Emerald Investment Advisers LLC Purchases Shares of 33,034 Modine Manufacturing Company $MOD

Emerald Investment Advisers LLC purchased a new stake in shares of Modine Manufacturing Company (NYSE:MOD) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 33,034 shares of the auto parts company’s stock, valued at approximately $8,821,000.

Several other institutional investors have also recently made changes to their positions in MOD. BlackRock Inc. purchased a new position in shares of Modine Manufacturing in the second quarter worth approximately $765,540,000. Invesco Ltd. raised its position in Modine Manufacturing by 120.4% in the fourth quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock worth $176,037,000 after acquiring an additional 720,389 shares during the period. Price T Rowe Associates Inc. MD raised its position in Modine Manufacturing by 31.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock worth $311,503,000 after acquiring an additional 560,131 shares during the period. WT Asset Management Ltd purchased a new position in shares of Modine Manufacturing during the 4th quarter worth $69,255,000. Finally, Janus Henderson Group PLC grew its position in shares of Modine Manufacturing by 2,249.9% during the 1st quarter. Janus Henderson Group PLC now owns 523,507 shares of the auto parts company’s stock valued at $113,459,000 after acquiring an additional 501,229 shares during the period. Institutional investors own 95.23% of the company’s stock.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, insider Eric S. Mcginnis sold 1,020 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $295.06, for a total value of $300,961.20. Following the sale, the insider owned 28,364 shares in the company, valued at $8,369,081.84. The trade was a 3.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric D. Ashleman sold 15,000 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the transaction, the director directly owned 42,350 shares of the company’s stock, valued at $12,219,669. This trade represents a 26.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 54,302 shares of company stock worth $15,928,759. Insiders own 1.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on MOD. Glj Research reaffirmed a “buy” rating and issued a $428.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 1st. Weiss Ratings raised shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Oppenheimer lifted their target price on shares of Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. KeyCorp cut their price target on Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Finally, Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $320.14.

Modine Manufacturing Trading Up 3.8%

Modine Manufacturing stock opened at $198.03 on Friday. Modine Manufacturing Company has a 1 year low of $111.18 and a 1 year high of $323.25. The firm’s 50 day moving average price is $232.44 and its 200-day moving average price is $236.03. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22. The stock has a market cap of $10.52 billion, a P/E ratio of 74.45, a PEG ratio of 0.62 and a beta of 1.71.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The firm had revenue of $874.10 million during the quarter, compared to analyst estimates of $878.69 million. During the same quarter in the prior year, the business earned $0.95 earnings per share. Modine Manufacturing’s revenue for the quarter was up 28.0% on a year-over-year basis. On average, equities analysts predict that Modine Manufacturing Company will post 7.65 earnings per share for the current fiscal year.

Modine Manufacturing Profile

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.