Pembroke Management LTD Buys Shares of 214,589 Modine Manufacturing Company $MOD

Pembroke Management LTD purchased a new position in Modine Manufacturing Company (NYSE:MOD) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 214,589 shares of the auto parts company’s stock, valued at approximately $30,506,000. Modine Manufacturing accounts for 3.0% of Pembroke Management LTD’s holdings, making the stock its 13th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of MOD. Champlain Investment Partners LLC boosted its holdings in Modine Manufacturing by 244.3% during the 2nd quarter. Champlain Investment Partners LLC now owns 743,643 shares of the auto parts company’s stock valued at $73,249,000 after acquiring an additional 527,626 shares during the period. Congress Asset Management Co. lifted its position in shares of Modine Manufacturing by 954.8% during the third quarter. Congress Asset Management Co. now owns 527,480 shares of the auto parts company’s stock worth $74,987,000 after purchasing an additional 477,473 shares during the last quarter. Norges Bank purchased a new stake in shares of Modine Manufacturing during the second quarter valued at $41,081,000. Hood River Capital Management LLC grew its holdings in shares of Modine Manufacturing by 222.8% in the second quarter. Hood River Capital Management LLC now owns 564,466 shares of the auto parts company’s stock worth $55,600,000 after purchasing an additional 389,574 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new position in shares of Modine Manufacturing in the second quarter worth about $28,322,000. 95.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

MOD has been the subject of a number of research analyst reports. DA Davidson reiterated a “buy” rating and set a $200.00 price objective on shares of Modine Manufacturing in a report on Wednesday, November 19th. Zacks Research downgraded shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. KeyCorp boosted their price target on Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. Finally, UBS Group assumed coverage on Modine Manufacturing in a research report on Thursday, November 20th. They set a “buy” rating and a $173.00 target price for the company. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Modine Manufacturing has an average rating of “Moderate Buy” and an average target price of $182.00.

Modine Manufacturing Price Performance

Shares of MOD opened at $136.38 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.00. The company has a 50 day moving average price of $141.85 and a 200-day moving average price of $137.35. Modine Manufacturing Company has a fifty-two week low of $64.79 and a fifty-two week high of $166.94. The stock has a market capitalization of $7.18 billion, a PE ratio of 39.42, a PEG ratio of 0.84 and a beta of 1.70.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, October 28th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.09. The company had revenue of $738.90 million for the quarter, compared to analyst estimates 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 company posted $0.97 earnings per share. Equities analysts predict that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Neil David Brinker sold 31,871 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total value of $5,117,207.76. Following the completion of the transaction, the chief executive officer directly 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.48% of the company’s stock.

Modine Manufacturing Company 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.