California Public Employees Retirement System lowered its holdings in shares of Modine Manufacturing Co. (NYSE:MOD) by 6.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 213,313 shares of the auto parts company’s stock after selling 14,287 shares during the quarter. California Public Employees Retirement System owned 0.42% of Modine Manufacturing worth $4,106,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in MOD. Phocas Financial Corp. lifted its position in Modine Manufacturing by 108.3% during the second quarter. Phocas Financial Corp. now owns 776,539 shares of the auto parts company’s stock valued at $12,852,000 after purchasing an additional 403,805 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Modine Manufacturing by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,901,994 shares of the auto parts company’s stock valued at $64,578,000 after purchasing an additional 325,327 shares during the last quarter. Keeley Teton Advisors LLC bought a new position in Modine Manufacturing during the third quarter valued at $5,164,000. EAM Investors LLC bought a new position in Modine Manufacturing during the second quarter valued at $3,708,000. Finally, Vanguard Group Inc. lifted its position in Modine Manufacturing by 5.2% during the second quarter. Vanguard Group Inc. now owns 4,016,073 shares of the auto parts company’s stock valued at $66,466,000 after purchasing an additional 198,405 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.
In other news, VP Scott D. Wollenberg sold 6,414 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $23.55, for a total value of $151,049.70. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Matthew J. Mcburney sold 3,522 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $22.97, for a total transaction of $80,900.34. The disclosure for this sale can be found here. In the last three months, insiders sold 45,241 shares of company stock worth $982,316. Insiders own 4.42% of the company’s stock.
Several research firms have commented on MOD. Zacks Investment Research upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Wednesday. ValuEngine lowered shares of Modine Manufacturing from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 4th. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $24.00.
Modine Manufacturing Co. (NYSE:MOD) opened at $21.10 on Thursday. Modine Manufacturing Co. has a 12-month low of $10.10 and a 12-month high of $23.95. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.87 and a current ratio of 1.25. The company has a market cap of $1,070.00, a price-to-earnings ratio of 24.82 and a beta of 1.23.
Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, October 31st. The auto parts company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.14. Modine Manufacturing had a net margin of 2.29% and a return on equity of 14.94%. The business had revenue of $508.30 million for the quarter, compared to the consensus estimate of $466.33 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. The business’s revenue for the quarter was up 60.0% on a year-over-year basis. equities research analysts forecast that Modine Manufacturing Co. will post 1.43 EPS for the current fiscal year.
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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.
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