Principal Financial Group Inc. Increases Stock Position in Modine Manufacturing (NYSE:MOD)

Principal Financial Group Inc. raised its holdings in shares of Modine Manufacturing (NYSE:MODGet Rating) by 27.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,642,110 shares of the auto parts company’s stock after purchasing an additional 349,830 shares during the period. Principal Financial Group Inc.’s holdings in Modine Manufacturing were worth $17,291,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Quantbot Technologies LP raised its holdings in shares of Modine Manufacturing by 123.5% during the first 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 during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Modine Manufacturing by 132.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,394 shares of the auto parts company’s stock worth $40,000 after acquiring an additional 2,500 shares during the period. US Bancorp DE increased its position in Modine Manufacturing by 171.4% during the second quarter. US Bancorp DE now owns 4,921 shares of the auto parts company’s stock valued at $52,000 after acquiring an additional 3,108 shares during the last quarter. Amalgamated Bank bought a new position in Modine Manufacturing in the first quarter valued at about $57,000. Finally, Westwood Holdings Group Inc. purchased a new position in Modine Manufacturing in the first quarter worth about $94,000. Institutional investors own 89.37% of the company’s stock.

Modine Manufacturing Trading Down 1.7 %

Shares of Modine Manufacturing stock opened at $21.10 on Thursday. Modine Manufacturing has a fifty-two week low of $7.67 and a fifty-two week high of $22.13. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.97 and a current ratio of 1.58. The company has a market capitalization of $1.10 billion, a P/E ratio of 9.17, a P/E/G ratio of 0.48 and a beta of 2.28. The company has a fifty day moving average of $16.49 and a 200 day moving average of $13.84.

Wall Street Analysts Forecast Growth

MOD has been the topic of several recent research reports. DA Davidson increased their price objective on shares of Modine Manufacturing to $20.00 in a research note on Monday, August 15th. StockNews.com cut shares of Modine Manufacturing from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 4th. Finally, TheStreet upgraded Modine Manufacturing from a “c+” rating to a “b-” rating in a research note on Thursday, November 3rd.

Insider Activity

In related news, CFO Michael B. Lucareli sold 60,000 shares of Modine Manufacturing stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $19.58, for a total transaction of $1,174,800.00. Following the sale, the chief financial officer now owns 293,287 shares of the company’s stock, valued at approximately $5,742,559.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Modine Manufacturing news, Director Larry Oscar Moore sold 16,700 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $15.67, for a total value of $261,689.00. Following the sale, the director now owns 75,515 shares in the company, valued at approximately $1,183,320.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael B. Lucareli sold 60,000 shares of the stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $19.58, for a total transaction of $1,174,800.00. Following the transaction, the chief financial officer now directly owns 293,287 shares of the company’s stock, valued at approximately $5,742,559.46. The disclosure for this sale can be found here. Company insiders own 3.06% of the company’s stock.

Modine Manufacturing Company Profile

(Get Rating)

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

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