Dimensional Fund Advisors LP Lowers Stock Position in Modine Manufacturing Company $MOD

Dimensional Fund Advisors LP lessened its stake in shares of Modine Manufacturing Company (NYSE:MOD) by 6.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,041,500 shares of the auto parts company’s stock after selling 71,374 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.98% of Modine Manufacturing worth $148,053,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in Modine Manufacturing by 13.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 84,616 shares of the auto parts company’s stock worth $12,512,000 after purchasing an additional 9,989 shares in the last quarter. Schear Investment Advisers LLC acquired a new stake in Modine Manufacturing in the second quarter valued at approximately $1,547,000. Principal Financial Group Inc. boosted its stake in Modine Manufacturing by 0.9% in the third quarter. Principal Financial Group Inc. now owns 749,845 shares of the auto parts company’s stock valued at $106,598,000 after acquiring an additional 6,847 shares in the last quarter. Y Intercept Hong Kong Ltd grew its holdings in Modine Manufacturing by 390.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 16,861 shares of the auto parts company’s stock worth $2,397,000 after purchasing an additional 13,424 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Modine Manufacturing by 12.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 48,189 shares of the auto parts company’s stock worth $6,851,000 after purchasing an additional 5,319 shares in the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Suresh V. Garimella sold 1,100 shares of Modine Manufacturing stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total transaction of $202,477.00. Following the completion of the transaction, the director directly owned 79,856 shares in the company, valued at approximately $14,699,093.92. This trade represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.48% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wall Street Zen lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. DA Davidson upped their target price on Modine Manufacturing from $255.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Oppenheimer increased their price objective on shares of Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. UBS Group assumed coverage on shares of Modine Manufacturing in a research note on Thursday, November 20th. They set a “buy” rating and a $173.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Modine Manufacturing has a consensus rating of “Buy” and a consensus target price of $223.20.

Modine Manufacturing Trading Up 0.1%

Shares of Modine Manufacturing stock opened at $201.37 on Wednesday. The stock has a market cap of $10.62 billion, a PE ratio of 111.87, a price-to-earnings-growth ratio of 1.23 and a beta of 1.67. The firm has a fifty day moving average price of $180.09 and a 200 day moving average price of $158.96. Modine Manufacturing Company has a 1 year low of $64.79 and a 1 year high of $243.80. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.19 and a quick ratio of 1.28.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.20. The company had revenue of $805.00 million for the quarter, compared to the consensus estimate of $763.54 million. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The firm’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period last year, the firm earned $0.92 EPS. Equities research analysts predict that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

Modine Manufacturing Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.