Grandeur Peak Global Advisors LLC Purchases New Holdings in Modine Manufacturing Company $MOD

Grandeur Peak Global Advisors LLC purchased a new stake in Modine Manufacturing Company (NYSE:MOD) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,906 shares of the auto parts company’s stock, valued at approximately $2,378,000.

Other institutional investors have also recently made changes to their positions in the company. Kemnay Advisory Services Inc. acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new position in Modine Manufacturing during the first quarter worth $25,000. Sunbelt Securities Inc. acquired a new position in Modine Manufacturing during the third quarter worth $39,000. Rakuten Securities Inc. bought a new stake in Modine Manufacturing during the second quarter worth $40,000. Finally, PenderFund Capital Management Ltd. bought a new stake in Modine Manufacturing during the second quarter worth $42,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Stock Performance

Shares of MOD stock opened at $187.03 on Friday. Modine Manufacturing Company has a 52 week low of $111.18 and a 52 week high of $323.25. The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of 70.31, a PEG ratio of 0.61 and a beta of 1.71. The company has a 50-day simple moving average of $224.41 and a 200 day simple moving average of $235.83. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04.

Modine Manufacturing (NYSE:MOD) last posted 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. The company had revenue of $874.10 million for the quarter, compared to the consensus estimate of $878.69 million. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 earnings per share. On average, sell-side analysts predict that Modine Manufacturing Company will post 7.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MOD. KeyCorp decreased their price objective on shares of Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Glj Research reaffirmed a “buy” rating and issued a $428.00 target price on shares of Modine Manufacturing in a report on Monday, June 1st. Oppenheimer raised their target price on shares of Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. UBS Group lifted their price target on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, DA Davidson reissued a “buy” rating and set a $330.00 price target on shares of Modine Manufacturing in a research report on Monday, June 22nd. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $320.14.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, insider Eric S. Mcginnis sold 1,020 shares of Modine Manufacturing stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.06, for a total value of $300,961.20. Following the completion of the sale, the insider owned 28,364 shares in the company, valued at $8,369,081.84. The trade was a 3.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric D. Ashleman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the transaction, the director owned 42,350 shares in the company, valued at approximately $12,219,669. The trade was a 26.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 54,302 shares of company stock valued at $15,928,759 in the last ninety days. 1.92% of the stock is currently owned by corporate insiders.

About Modine Manufacturing

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.