Russell Investments Group Ltd. cut its stake in shares of Modine Manufacturing (NYSE:MOD – Get Rating) by 57.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 320,687 shares of the auto parts company's stock after selling 436,440 shares during the period. Russell Investments Group Ltd. owned about 0.62% of Modine Manufacturing worth $2,888,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL raised its position in Modine Manufacturing by 1.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 3,078,399 shares of the auto parts company's stock worth $31,061,000 after acquiring an additional 44,700 shares during the period. Paradigm Capital Management Inc. NY grew its holdings in shares of Modine Manufacturing by 87.6% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 1,926,600 shares of the auto parts company's stock worth $19,439,000 after buying an additional 899,400 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Modine Manufacturing by 7.4% during the fourth quarter. Royce & Associates LP now owns 1,862,667 shares of the auto parts company's stock worth $18,794,000 after buying an additional 127,671 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Modine Manufacturing during the fourth quarter worth $18,664,000. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of Modine Manufacturing by 21.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 827,420 shares of the auto parts company's stock worth $8,349,000 after buying an additional 145,088 shares in the last quarter. 94.42% of the stock is currently owned by institutional investors and hedge funds.
Get Modine Manufacturing alerts:Insider Activity at Modine Manufacturing
In related news, CFO Michael B. Lucareli sold 3,783 shares of the company's stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $11.94, for a total value of $45,169.02. Following the completion of the sale, the chief financial officer now owns 274,572 shares of the company's stock, valued at $3,278,389.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.06% of the stock is currently owned by insiders.
Modine Manufacturing Price Performance
Modine Manufacturing stock opened at $16.68 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.57 and a debt-to-equity ratio of 0.81. Modine Manufacturing has a 52-week low of $7.67 and a 52-week high of $16.74. The company has a fifty day simple moving average of $12.06 and a 200-day simple moving average of $10.20. The firm has a market capitalization of $866.86 million, a price-to-earnings ratio of 9.02, a PEG ratio of 0.37 and a beta of 2.34.Modine Manufacturing (NYSE:MOD – Get Rating) last announced its quarterly earnings data on Wednesday, May 25th. The auto parts company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.08. Modine Manufacturing had a net margin of 4.64% and a return on equity of 16.65%. The firm had revenue of $574.40 million during the quarter. During the same period in the prior year, the company posted $0.51 EPS. On average, equities analysts anticipate that Modine Manufacturing will post 1.7 EPS for the current fiscal year.
Wall Street Analyst Weigh In
MOD has been the subject of a number of research reports. DA Davidson upped their target price on shares of Modine Manufacturing to $20.00 in a report on Tuesday, August 9th. StockNews.com raised shares of Modine Manufacturing from a "buy" rating to a "strong-buy" rating in a report on Friday, August 5th.
About Modine Manufacturing
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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.
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