Neumeier Poma Investment Counsel LLC Takes $31.88 Billion Position in Modine Manufacturing Company $MOD

Neumeier Poma Investment Counsel LLC bought a new position in shares of Modine Manufacturing Company (NYSE:MOD) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 119,400 shares of the auto parts company’s stock, valued at approximately $31,882,188,000. Modine Manufacturing accounts for about 2.2% of Neumeier Poma Investment Counsel LLC’s portfolio, making the stock its 25th biggest holding.

Several other large investors have also recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in Modine Manufacturing by 4.7% in the 4th quarter. Wellington Management Group LLP now owns 2,879,299 shares of the auto parts company’s stock valued at $384,415,000 after purchasing an additional 130,511 shares during the period. BlackRock Inc. bought a new position in shares of Modine Manufacturing during the 2nd quarter worth about $765,540,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Modine Manufacturing by 31.6% during the 4th 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 purchasing an additional 560,131 shares during the period. Wasatch Advisors LP raised its position in shares of Modine Manufacturing by 1.4% during the second quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock valued at $176,553,000 after buying an additional 23,955 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in shares of Modine Manufacturing by 13.8% in the fourth quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock valued at $197,358,000 after buying an additional 179,617 shares during the period. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, VP Brian Jon Agen sold 38,282 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.17, for a total value of $11,299,697.94. Following the transaction, the vice president directly owned 66,343 shares in the company, valued at $19,582,463.31. The trade was a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric S. Mcginnis sold 1,020 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the sale, the insider directly owned 28,364 shares in the company, valued at $8,369,081.84. This represents a 3.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 54,302 shares of company stock valued at $15,928,759 in the last ninety days. Insiders own 1.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MOD shares. Oppenheimer lifted their target price on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. UBS Group raised their price objective on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Glj Research reissued a “buy” rating and set a $428.00 price objective on shares of Modine Manufacturing in a report on Monday, June 1st. DA Davidson restated a “buy” rating and set a $330.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 22nd. Finally, Weiss Ratings upgraded Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $320.14.

Modine Manufacturing Stock Performance

Modine Manufacturing stock opened at $198.03 on Monday. The firm has a market capitalization of $10.52 billion, a P/E ratio of 74.45, a P/E/G ratio of 0.65 and a beta of 1.71. The stock has a fifty day moving average price of $232.44 and a two-hundred day moving average price of $236.31. Modine Manufacturing Company has a 52-week low of $111.18 and a 52-week high of $323.25. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The company had revenue of $874.10 million for the quarter, compared to the consensus estimate of $878.69 million. During the same quarter in the previous year, the company earned $0.95 EPS. The firm’s revenue for the quarter was up 28.0% compared to the same quarter last year. As a group, analysts anticipate that Modine Manufacturing Company will post 7.65 EPS 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.