Schear Investment Advisers LLC Purchases 7,954 Shares of Modine Manufacturing Company $MOD

Schear Investment Advisers LLC increased its position in shares of Modine Manufacturing Company (NYSE:MOD) by 49.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,931 shares of the auto parts company’s stock after acquiring an additional 7,954 shares during the quarter. Modine Manufacturing comprises 1.4% of Schear Investment Advisers LLC’s holdings, making the stock its 23rd biggest position. Schear Investment Advisers LLC’s holdings in Modine Manufacturing were worth $3,195,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in Modine Manufacturing by 13.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 84,616 shares of the auto parts company’s stock valued at $12,512,000 after purchasing an additional 9,989 shares in the last quarter. Perigon Wealth Management LLC increased its stake in Modine Manufacturing by 583.1% during the 4th quarter. Perigon Wealth Management LLC now owns 15,171 shares of the auto parts company’s stock valued at $2,025,000 after purchasing an additional 12,950 shares in the last quarter. Principal Financial Group Inc. increased its stake in Modine Manufacturing by 0.9% during the 3rd quarter. Principal Financial Group Inc. now owns 749,845 shares of the auto parts company’s stock valued at $106,598,000 after purchasing an additional 6,847 shares in the last quarter. Y Intercept Hong Kong Ltd increased its stake in Modine Manufacturing by 390.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 16,861 shares of the auto parts company’s stock valued at $2,397,000 after purchasing an additional 13,424 shares in the last quarter. Finally, Wisconsin Capital Management LLC increased its stake in Modine Manufacturing by 227.9% during the 3rd quarter. Wisconsin Capital Management LLC now owns 23,071 shares of the auto parts company’s stock valued at $3,280,000 after purchasing an additional 16,034 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Insider Transactions at Modine Manufacturing

In related news, Director Suresh V. Garimella sold 1,100 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total transaction of $202,477.00. Following the sale, the director directly owned 79,856 shares of the company’s stock, valued at approximately $14,699,093.92. This represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.48% of the company’s stock.

Analysts Set New Price Targets

MOD has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, February 22nd. Oppenheimer upped their price target on shares of Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Zacks Research lowered shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. DA Davidson reaffirmed a “buy” rating and issued a $265.00 price objective on shares of Modine Manufacturing in a report on Tuesday, March 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Modine Manufacturing has a consensus rating of “Moderate Buy” and a consensus target price of $234.33.

Modine Manufacturing Stock Performance

Shares of NYSE MOD opened at $252.71 on Thursday. The company’s fifty day moving average price is $220.14 and its 200 day moving average price is $175.81. Modine Manufacturing Company has a 1 year low of $76.33 and a 1 year high of $260.01. The company has a market capitalization of $13.33 billion, a PE ratio of 140.40, a price-to-earnings-growth ratio of 1.01 and a beta of 1.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The firm had revenue of $805.00 million for the quarter, compared to the consensus estimate of $763.54 million. During the same period in the prior year, the firm posted $0.92 earnings per share. The firm’s quarterly revenue was up 30.5% compared to the same quarter last year. On average, research analysts predict that Modine Manufacturing Company will post 4.82 earnings per share for the current year.

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.