33,034 Shares in Modine Manufacturing Company $MOD Bought by Emerald Investment Advisers LLC

Key Points

• Emerald Investment Advisers purchased 33,034 Modine Manufacturing shares worth approximately $8.8 million, representing about 0.06% of the company. Institutional investors collectively own 95.23% of MOD.
• Modine reported quarterly EPS of $1.53, beating estimates of $1.27, while revenue rose 28% year over year to $874.1 million, slightly below expectations.
• Analysts maintain a Moderate Buy consensus, with seven Buy ratings and two Holds and an average price target of $320.14; however, insiders sold 54,302 shares worth roughly $15.9 million over the past three months.

Emerald Investment Advisers LLC purchased a new stake in Modine Manufacturing Company (NYSE:MOD - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 33,034 shares of the auto parts company's stock, valued at approximately $8,821,000. Emerald Investment Advisers LLC owned approximately 0.06% of Modine Manufacturing as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MOD. BlackRock Inc. bought a new stake in shares of Modine Manufacturing during the 2nd quarter valued at about $765,540,000. Invesco Ltd. grew its holdings in shares of Modine Manufacturing by 120.4% during 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. Price T Rowe Associates Inc. MD raised its position in shares of Modine Manufacturing by 31.6% in the 4th 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 in the last quarter. WT Asset Management Ltd purchased a new position in shares of Modine Manufacturing in the 4th quarter valued at approximately $69,255,000. Finally, Janus Henderson Group PLC boosted its position in shares of Modine Manufacturing by 2,249.9% during the first quarter. Janus Henderson Group PLC now owns 523,507 shares of the auto parts company's stock valued at $113,459,000 after purchasing an additional 501,229 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors.

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 on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the transaction, the insider directly owned 28,364 shares of the company's stock, valued at $8,369,081.84. This represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eric D. Ashleman sold 15,000 shares of the company's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total value of $4,328,100.00. Following the transaction, the director directly owned 42,350 shares in the company, valued at approximately $12,219,669. The trade was a 26.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 54,302 shares of company stock worth $15,928,759. Insiders own 1.92% of the company's stock.

Modine Manufacturing Stock Up 3.8%

NYSE:MOD opened at $198.03 on Friday. The firm has a market cap of $10.52 billion, a P/E ratio of 74.45, a P/E/G ratio of 0.62 and a beta of 1.71. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04. Modine Manufacturing Company has a fifty-two week low of $111.18 and a fifty-two week high of $323.25. The firm has a 50-day simple moving average of $232.44 and a two-hundred day simple moving average of $236.03.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The firm had revenue of $874.10 million for the quarter, compared to the consensus estimate of $878.69 million. During the same quarter in the prior year, the firm posted $0.95 earnings per share. The business's revenue was up 28.0% on a year-over-year basis. Analysts predict that Modine Manufacturing Company will post 7.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Glj Research reiterated a "buy" rating and issued a $428.00 price objective on shares of Modine Manufacturing in a report on Monday, June 1st. DA Davidson restated a "buy" rating and set a $330.00 target price on shares of Modine Manufacturing in a report on Monday, June 22nd. Oppenheimer upped their target price on shares of Modine Manufacturing from $271.00 to $325.00 and gave the stock an "outperform" rating in a research report on Thursday, May 28th. B. Riley Financial reiterated a "buy" rating and issued a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. Finally, UBS Group lifted their price target on shares of Modine Manufacturing to $310.00 and gave the company a "buy" rating in a research report on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Modine Manufacturing presently has an average rating of "Moderate Buy" and an average price target of $320.14.

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.

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