Emerald Mutual Fund Advisers Trust Decreases Stock Position in Modine Manufacturing Company (NYSE:MOD)

Emerald Mutual Fund Advisers Trust cut its holdings in Modine Manufacturing Company (NYSE:MOD - Free Report) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 170,090 shares of the auto parts company's stock after selling 4,618 shares during the quarter. Emerald Mutual Fund Advisers Trust owned approximately 0.32% of Modine Manufacturing worth $13,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Modine Manufacturing by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 5,058,967 shares of the auto parts company's stock valued at $586,486,000 after acquiring an additional 70,581 shares in the last quarter. Invesco Ltd. boosted its position in Modine Manufacturing by 1.0% during the 4th quarter. Invesco Ltd. now owns 2,012,533 shares of the auto parts company's stock valued at $233,313,000 after acquiring an additional 20,085 shares in the last quarter. Driehaus Capital Management LLC boosted its position in Modine Manufacturing by 2.8% during the 4th quarter. Driehaus Capital Management LLC now owns 1,439,980 shares of the auto parts company's stock valued at $166,937,000 after acquiring an additional 39,193 shares in the last quarter. Wasatch Advisors LP boosted its position in Modine Manufacturing by 108.0% during the 4th quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company's stock valued at $165,596,000 after acquiring an additional 741,667 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its position in Modine Manufacturing by 27.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,207,181 shares of the auto parts company's stock valued at $139,949,000 after acquiring an additional 262,936 shares in the last quarter. 95.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MOD has been the topic of several research reports. KeyCorp initiated coverage on Modine Manufacturing in a research report on Thursday, June 12th. They set an "overweight" rating and a $125.00 price objective on the stock. Wall Street Zen raised Modine Manufacturing from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. DA Davidson reissued a "buy" rating and issued a $155.00 price target on shares of Modine Manufacturing in a research report on Monday, March 17th. Finally, Oppenheimer boosted their price target on Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $135.50.

Modine Manufacturing Stock Down 0.6%

Shares of MOD traded down $0.55 during mid-day trading on Friday, reaching $92.10. The company had a trading volume of 981,878 shares, compared to its average volume of 962,149. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 1.78. The firm has a 50-day moving average price of $96.32 and a 200 day moving average price of $95.25. Modine Manufacturing Company has a 52 week low of $64.79 and a 52 week high of $146.84. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 26.93, a price-to-earnings-growth ratio of 0.60 and a beta of 2.04.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.16. Modine Manufacturing had a net margin of 7.12% and a return on equity of 25.31%. The company had revenue of $647.20 million during the quarter, compared to analyst estimates of $633.13 million. During the same period in the previous year, the business earned $0.77 EPS. The firm's revenue for the quarter was up 7.2% on a year-over-year basis. On average, sell-side analysts forecast that Modine Manufacturing Company will post 3.88 EPS for the current 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.