Emerald Advisers LLC Purchases Shares of 260,150 Modine Manufacturing (NYSE:MOD)

Emerald Advisers LLC acquired a new position in shares of Modine Manufacturing (NYSE:MOD) during the 2nd quarter, Holdings Channel reports. The fund acquired 260,150 shares of the auto parts company’s stock, valued at approximately $26,064,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Modine Manufacturing by 27.3% in the 1st quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock worth $372,099,000 after buying an additional 838,460 shares during the last quarter. Capital International Investors lifted its holdings in shares of Modine Manufacturing by 40.6% during the 1st quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company’s stock worth $135,726,000 after acquiring an additional 411,946 shares during the period. Hennessy Advisors Inc. lifted its holdings in shares of Modine Manufacturing by 20.4% during the 1st quarter. Hennessy Advisors Inc. now owns 714,400 shares of the auto parts company’s stock worth $68,004,000 after acquiring an additional 121,200 shares during the period. Axiom Investors LLC DE boosted its position in shares of Modine Manufacturing by 286.0% in the fourth quarter. Axiom Investors LLC DE now owns 281,690 shares of the auto parts company’s stock worth $16,817,000 after acquiring an additional 208,715 shares during the last quarter. Finally, UBS Group AG grew its holdings in Modine Manufacturing by 19.8% in the fourth quarter. UBS Group AG now owns 247,047 shares of the auto parts company’s stock valued at $14,749,000 after purchasing an additional 40,883 shares during the period. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

Modine Manufacturing stock opened at $97.39 on Friday. The firm has a fifty day moving average of $107.80 and a 200-day moving average of $99.00. Modine Manufacturing has a 52-week low of $38.50 and a 52-week high of $123.92. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $5.10 billion, a P/E ratio of 32.14, a PEG ratio of 0.93 and a beta of 2.22.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.18. The firm had revenue of $661.50 million during the quarter, compared to the consensus estimate of $633.55 million. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 EPS. As a group, analysts predict that Modine Manufacturing will post 3.85 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. DA Davidson increased their price target on shares of Modine Manufacturing from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. B. Riley increased their target price on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. William Blair initiated coverage on Modine Manufacturing in a research report on Monday, July 29th. They set an “outperform” rating for the company. Finally, Oppenheimer raised their price objective on Modine Manufacturing from $114.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $138.33.

Insider Buying and Selling

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $109.74, for a total value of $3,775,056.00. Following the completion of the sale, the director now owns 144,038 shares of the company’s stock, valued at $15,806,730.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Modine Manufacturing Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.