Emerald Acquisition Ltd. bought a new position in shares of Modine Manufacturing Co. (NYSE:MOD) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 100,861 shares of the company’s stock, valued at approximately $888,000. Emerald Acquisition Ltd. owned 0.21% of Modine Manufacturing at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Frontier Capital Management Co. LLC increased its stake in Modine Manufacturing by 1.8% in the second quarter. Frontier Capital Management Co. LLC now owns 4,540,479 shares of the company’s stock worth $39,956,000 after buying an additional 81,854 shares during the last quarter. DNB Asset Management AS increased its stake in Modine Manufacturing by 4.5% in the second quarter. DNB Asset Management AS now owns 1,317,269 shares of the company’s stock worth $11,592,000 after buying an additional 56,620 shares during the last quarter. Lazard Asset Management LLC increased its stake in Modine Manufacturing by 10.9% in the first quarter. Lazard Asset Management LLC now owns 942,990 shares of the company’s stock worth $10,382,000 after buying an additional 92,759 shares during the last quarter. ClariVest Asset Management LLC increased its stake in Modine Manufacturing by 85.2% in the second quarter. ClariVest Asset Management LLC now owns 283,347 shares of the company’s stock worth $2,494,000 after buying an additional 130,362 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Modine Manufacturing by 7.6% in the first quarter. Goldman Sachs Group Inc. now owns 171,795 shares of the company’s stock worth $1,891,000 after buying an additional 12,158 shares during the last quarter. Hedge funds and other institutional investors own 83.52% of the company’s stock.
Shares of Modine Manufacturing Co. (NYSE:MOD) traded up 0.86% during mid-day trading on Wednesday, hitting $11.70. The company had a trading volume of 12,271 shares. The company has a market capitalization of $559.04 million, a PE ratio of 300.00 and a beta of 1.42. Modine Manufacturing Co. has a one year low of $5.39 and a one year high of $12.21. The company’s 50-day moving average is $11.40 and its 200 day moving average is $10.44.
Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.03. The business had revenue of $347.20 million for the quarter, compared to analyst estimates of $337.10 million. Modine Manufacturing had a return on equity of 10.46% and a net margin of 0.14%. Modine Manufacturing’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the company posted $0.14 earnings per share. On average, equities research analysts forecast that Modine Manufacturing Co. will post $0.84 EPS for the current fiscal year.
Separately, Zacks Investment Research downgraded Modine Manufacturing from a “hold” rating to a “sell” rating in a research report on Thursday, July 14th.
About Modine Manufacturing
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.