224,055 Shares in Modine Manufacturing Company (MOD) Purchased by EAM Investors LLC
EAM Investors LLC acquired a new stake in shares of Modine Manufacturing Company (NYSE:MOD) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 224,055 shares of the auto parts company’s stock, valued at approximately $3,708,000. EAM Investors LLC owned 0.45% of Modine Manufacturing as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Aperio Group LLC boosted its holdings in Modine Manufacturing by 0.6% during the 2nd quarter. Aperio Group LLC now owns 13,495 shares of the auto parts company’s stock valued at $223,000 after acquiring an additional 78 shares during the period. Legal & General Group Plc boosted its holdings in Modine Manufacturing by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 16,260 shares of the auto parts company’s stock valued at $269,000 after acquiring an additional 497 shares during the period. BB&T Securities LLC boosted its holdings in Modine Manufacturing by 4.2% during the 2nd quarter. BB&T Securities LLC now owns 13,600 shares of the auto parts company’s stock valued at $225,000 after acquiring an additional 550 shares during the period. Rhumbline Advisers boosted its holdings in Modine Manufacturing by 1.6% during the 2nd quarter. Rhumbline Advisers now owns 63,347 shares of the auto parts company’s stock valued at $1,048,000 after acquiring an additional 985 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Modine Manufacturing by 11.5% during the 1st quarter. Bank of America Corp DE now owns 9,799 shares of the auto parts company’s stock valued at $120,000 after acquiring an additional 1,008 shares during the period. Institutional investors own 83.37% of the company’s stock.
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Shares of Modine Manufacturing Company (MOD) traded up 1.68% during midday trading on Friday, hitting $18.20. The company’s stock had a trading volume of 243,464 shares. Modine Manufacturing Company has a 12-month low of $9.25 and a 12-month high of $18.40. The firm has a 50-day moving average of $16.42 and a 200 day moving average of $14.45. The firm has a market cap of $912.22 million, a price-to-earnings ratio of 39.57 and a beta of 1.20.
Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, August 1st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.09. The firm had revenue of $515.50 million during the quarter, compared to analyst estimates of $482.70 million. Modine Manufacturing had a return on equity of 11.16% and a net margin of 1.35%. Modine Manufacturing’s revenue was up 48.5% compared to the same quarter last year. During the same period last year, the business posted $0.23 earnings per share. On average, equities research analysts predict that Modine Manufacturing Company will post $1.41 EPS for the current fiscal year.
MOD has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Modine Manufacturing from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Thursday, June 1st. ValuEngine upgraded Modine Manufacturing from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub cut Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, TheStreet upgraded Modine Manufacturing from a “c” rating to a “b-” rating in a report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $17.00.
In related 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 completion of the transaction, the insider now directly owns 454,673 shares in the company, valued at $7,361,155.87. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.42% of the company’s stock.
Modine Manufacturing Profile
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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