Public Employees Retirement System of Ohio Cuts Stock Holdings in Modine Manufacturing (NYSE:MOD)

Public Employees Retirement System of Ohio reduced its position in shares of Modine Manufacturing (NYSE:MOD) by 20.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,089 shares of the auto parts company’s stock after selling 277 shares during the period. Public Employees Retirement System of Ohio’s holdings in Modine Manufacturing were worth $50,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new position in Modine Manufacturing during the third quarter worth about $25,000. PNC Financial Services Group Inc. grew its position in Modine Manufacturing by 966.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,472 shares of the auto parts company’s stock worth $29,000 after buying an additional 1,334 shares during the period. Point72 Middle East FZE acquired a new position in Modine Manufacturing during the fourth quarter worth about $31,000. Quantbot Technologies LP grew its position in Modine Manufacturing by 123.5% during the first quarter. Quantbot Technologies LP now owns 3,800 shares of the auto parts company’s stock worth $34,000 after buying an additional 2,100 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Modine Manufacturing by 161.3% during the first quarter. Tower Research Capital LLC TRC now owns 1,680 shares of the auto parts company’s stock worth $38,000 after buying an additional 1,037 shares during the period. 95.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Modine Manufacturing news, Director Christopher William Patterson sold 14,225 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $90.56, for a total transaction of $1,288,216.00. Following the transaction, the director now owns 97,517 shares of the company’s stock, valued at $8,831,139.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Modine Manufacturing news, CFO Michael B. Lucareli sold 82,312 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the transaction, the chief financial officer now owns 194,587 shares of the company’s stock, valued at $17,577,043.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Christopher William Patterson sold 14,225 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $90.56, for a total transaction of $1,288,216.00. Following the completion of the transaction, the director now directly owns 97,517 shares in the company, valued at approximately $8,831,139.52. The disclosure for this sale can be found here. 2.86% of the stock is currently owned by insiders.

Modine Manufacturing Stock Down 0.1 %

Shares of NYSE MOD opened at $95.19 on Friday. Modine Manufacturing has a 1 year low of $19.41 and a 1 year high of $106.01. The firm’s 50 day moving average price is $80.54 and its 200 day moving average price is $60.78. The firm has a market cap of $4.97 billion, a P/E ratio of 22.45, a price-to-earnings-growth ratio of 0.86 and a beta of 2.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.21 and a current ratio of 1.93.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, January 30th. The auto parts company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.17. Modine Manufacturing had a net margin of 9.31% and a return on equity of 25.28%. The firm had revenue of $561.40 million for the quarter, compared to analyst estimates of $594.84 million. During the same quarter last year, the business earned $0.48 earnings per share. Modine Manufacturing’s revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Modine Manufacturing will post 3.27 earnings per share for the current year.

Wall Street Analyst Weigh In

MOD has been the topic of several recent analyst reports. B. Riley restated a “buy” rating and set a $98.00 target price (up from $88.00) on shares of Modine Manufacturing in a research report on Tuesday, February 27th. DA Davidson reiterated a “buy” rating and issued a $90.00 price target on shares of Modine Manufacturing in a research report on Tuesday, February 27th. StockNews.com lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, Oppenheimer assumed coverage on shares of Modine Manufacturing in a research report on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.67.

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. 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.