Teachers Advisors LLC Increases Stake in Modine Manufacturing Company (MOD)
Teachers Advisors LLC raised its stake in Modine Manufacturing Company (NYSE:MOD) by 7.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 105,787 shares of the auto parts company’s stock after buying an additional 7,158 shares during the period. Teachers Advisors LLC owned about 0.21% of Modine Manufacturing worth $1,291,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. Tricadia Capital Management LLC acquired a new stake in Modine Manufacturing during the first quarter valued at about $4,941,000. American International Group Inc. increased its position in shares of Modine Manufacturing by 7.0% in the first quarter. American International Group Inc. now owns 28,990 shares of the auto parts company’s stock valued at $354,000 after buying an additional 1,907 shares during the period. Norges Bank purchased a new position in shares of Modine Manufacturing during the fourth quarter valued at $2,022,000. LSV Asset Management increased its position in shares of Modine Manufacturing by 1.3% in the first quarter. LSV Asset Management now owns 1,517,696 shares of the auto parts company’s stock valued at $18,515,000 after buying an additional 19,800 shares during the period. Finally, Frontier Capital Management Co. LLC increased its position in shares of Modine Manufacturing by 4.4% in the first quarter. Frontier Capital Management Co. LLC now owns 4,879,494 shares of the auto parts company’s stock valued at $59,530,000 after buying an additional 204,378 shares during the period. Institutional investors own 83.37% of the company’s stock.
Shares of Modine Manufacturing Company (MOD) traded down 0.155% on Monday, hitting $16.075. 18,579 shares of the stock traded hands. Modine Manufacturing Company has a 12-month low of $9.25 and a 12-month high of $17.85. The stock has a market cap of $805.71 million, a price-to-earnings ratio of 34.946 and a beta of 1.20. The stock has a 50-day moving average price of $16.35 and a 200 day moving average price of $13.82.
Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, August 1st. The auto parts company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.09. Modine Manufacturing had a return on equity of 11.16% and a net margin of 1.35%. The business had revenue of $515.50 million for the quarter, compared to analysts’ expectations of $482.70 million. During the same quarter in the prior year, the business earned $0.23 EPS. The firm’s revenue for the quarter was up 48.5% on a year-over-year basis. On average, analysts anticipate that Modine Manufacturing Company will post $1.41 earnings per share for the current fiscal year.
Several research analysts have recently weighed in on MOD shares. ValuEngine upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub downgraded shares of Modine Manufacturing from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. TheStreet upgraded shares of Modine Manufacturing from a “c” rating to a “b-” rating in a research note on Tuesday, August 1st. Finally, Zacks Investment Research downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $17.00.
In related news, VP Scott D. Wollenberg sold 5,736 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $15.95, for a total value of $91,489.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.42% of the stock is currently owned by corporate insiders.
Modine Manufacturing Company Profile
Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on-highway and off-highway original equipment manufacturer (OEM) vehicular applications, and for sale into an array of building, industrial and refrigeration markets. The Company’s products include radiators and radiator cores, exhaust gas recirculation coolers, building heating, ventilating and air conditioning (HVAC) equipment, and coils.
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