Victory Capital Management Inc. Reduces Holdings in Modine Manufacturing (NYSE:MOD)

Victory Capital Management Inc. lessened its position in shares of Modine Manufacturing (NYSE:MOD) by 32.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 586,598 shares of the auto parts company’s stock after selling 278,913 shares during the quarter. Victory Capital Management Inc.’s holdings in Modine Manufacturing were worth $35,020,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in Modine Manufacturing by 51.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,172 shares of the auto parts company’s stock valued at $70,000 after purchasing an additional 400 shares during the period. PNC Financial Services Group Inc. raised its holdings in Modine Manufacturing by 49.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,206 shares of the auto parts company’s stock valued at $101,000 after buying an additional 734 shares during the period. Cookson Peirce & Co. Inc. acquired a new position in Modine Manufacturing in the fourth quarter valued at about $203,000. Welch Group LLC purchased a new position in Modine Manufacturing during the fourth quarter worth about $209,000. Finally, Strs Ohio increased its position in shares of Modine Manufacturing by 28.6% during the fourth quarter. Strs Ohio now owns 3,600 shares of the auto parts company’s stock valued at $214,000 after acquiring an additional 800 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, VP Brian Jon Agen sold 16,799 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $95.64, for a total value of $1,606,656.36. Following the sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Christopher William Patterson sold 14,225 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were 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 owns 97,517 shares in the company, valued at $8,831,139.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Brian Jon Agen sold 16,799 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $95.64, for a total value of $1,606,656.36. Following the completion of the sale, the vice president now owns 102,409 shares in the company, valued at $9,794,396.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,336 shares of company stock worth $10,330,115. Company insiders own 2.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MOD. Oppenheimer started coverage on shares of Modine Manufacturing in a research report on Tuesday, March 19th. They set an “outperform” rating and a $105.00 price objective for the company. StockNews.com cut Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. DA Davidson reissued a “buy” rating and set a $90.00 target price on shares of Modine Manufacturing in a research note on Tuesday, February 27th. 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 research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.67.

Modine Manufacturing Stock Performance

Shares of MOD stock opened at $100.92 on Tuesday. Modine Manufacturing has a 52 week low of $19.53 and a 52 week high of $106.01. The firm has a 50 day moving average of $91.81 and a two-hundred day moving average of $70.10. The company has a quick ratio of 1.21, a current ratio of 1.93 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $5.27 billion, a PE ratio of 23.80, a P/E/G ratio of 0.72 and a beta of 2.28.

Modine Manufacturing 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.