Modine Manufacturing Company $MOD Shares Purchased by G2 Investment Partners Management LLC

G2 Investment Partners Management LLC increased its stake in Modine Manufacturing Company (NYSE:MOD) by 52.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 86,762 shares of the auto parts company’s stock after acquiring an additional 30,000 shares during the quarter. Modine Manufacturing makes up about 1.9% of G2 Investment Partners Management LLC’s portfolio, making the stock its 20th biggest holding. G2 Investment Partners Management LLC’s holdings in Modine Manufacturing were worth $8,546,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Parkside Financial Bank & Trust grew its position in shares of Modine Manufacturing by 2,025.0% in the second quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock valued at $42,000 after purchasing an additional 405 shares during the period. Maseco LLP acquired a new stake in Modine Manufacturing in the 2nd quarter worth about $51,000. GAMMA Investing LLC increased its stake in Modine Manufacturing by 52.6% during the 2nd quarter. GAMMA Investing LLC now owns 560 shares of the auto parts company’s stock worth $55,000 after buying an additional 193 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of Modine Manufacturing during the second quarter valued at approximately $57,000. Finally, Allworth Financial LP lifted its position in shares of Modine Manufacturing by 522.4% in the second quarter. Allworth Financial LP now owns 722 shares of the auto parts company’s stock valued at $71,000 after acquiring an additional 606 shares in the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Trading Down 15.6%

Shares of MOD stock opened at $139.43 on Friday. The company’s 50-day moving average price is $152.34 and its 200-day moving average price is $130.72. The company has a current ratio of 2.00, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50. The stock has a market cap of $7.34 billion, a price-to-earnings ratio of 40.30, a PEG ratio of 1.05 and a beta of 1.69. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $166.94.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, October 28th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.09. The firm had revenue of $738.90 million during the quarter, compared to analysts’ expectations of $699.91 million. Modine Manufacturing had a net margin of 6.93% and a return on equity of 23.19%. Modine Manufacturing’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the business earned $0.97 earnings per share. As a group, equities analysts predict that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the company. Zacks Research cut Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. KeyCorp lifted their target price on shares of Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday. DA Davidson restated a “buy” rating and set a $200.00 price target on shares of Modine Manufacturing in a research report on Wednesday, November 19th. Finally, Oppenheimer upped their price objective on shares of Modine Manufacturing from $145.00 to $180.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Modine Manufacturing has a consensus rating of “Moderate Buy” and an average price target of $182.00.

Insider Activity at Modine Manufacturing

In other news, CEO Neil David Brinker sold 31,871 shares of Modine Manufacturing stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the sale, the chief executive officer owned 238,312 shares of the company’s stock, valued at approximately $38,263,374.72. The trade was a 11.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.48% of the company’s stock.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.