Pier Capital LLC Acquires Shares of 58,159 Modine Manufacturing Company $MOD

Key Points

• Pier Capital LLC acquired 58,159 shares of Modine (NYSE:MOD) in Q4 worth about $7.77 million, a stake that represents roughly 1.2% of Pier Capital's holdings and about 0.11% of Modine.
• Modine beat Q results with $1.19 EPS vs. $0.99 expected and revenue of $805 million (up 30.5% YoY); the stock trades near $269.77 with a market cap of about $14.2 billion and a high trailing P/E (~150).
• Analysts hold a "Moderate Buy" consensus (six Buy, two Hold) with an average target of $234.33, and institutional investors own roughly 95% of the shares.

Pier Capital LLC acquired a new stake in Modine Manufacturing Company (NYSE:MOD - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 58,159 shares of the auto parts company's stock, valued at approximately $7,765,000. Modine Manufacturing comprises approximately 1.2% of Pier Capital LLC's holdings, making the stock its 28th largest holding. Pier Capital LLC owned about 0.11% of Modine Manufacturing as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of MOD. Spire Wealth Management bought a new position in shares of Modine Manufacturing in the 4th quarter worth $27,000. First Horizon Corp acquired a new stake in shares of Modine Manufacturing in the 3rd quarter valued at about $38,000. Sunbelt Securities Inc. acquired a new stake in shares of Modine Manufacturing in the 3rd quarter valued at about $39,000. Danske Bank A S acquired a new stake in shares of Modine Manufacturing in the 3rd quarter valued at about $43,000. Finally, AdvisorShares Investments LLC raised its stake in shares of Modine Manufacturing by 154.0% in the 3rd quarter. AdvisorShares Investments LLC now owns 475 shares of the auto parts company's stock valued at $68,000 after purchasing an additional 288 shares during the period. 95.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MOD has been the topic of several analyst reports. DA Davidson reissued a "buy" rating and set a $265.00 price target on shares of Modine Manufacturing in a research report on Tuesday, March 31st. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Modine Manufacturing in a research report on Wednesday. Glj Research began coverage on Modine Manufacturing in a report on Monday, March 30th. They set a "buy" rating and a $290.00 target price on the stock. Roth Mkm began coverage on Modine Manufacturing in a report on Wednesday, February 18th. They set a "buy" rating and a $263.00 target price on the stock. Finally, Zacks Research lowered Modine Manufacturing from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Modine Manufacturing has a consensus rating of "Moderate Buy" and an average target price of $234.33.

Modine Manufacturing Trading Down 1.6%

Shares of NYSE:MOD opened at $269.77 on Friday. Modine Manufacturing Company has a 12-month low of $86.48 and a 12-month high of $287.30. The stock has a market cap of $14.23 billion, a PE ratio of 149.87, a P/E/G ratio of 1.12 and a beta of 1.66. The business has a 50 day moving average of $226.15 and a 200-day moving average of $182.37. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.20. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The company had revenue of $805.00 million during the quarter, compared to analysts' expectations of $763.54 million. During the same quarter in the previous year, the company posted $0.92 earnings per share. The business's revenue was up 30.5% on a year-over-year basis. As a group, equities research analysts forecast that Modine Manufacturing Company will post 4.82 earnings per share 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.

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