California Public Employees Retirement System trimmed its stake in shares of Modine Manufacturing Co. (NYSE:MOD) by 6.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 213,313 shares of the auto parts company’s stock after selling 14,287 shares during the period. California Public Employees Retirement System owned approximately 0.42% of Modine Manufacturing worth $4,106,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. Legal & General Group Plc lifted its position in shares of Modine Manufacturing by 3.2% during the second quarter. Legal & General Group Plc now owns 16,260 shares of the auto parts company’s stock worth $269,000 after purchasing an additional 497 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Modine Manufacturing by 1.6% during the second quarter. Rhumbline Advisers now owns 63,347 shares of the auto parts company’s stock worth $1,048,000 after purchasing an additional 985 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Modine Manufacturing by 3.8% during the second quarter. The Manufacturers Life Insurance Company now owns 38,752 shares of the auto parts company’s stock worth $641,000 after purchasing an additional 1,414 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Modine Manufacturing by 11.0% during the second quarter. Voya Investment Management LLC now owns 22,633 shares of the auto parts company’s stock worth $375,000 after purchasing an additional 2,240 shares in the last quarter. Finally, American International Group Inc. lifted its position in shares of Modine Manufacturing by 8.1% during the third quarter. American International Group Inc. now owns 33,144 shares of the auto parts company’s stock worth $638,000 after purchasing an additional 2,478 shares in the last quarter. Institutional investors own 80.83% of the company’s stock.
In other Modine Manufacturing news, Director Larry Oscar Moore sold 4,100 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $21.01, for a total value of $86,141.00. Following the completion of the sale, the director now owns 45,659 shares of the company’s stock, valued at $959,295.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas F. Marry sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $21.97, for a total transaction of $153,790.00. The disclosure for this sale can be found here. Insiders sold 38,827 shares of company stock worth $831,266 over the last 90 days. 4.42% of the stock is currently owned by company insiders.
Shares of Modine Manufacturing Co. (NYSE MOD) traded up $0.05 during midday trading on Friday, reaching $24.35. 693,907 shares of the company traded hands, compared to its average volume of 429,196. Modine Manufacturing Co. has a fifty-two week low of $10.10 and a fifty-two week high of $24.90. The firm has a market capitalization of $1,178.27 and a price-to-earnings ratio of 101.46. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.25 and a quick ratio of 0.87.
Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Tuesday, January 30th. The auto parts company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.06. Modine Manufacturing had a net margin of 0.62% and a return on equity of 16.68%. The business had revenue of $512.70 million for the quarter, compared to analyst estimates of $456.30 million. During the same period in the prior year, the business posted $0.21 earnings per share. Modine Manufacturing’s revenue was up 46.6% compared to the same quarter last year. equities research analysts anticipate that Modine Manufacturing Co. will post 1.49 earnings per share for the current fiscal year.
Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Friday. ValuEngine lowered shares of Modine Manufacturing from a “strong-buy” rating to a “buy” rating in a report on Monday, December 4th.
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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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