Paradigm Capital Management Inc. NY acquired a new position in Modine Manufacturing Co. (NYSE:MOD) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 509,448 shares of the auto parts company’s stock, valued at approximately $9,297,000. Paradigm Capital Management Inc. NY owned about 1.01% of Modine Manufacturing as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Swiss National Bank raised its stake in Modine Manufacturing by 3.9% during the 1st quarter. Swiss National Bank now owns 87,300 shares of the auto parts company’s stock valued at $1,846,000 after buying an additional 3,300 shares during the last quarter. Hillsdale Investment Management Inc. raised its stake in Modine Manufacturing by 6.2% during the 1st quarter. Hillsdale Investment Management Inc. now owns 70,300 shares of the auto parts company’s stock valued at $1,487,000 after buying an additional 4,100 shares during the last quarter. First Mercantile Trust Co. raised its stake in Modine Manufacturing by 91.4% during the 1st quarter. First Mercantile Trust Co. now owns 9,893 shares of the auto parts company’s stock valued at $209,000 after buying an additional 4,723 shares during the last quarter. Financial Consulate Inc. raised its stake in Modine Manufacturing by 4.0% during the 2nd quarter. Financial Consulate Inc. now owns 129,246 shares of the auto parts company’s stock valued at $2,359,000 after buying an additional 4,935 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Modine Manufacturing by 0.5% during the 1st quarter. Northern Trust Corp now owns 967,982 shares of the auto parts company’s stock valued at $20,472,000 after buying an additional 4,936 shares during the last quarter. Institutional investors own 85.67% of the company’s stock.

In other news, Director Larry Oscar Moore sold 5,400 shares of the business’s stock in a transaction on Tuesday, May 29th. The shares were sold at an average price of $17.80, for a total transaction of $96,120.00. Following the completion of the sale, the director now owns 40,259 shares of the company’s stock, valued at approximately $716,610.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.48% of the company’s stock.

MOD traded down $0.05 during mid-day trading on Friday, reaching $17.25. 7,838 shares of the company traded hands, compared to its average volume of 314,155. The firm has a market cap of $879.49 million, a PE ratio of 11.20 and a beta of 1.38. The company has a current ratio of 1.23, a quick ratio of 0.85 and a debt-to-equity ratio of 0.76. Modine Manufacturing Co. has a 52-week low of $15.45 and a 52-week high of $25.75.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Wednesday, August 1st. The auto parts company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. Modine Manufacturing had a net margin of 1.26% and a return on equity of 17.01%. The firm had revenue of $566.10 million during the quarter, compared to the consensus estimate of $552.12 million. During the same quarter in the previous year, the firm posted $0.39 EPS. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. research analysts forecast that Modine Manufacturing Co. will post 1.59 EPS for the current fiscal year.

A number of equities research analysts have weighed in on MOD shares. ValuEngine lowered shares of Modine Manufacturing from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Zacks Investment Research lowered shares of Modine Manufacturing from a “hold” rating to a “sell” rating in a research note on Thursday, May 31st.

About Modine Manufacturing

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.

Further Reading: Outstanding Shares and The Effect on Share Price

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

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