Parametric Portfolio Associates LLC trimmed its stake in shares of Modine Manufacturing Co. (NYSE:MOD) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 706,582 shares of the auto parts company’s stock after selling 23,590 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Modine Manufacturing were worth $9,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of MOD. Shell Asset Management Co. bought a new stake in Modine Manufacturing during the first quarter worth $440,000. New York State Common Retirement Fund lifted its holdings in Modine Manufacturing by 139.9% during the first quarter. New York State Common Retirement Fund now owns 322,838 shares of the auto parts company’s stock worth $4,478,000 after acquiring an additional 188,284 shares during the period. Penn Capital Management Co. Inc. lifted its holdings in Modine Manufacturing by 105.9% during the first quarter. Penn Capital Management Co. Inc. now owns 732,340 shares of the auto parts company’s stock worth $10,158,000 after acquiring an additional 376,611 shares during the period. IndexIQ Advisors LLC bought a new stake in Modine Manufacturing during the first quarter worth $740,000. Finally, Victory Capital Management Inc. lifted its holdings in Modine Manufacturing by 36.7% during the first quarter. Victory Capital Management Inc. now owns 142,424 shares of the auto parts company’s stock worth $1,975,000 after acquiring an additional 38,224 shares during the period. Institutional investors own 88.44% of the company’s stock.
A number of analysts recently commented on MOD shares. ValuEngine upgraded Modine Manufacturing from a “strong sell” rating to a “sell” rating in a report on Friday, May 24th. Zacks Investment Research lowered Modine Manufacturing from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 28th.
Shares of Modine Manufacturing stock opened at $13.85 on Friday. The firm has a market cap of $701.04 million, a P/E ratio of 8.75 and a beta of 1.99. Modine Manufacturing Co. has a 12 month low of $9.75 and a 12 month high of $19.35. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.86 and a current ratio of 1.25.
Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Wednesday, May 22nd. The auto parts company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.02. The business had revenue of $556.70 million for the quarter, compared to analyst estimates of $577.30 million. Modine Manufacturing had a return on equity of 15.61% and a net margin of 3.83%. Modine Manufacturing’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. Research analysts anticipate that Modine Manufacturing Co. will post 1.63 EPS for the current year.
In other news, VP Dennis P. Appel bought 3,180 shares of the stock in a transaction on Friday, March 22nd. The shares were purchased at an average cost of $13.99 per share, for a total transaction of $44,488.20. Following the completion of the purchase, the vice president now directly owns 33,543 shares in the company, valued at approximately $469,266.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.48% of the company’s stock.
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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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