Fiera Capital Corp Grows Holdings in Modine Manufacturing Company (NYSE:MOD)

Key Points

• Fiera Capital Corp's Increase: Fiera Capital Corp raised its stake in Modine Manufacturing Company by 54.4% in the first quarter, owning 243,127 shares valued at approximately $18.66 million.
• Positive Earnings Report: Modine reported an EPS of $1.12 for the latest quarter, exceeding expectations, and a revenue of $647.20 million, reflecting a year-over-year increase of 7.2%.
• Analyst Upgrades: Multiple analysts have given positive ratings for Modine Manufacturing, with Oppenheimer raising the target price to $122.00 and five analysts now rating the stock as a "Buy."

Fiera Capital Corp boosted its holdings in Modine Manufacturing Company (NYSE:MOD - Free Report) by 54.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 243,127 shares of the auto parts company's stock after buying an additional 85,617 shares during the quarter. Fiera Capital Corp owned approximately 0.46% of Modine Manufacturing worth $18,660,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in shares of Modine Manufacturing by 63.1% during the first quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock worth $28,000 after buying an additional 142 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Modine Manufacturing by 245.9% during the 1st quarter. Versant Capital Management Inc now owns 422 shares of the auto parts company's stock worth $32,000 after purchasing an additional 300 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in Modine Manufacturing in the 1st quarter worth approximately $46,000. First Horizon Advisors Inc. grew its stake in Modine Manufacturing by 442.4% in the 1st quarter. First Horizon Advisors Inc. now owns 640 shares of the auto parts company's stock worth $49,000 after acquiring an additional 522 shares during the period. Finally, IFP Advisors Inc grew its stake in shares of Modine Manufacturing by 14.2% during the 1st quarter. IFP Advisors Inc now owns 911 shares of the auto parts company's stock valued at $70,000 after buying an additional 113 shares during the period. Hedge funds and other institutional investors own 95.23% of the company's stock.

Modine Manufacturing Price Performance

Shares of MOD traded down $1.32 during mid-day trading on Friday, reaching $133.24. The company had a trading volume of 1,996,054 shares, compared to its average volume of 1,237,020. The company's 50 day simple moving average is $97.39 and its 200 day simple moving average is $93.55. Modine Manufacturing Company has a 1-year low of $64.79 and a 1-year high of $146.84. 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 company has a market capitalization of $6.99 billion, a price-to-earnings ratio of 38.18, a P/E/G ratio of 0.74 and a beta of 2.04.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its earnings results on Wednesday, July 30th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.13. The company had revenue of $682.80 million for the quarter, compared to the consensus estimate of $653.80 million. Modine Manufacturing had a net margin of 7.21% and a return on equity of 24.82%. Modine Manufacturing's quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.04 EPS. Analysts expect that Modine Manufacturing Company will post 3.88 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MOD shares. Oppenheimer boosted their price objective on shares of Modine Manufacturing from $121.00 to $122.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Wall Street Zen upgraded shares of Modine Manufacturing from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Finally, KeyCorp increased their price objective on shares of Modine Manufacturing from $125.00 to $150.00 and gave the company an "overweight" rating in a report on Thursday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Modine Manufacturing has a consensus rating of "Buy" and an average target price of $141.75.

Insider Activity

In related news, VP Brian Jon Agen sold 47,939 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $110.50, for a total transaction of $5,297,259.50. Following the sale, the vice president owned 90,015 shares of the company's stock, valued at approximately $9,946,657.50. This represents a 34.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael B. Lucareli sold 5,778 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $115.00, for a total transaction of $664,470.00. Following the completion of the sale, the executive vice president directly owned 121,142 shares in the company, valued at $13,931,330. This represents a 4.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.48% of the stock is owned by corporate insiders.

Modine Manufacturing Profile

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.