Arizona State Retirement System Sells 239 Shares of Modine Manufacturing (NYSE:MOD)

Arizona State Retirement System trimmed its position in Modine Manufacturing (NYSE:MOD) by 1.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 13,885 shares of the auto parts company’s stock after selling 239 shares during the period. Arizona State Retirement System’s holdings in Modine Manufacturing were worth $829,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MOD. PNC Financial Services Group Inc. boosted its stake in Modine Manufacturing by 966.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,472 shares of the auto parts company’s stock valued at $29,000 after acquiring an additional 1,334 shares during the last quarter. Point72 Middle East FZE purchased a new stake in shares of Modine Manufacturing during the 4th quarter valued at approximately $31,000. Quantbot Technologies LP lifted its stake in shares of Modine Manufacturing by 123.5% during the 1st quarter. Quantbot Technologies LP now owns 3,800 shares of the auto parts company’s stock valued at $34,000 after buying an additional 2,100 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Modine Manufacturing by 161.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,680 shares of the auto parts company’s stock valued at $38,000 after buying an additional 1,037 shares in the last quarter. Finally, Harbour Investments Inc. lifted its stake in shares of Modine Manufacturing by 154.1% during the 2nd quarter. Harbour Investments Inc. now owns 1,245 shares of the auto parts company’s stock valued at $41,000 after buying an additional 755 shares in the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MOD has been the topic of a number of recent research reports. DA Davidson restated a “buy” rating and set a $90.00 price target on shares of Modine Manufacturing in a research note on Tuesday, February 27th. StockNews.com cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Oppenheimer began coverage on shares of Modine Manufacturing in a research note on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 target price on the stock. Finally, B. Riley reiterated a “buy” rating and issued a $98.00 target price (up from $88.00) on shares of Modine Manufacturing in a research note on Tuesday, February 27th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.67.

Modine Manufacturing Price Performance

Shares of NYSE:MOD opened at $85.64 on Thursday. The company’s fifty day moving average price is $88.26 and its 200-day moving average price is $65.83. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 0.69 and a beta of 2.29. Modine Manufacturing has a one year low of $19.41 and a one year high of $106.01. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.93 and a quick ratio of 1.21.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, January 30th. The auto parts company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.17. Modine Manufacturing had a net margin of 9.31% and a return on equity of 25.28%. The firm had revenue of $561.40 million for the quarter, compared to analyst estimates of $594.84 million. During the same quarter in the prior year, the firm earned $0.48 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities research analysts anticipate that Modine Manufacturing will post 3.27 earnings per share for the current fiscal year.

Insider Activity at Modine Manufacturing

In related news, VP Brian Jon Agen sold 16,799 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $95.64, for a total transaction of $1,606,656.36. Following the transaction, the vice president now owns 102,409 shares of the company’s stock, valued at approximately $9,794,396.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Modine Manufacturing news, CFO Michael B. Lucareli sold 82,312 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the completion of the sale, the chief financial officer now owns 194,587 shares of the company’s stock, valued at approximately $17,577,043.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Brian Jon Agen sold 16,799 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $95.64, for a total transaction of $1,606,656.36. Following the sale, the vice president now directly owns 102,409 shares of the company’s stock, valued at approximately $9,794,396.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,336 shares of company stock valued at $10,330,115. Insiders own 2.86% of the company’s stock.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.