Modine Manufacturing Company (NYSE:MOD) Shares Sold by Neumeier Poma Investment Counsel LLC

Key Points

• Neumeier Poma Investment Counsel LLC reduced its stake in Modine Manufacturing by 46.0%, selling 82,462 shares and owning 96,969 shares valued at approximately $7.44 million at the end of the first quarter.
• Institutional investors now own 95.23% of Modine Manufacturing's stock, with several funds increasing their positions significantly, including Wasatch Advisors LP, which raised its stake by 108.0% during the fourth quarter.
• Modine Manufacturing exceeded analysts' earnings expectations for its most recent quarter, reporting $1.06 EPS against an estimate of $0.93, with quarterly revenue increasing 3.2% year-over-year.

Neumeier Poma Investment Counsel LLC reduced its position in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 46.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 96,969 shares of the auto parts company's stock after selling 82,462 shares during the period. Neumeier Poma Investment Counsel LLC owned 0.18% of Modine Manufacturing worth $7,442,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wasatch Advisors LP increased its position in shares of Modine Manufacturing by 108.0% during the fourth 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 during the last quarter. Bank of New York Mellon Corp increased its position in shares of Modine Manufacturing by 384.3% during the first quarter. Bank of New York Mellon Corp now owns 848,068 shares of the auto parts company's stock valued at $65,089,000 after acquiring an additional 672,960 shares during the last quarter. Reinhart Partners LLC. increased its position in shares of Modine Manufacturing by 187.3% during the first quarter. Reinhart Partners LLC. now owns 875,834 shares of the auto parts company's stock valued at $67,220,000 after acquiring an additional 571,026 shares during the last quarter. J. Goldman & Co LP acquired a new stake in shares of Modine Manufacturing during the fourth quarter valued at about $43,201,000. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of Modine Manufacturing by 27.8% during the fourth 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 during the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MOD shares. Wall Street Zen cut shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Oppenheimer lifted their price target on shares of Modine Manufacturing from $121.00 to $122.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. Finally, KeyCorp lifted 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, July 31st.

Modine Manufacturing Trading Down 3.0%

Shares of MOD stock opened at $136.33 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 2.06. The stock has a market capitalization of $7.16 billion, a P/E ratio of 39.06, a price-to-earnings-growth ratio of 0.89 and a beta of 2.12. The company has a 50 day moving average price of $100.17 and a 200 day moving average price of $93.44. Modine Manufacturing Company has a fifty-two week low of $64.79 and a fifty-two week high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.13. Modine Manufacturing had a net margin of 7.21% and a return on equity of 23.90%. The company had revenue of $682.80 million during the quarter, compared to the consensus estimate of $653.80 million. During the same quarter in the previous year, the firm earned $1.04 earnings per share. The firm's quarterly revenue was up 3.2% on a year-over-year basis. Equities research analysts predict that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Brian Jon Agen sold 47,939 shares of Modine Manufacturing stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $110.50, for a total value of $5,297,259.50. Following the completion of the transaction, the vice president owned 90,015 shares in the company, valued at $9,946,657.50. The trade was a 34.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael B. Lucareli sold 80,661 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $128.33, for a total transaction of $10,351,226.13. Following the completion of the transaction, the executive vice president owned 66,920 shares of the company's stock, valued at $8,587,843.60. This represents a 54.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 174,800 shares of company stock valued at $21,991,034 in the last quarter. 2.48% of the stock is owned by insiders.

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.

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