EAM Investors LLC increased its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 10.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 246,625 shares of the auto parts company’s stock after acquiring an additional 22,570 shares during the period. EAM Investors LLC owned about 0.49% of Modine Manufacturing worth $4,748,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Frontier Capital Management Co. LLC lifted its stake in shares of Modine Manufacturing by 0.8% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 4,907,861 shares of the auto parts company’s stock worth $94,476,000 after acquiring an additional 37,958 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Modine Manufacturing by 5.2% during the 2nd quarter. Vanguard Group Inc. now owns 4,016,073 shares of the auto parts company’s stock worth $66,466,000 after acquiring an additional 198,405 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Modine Manufacturing by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,901,994 shares of the auto parts company’s stock worth $64,578,000 after acquiring an additional 325,327 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Modine Manufacturing by 15.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,662,194 shares of the auto parts company’s stock worth $27,509,000 after acquiring an additional 217,843 shares during the last quarter. Finally, LSV Asset Management lifted its stake in shares of Modine Manufacturing by 1.3% during the 2nd quarter. LSV Asset Management now owns 1,536,696 shares of the auto parts company’s stock worth $25,432,000 after acquiring an additional 19,000 shares during the last quarter. 82.11% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have weighed in on the company. Zacks Investment Research lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. BidaskClub raised Modine Manufacturing from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. TheStreet raised Modine Manufacturing from a “c” rating to a “b-” rating in a research report on Tuesday, August 1st. Finally, ValuEngine raised Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. Modine Manufacturing currently has a consensus rating of “Hold” and a consensus target price of $24.00.
Shares of Modine Manufacturing Company (MOD) traded up $0.25 during midday trading on Monday, reaching $22.20. The company’s stock had a trading volume of 316,800 shares, compared to its average volume of 319,027. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.82. The company has a market cap of $1,117.60, a price-to-earnings ratio of 16.95 and a beta of 1.20. Modine Manufacturing Company has a 1-year low of $10.10 and a 1-year high of $23.70.
Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, October 31st. The auto parts company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.14. Modine Manufacturing had a return on equity of 14.94% and a net margin of 2.29%. The business had revenue of $508.30 million for the quarter, compared to the consensus estimate of $466.33 million. During the same period last year, the business posted ($0.01) EPS. The business’s revenue was up 60.0% compared to the same quarter last year. equities research analysts anticipate that Modine Manufacturing Company will post 1.43 earnings per share for the current year.
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In other news, insider Thomas Andrew Burke sold 84,980 shares of Modine Manufacturing stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $16.19, for a total value of $1,375,826.20. Following the transaction, the insider now directly owns 454,673 shares in the company, valued at approximately $7,361,155.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Thomas F. Marry sold 7,000 shares of Modine Manufacturing stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $21.97, for a total value of $153,790.00. The disclosure for this sale can be found here. Insiders sold a total of 98,394 shares of company stock worth $1,680,666 over the last quarter. Company insiders own 4.42% of the company’s stock.
About Modine Manufacturing
Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on-highway and off-highway original equipment manufacturer (OEM) vehicular applications, and for sale into an array of building, industrial and refrigeration markets. The Company’s products include radiators and radiator cores, exhaust gas recirculation coolers, building heating, ventilating and air conditioning (HVAC) equipment, and coils.
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