Alliancebernstein L.P. cut its position in shares of Modine Manufacturing Co. (NYSE:MOD) by 6.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 62,580 shares of the auto parts company’s stock after selling 4,500 shares during the period. Alliancebernstein L.P. owned approximately 0.12% of Modine Manufacturing worth $763,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. DnB Asset Management AS raised its position in Modine Manufacturing by 22.9% in the first quarter. DnB Asset Management AS now owns 1,334,355 shares of the auto parts company’s stock worth $16,279,000 after buying an additional 248,371 shares during the period. State Street Corp raised its position in Modine Manufacturing by 4.2% in the fourth quarter. State Street Corp now owns 1,012,362 shares of the auto parts company’s stock worth $15,079,000 after buying an additional 40,946 shares during the period. Highbridge Capital Management LLC purchased a new position in Modine Manufacturing during the fourth quarter worth about $281,000. Tricadia Capital Management LLC purchased a new position in Modine Manufacturing during the first quarter worth about $4,941,000. Finally, American International Group Inc. raised its position in 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 worth $354,000 after buying an additional 1,907 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Modine Manufacturing Co. (MOD) traded down 0.31% during mid-day trading on Wednesday, reaching $15.90. 171,295 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $16.52 and a 200-day moving average price of $13.70. Modine Manufacturing Co. has a 1-year low of $9.25 and a 1-year high of $17.85. The company has a market capitalization of $796.94 million, a P/E ratio of 34.57 and a beta of 1.20.
Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, August 1st. The auto parts company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.09. The company had revenue of $515.50 million for the quarter, compared to the consensus estimate of $482.70 million. Modine Manufacturing had a return on equity of 15.79% and a net margin of 3.38%. The company’s revenue for the quarter was up 48.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS. On average, equities research analysts forecast that Modine Manufacturing Co. will post $1.41 earnings per share for the current fiscal year.
A number of research firms have issued reports on MOD. BidaskClub upgraded shares of Modine Manufacturing from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Zacks Investment Research upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Thursday, June 1st. ValuEngine lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Friday, May 26th. Finally, TheStreet upgraded shares of Modine Manufacturing from a “c” rating to a “b-” rating in a report on Tuesday, August 1st. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $17.00.
In other Modine Manufacturing news, VP Scott D. Wollenberg sold 5,736 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $15.95, for a total value of $91,489.20. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 4.42% of the company’s stock.
About Modine Manufacturing
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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