ICM Asset Management Inc. WA Increases Holdings in Modine Manufacturing Co. (MOD)

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ICM Asset Management Inc. WA raised its holdings in shares of Modine Manufacturing Co. (NYSE:MOD) by 27.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 237,730 shares of the auto parts company’s stock after purchasing an additional 51,010 shares during the quarter. Modine Manufacturing makes up 2.5% of ICM Asset Management Inc. WA’s holdings, making the stock its 13th biggest position. ICM Asset Management Inc. WA’s holdings in Modine Manufacturing were worth $3,297,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Deutsche Bank AG lifted its stake in shares of Modine Manufacturing by 4.1% in the fourth quarter. Deutsche Bank AG now owns 111,285 shares of the auto parts company’s stock worth $1,201,000 after acquiring an additional 4,394 shares during the period. Geode Capital Management LLC lifted its stake in shares of Modine Manufacturing by 8.2% in the fourth quarter. Geode Capital Management LLC now owns 521,990 shares of the auto parts company’s stock worth $5,642,000 after acquiring an additional 39,524 shares during the period. Norges Bank acquired a new position in shares of Modine Manufacturing in the fourth quarter worth approximately $6,561,000. Penn Capital Management Co. Inc. lifted its stake in shares of Modine Manufacturing by 21.3% in the fourth quarter. Penn Capital Management Co. Inc. now owns 355,729 shares of the auto parts company’s stock worth $3,845,000 after acquiring an additional 62,350 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Modine Manufacturing by 54.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 36,119 shares of the auto parts company’s stock worth $390,000 after acquiring an additional 12,704 shares during the period. 89.36% of the stock is owned by institutional investors and hedge funds.

MOD traded down $0.05 during trading on Monday, hitting $15.90. The company’s stock had a trading volume of 129,147 shares, compared to its average volume of 207,621. Modine Manufacturing Co. has a twelve month low of $9.75 and a twelve month high of $21.15. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.85 and a current ratio of 1.30. The firm has a market cap of $807.55 million, a PE ratio of 10.45 and a beta of 1.97.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Thursday, January 31st. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.08. Modine Manufacturing had a return on equity of 16.34% and a net margin of 4.32%. The firm had revenue of $541.00 million for the quarter, compared to analyst estimates of $532.74 million. Research analysts predict that Modine Manufacturing Co. will post 1.56 EPS for the current fiscal year.

In other news, VP Scott D. Wollenberg sold 35,334 shares of the company’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $15.35, for a total transaction of $542,376.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Larry Oscar Moore sold 6,600 shares of the company’s stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $15.10, for a total value of $99,660.00. Following the transaction, the director now directly owns 40,761 shares in the company, valued at $615,491.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,922 shares of company stock worth $715,560. Insiders own 4.48% of the company’s stock.

MOD has been the topic of several recent analyst reports. ValuEngine raised Modine Manufacturing from a “strong sell” rating to a “sell” rating in a research note on Saturday, February 2nd. Zacks Investment Research lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th.

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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 primarily in the United States. The company operates through Americas, Europe, Asia, Commercial and Industrial Solutions, and Building HVAC segments.

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Institutional Ownership by Quarter for Modine Manufacturing (NYSE:MOD)

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