Nisa Investment Advisors LLC Has $70,000 Position in Modine Manufacturing (NYSE:MOD)

Nisa Investment Advisors LLC increased its position in shares of Modine Manufacturing (NYSE:MOD) by 51.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,172 shares of the auto parts company’s stock after buying an additional 400 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Modine Manufacturing were worth $70,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Legato Capital Management LLC raised its holdings in shares of Modine Manufacturing by 193.7% in the fourth quarter. Legato Capital Management LLC now owns 24,317 shares of the auto parts company’s stock valued at $1,452,000 after purchasing an additional 16,037 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Modine Manufacturing by 3.2% in the third quarter. Vanguard Group Inc. now owns 3,056,893 shares of the auto parts company’s stock valued at $139,853,000 after purchasing an additional 95,255 shares during the last quarter. SG Capital Management LLC raised its holdings in shares of Modine Manufacturing by 1,457.9% in the third quarter. SG Capital Management LLC now owns 208,659 shares of the auto parts company’s stock valued at $9,546,000 after purchasing an additional 195,265 shares during the last quarter. Reinhart Partners LLC. acquired a new stake in shares of Modine Manufacturing in the fourth quarter valued at approximately $41,129,000. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in shares of Modine Manufacturing by 107.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 11,732 shares of the auto parts company’s stock valued at $700,000 after purchasing an additional 6,075 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. DA Davidson reiterated a “buy” rating and issued a $90.00 price objective on shares of Modine Manufacturing in a report on Tuesday, February 27th. StockNews.com downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Oppenheimer initiated coverage on shares of Modine Manufacturing in a report on Tuesday, March 19th. They set an “outperform” rating and a $105.00 target price on the stock. Finally, B. Riley restated a “buy” rating and set a $98.00 target price (up from $88.00) on shares of Modine Manufacturing in a report on Tuesday, February 27th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.67.

Modine Manufacturing Trading Down 0.1 %

Shares of Modine Manufacturing stock opened at $83.69 on Monday. Modine Manufacturing has a 52-week low of $19.41 and a 52-week high of $106.01. The firm has a 50-day moving average of $88.71 and a 200-day moving average of $66.52. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.21 and a current ratio of 1.93. The stock has a market cap of $4.37 billion, a PE ratio of 19.74, a PEG ratio of 0.64 and a beta of 2.29.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, January 30th. The auto parts company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.17. Modine Manufacturing had a net margin of 9.31% and a return on equity of 25.28%. The business had revenue of $561.40 million during the quarter, compared to analysts’ expectations of $594.84 million. During the same quarter in the prior year, the business posted $0.48 earnings per share. Modine Manufacturing’s revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts forecast that Modine Manufacturing will post 3.27 EPS for the current year.

Insider Buying and Selling

In related news, CFO Michael B. Lucareli sold 82,312 shares of the company’s stock in a transaction dated 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 $17,577,043.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Michael B. Lucareli sold 82,312 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $90.33, for a total value of $7,435,242.96. Following the completion of the transaction, the chief financial officer now owns 194,587 shares of the company’s stock, valued at $17,577,043.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher William Patterson sold 14,225 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $90.56, for a total transaction of $1,288,216.00. Following the completion of the transaction, the director now directly owns 97,517 shares of the company’s stock, valued at approximately $8,831,139.52. The disclosure for this sale can be found here. Insiders sold 113,336 shares of company stock valued at $10,330,115 over the last quarter. 2.86% of the stock is owned by company insiders.

About Modine Manufacturing

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.