LSV Asset Management Lowers Holdings in Modine Manufacturing (NYSE:MOD)

LSV Asset Management lowered its stake in shares of Modine Manufacturing (NYSE:MODFree Report) by 30.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 752,100 shares of the auto parts company’s stock after selling 332,506 shares during the period. LSV Asset Management owned about 1.44% of Modine Manufacturing worth $34,409,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. FNY Investment Advisers LLC acquired a new stake in Modine Manufacturing during the third quarter valued at $25,000. PNC Financial Services Group Inc. boosted its stake in shares of Modine Manufacturing by 966.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,472 shares of the auto parts company’s stock worth $29,000 after acquiring an additional 1,334 shares in the last quarter. Point72 Middle East FZE acquired a new stake in shares of Modine Manufacturing during the 4th quarter valued at about $31,000. Quantbot Technologies LP increased its stake in shares of Modine Manufacturing by 123.5% in the 1st quarter. Quantbot Technologies LP now owns 3,800 shares of the auto parts company’s stock valued at $34,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Modine Manufacturing by 161.3% during the first quarter. Tower Research Capital LLC TRC now owns 1,680 shares of the auto parts company’s stock worth $38,000 after purchasing an additional 1,037 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Modine Manufacturing Trading Down 3.5 %

Shares of MOD stock traded down $2.28 on Friday, hitting $62.83. 719,364 shares of the stock traded hands, compared to its average volume of 793,761. Modine Manufacturing has a twelve month low of $19.41 and a twelve month high of $69.90. The stock has a market capitalization of $3.28 billion, a PE ratio of 16.61, a PEG ratio of 0.85 and a beta of 2.30. The firm’s 50-day moving average price is $57.66 and its two-hundred day moving average price is $48.23. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.17 and a current ratio of 1.82.

Modine Manufacturing (NYSE:MODGet Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The auto parts company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.25. Modine Manufacturing had a return on equity of 25.40% and a net margin of 8.50%. The company had revenue of $620.50 million during the quarter, compared to analyst estimates of $616.18 million. During the same period in the prior year, the business posted $0.48 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, analysts anticipate that Modine Manufacturing will post 3.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. StockNews.com cut shares of Modine Manufacturing from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 30th. DA Davidson lifted their price objective on Modine Manufacturing from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, December 26th.

Get Our Latest Report on MOD

Insider Buying and Selling

In related news, Director Christopher William Patterson sold 6,400 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $53.04, for a total transaction of $339,456.00. Following the completion of the transaction, the director now directly owns 111,742 shares in the company, valued at approximately $5,926,795.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Christopher William Patterson sold 6,400 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $53.04, for a total transaction of $339,456.00. Following the completion of the sale, the director now owns 111,742 shares in the company, valued at $5,926,795.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael B. Lucareli sold 60,000 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $50.29, for a total value of $3,017,400.00. Following the completion of the sale, the chief financial officer now directly owns 214,587 shares of the company’s stock, valued at $10,791,580.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,400 shares of company stock valued at $4,456,856. Company insiders own 2.86% of the company’s stock.

Modine Manufacturing Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding MOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Modine Manufacturing (NYSE:MODFree Report).

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

Receive News & Ratings for Modine Manufacturing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Modine Manufacturing and related companies with MarketBeat.com's FREE daily email newsletter.