske Bank A S bought a new position in Modine Manufacturing during the 3rd quarter valued at $43,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MOD has been the subject of several recent analyst reports. Weiss Ratings raised shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. KeyCorp upped their target price on shares of Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. B. Riley Financial increased their price target 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. Wall Street Zen upgraded Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Finally, DA Davidson reissued a “buy” rating and issued a $330.00 price objective on shares of Modine Manufacturing in a report on Monday, June 22nd. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Modine Manufacturing currently has an average rating of “Moderate Buy” and an average target price of $327.14.

Insider Activity

In related news, insider Eric S. Mcginnis sold 1,020 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.06, for a total transaction of $300,961.20. Following the sale, the insider owned 28,364 shares in the company, valued at $8,369,081.84. This represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian Jon Agen sold 38,282 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the completion of the transaction, the vice president directly owned 66,343 shares in the company, valued at $19,582,463.31. This represents a 36.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 54,302 shares of company stock valued at $15,928,759. Company insiders own 2.48% of the company’s stock.

Modine Manufacturing Stock Performance

Shares of MOD opened at $233.94 on Tuesday. The stock has a market capitalization of $12.36 billion, a PE ratio of 104.44, a price-to-earnings-growth ratio of 0.80 and a beta of 1.67. The business’s fifty day moving average price is $269.36 and its 200 day moving average price is $221.89. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25. Modine Manufacturing Company has a 12-month low of $88.48 and a 12-month high of $323.25.

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

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.