Modine Manufacturing (NYSE:MOD) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. trimmed its stake in shares of Modine Manufacturing (NYSE:MOD) by 0.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 421,235 shares of the auto parts company’s stock after selling 2,741 shares during the quarter. Modine Manufacturing makes up about 1.9% of Phocas Financial Corp.’s portfolio, making the stock its 2nd largest holding. Phocas Financial Corp. owned about 0.81% of Modine Manufacturing worth $13,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Assetmark Inc. boosted its stake in Modine Manufacturing by 20.5% during the fourth quarter. Assetmark Inc. now owns 2,734 shares of the auto parts company’s stock worth $54,000 after acquiring an additional 466 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Modine Manufacturing by 3.9% in the fourth quarter. Arizona State Retirement System now owns 13,208 shares of the auto parts company’s stock valued at $262,000 after buying an additional 497 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Modine Manufacturing by 1.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 42,861 shares of the auto parts company’s stock valued at $988,000 after buying an additional 575 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Modine Manufacturing by 3.7% in the fourth quarter. Legal & General Group Plc now owns 16,822 shares of the auto parts company’s stock valued at $334,000 after buying an additional 604 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Modine Manufacturing by 3.0% in the first quarter. Envestnet Asset Management Inc. now owns 26,336 shares of the auto parts company’s stock valued at $607,000 after buying an additional 769 shares in the last quarter. 91.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MOD has been the topic of a number of recent research reports. DA Davidson raised their price objective on shares of Modine Manufacturing from $38.00 to $43.00 in a research note on Friday, June 23rd. B. Riley raised their price target on shares of Modine Manufacturing from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, August 4th. StockNews.com assumed coverage on shares of Modine Manufacturing in a research report on Thursday, August 17th. They set a “strong-buy” rating on the stock. Finally, CJS Securities assumed coverage on shares of Modine Manufacturing in a research report on Tuesday, June 13th. They set an “outperform” rating on the stock. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $43.33.

Insider Buying and Selling

In related news, CFO Michael B. Lucareli sold 37,746 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $45.95, for a total transaction of $1,734,428.70. Following the completion of the sale, the chief financial officer now owns 293,012 shares in the company, valued at $13,463,901.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Marsha C. Williams sold 17,286 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $44.63, for a total transaction of $771,474.18. Following the completion of the transaction, the director now owns 172,074 shares of the company’s stock, valued at $7,679,662.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Michael B. Lucareli sold 37,746 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $45.95, for a total transaction of $1,734,428.70. Following the transaction, the chief financial officer now directly owns 293,012 shares of the company’s stock, valued at approximately $13,463,901.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,774 shares of company stock worth $3,066,195. Insiders own 2.86% of the company’s stock.

Modine Manufacturing Stock Performance

NYSE MOD traded down $0.18 during trading hours on Tuesday, reaching $44.29. 109,371 shares of the company were exchanged, compared to its average volume of 524,405. Modine Manufacturing has a 1 year low of $12.85 and a 1 year high of $49.60. The business’s 50 day simple moving average is $42.41 and its 200-day simple moving average is $31.23. The company has a quick ratio of 1.11, a current ratio of 1.76 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $2.32 billion, a P/E ratio of 12.84, a P/E/G ratio of 0.63 and a beta of 2.25.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Wednesday, August 2nd. The auto parts company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.42. Modine Manufacturing had a net margin of 7.72% and a return on equity of 23.96%. The business had revenue of $622.40 million during the quarter, compared to the consensus estimate of $563.10 million. On average, equities research analysts expect that Modine Manufacturing will post 2.88 earnings per share for the current year.

Modine Manufacturing Company Profile

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.