Robeco Institutional Asset Management B.V. Trims Stock Holdings in Modine Manufacturing (NYSE:MOD)

Robeco Institutional Asset Management B.V. reduced its stake in Modine Manufacturing (NYSE:MOD) by 53.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,378 shares of the auto parts company’s stock after selling 3,834 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Modine Manufacturing were worth $202,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Principal Securities Inc. purchased a new stake in shares of Modine Manufacturing during the fourth quarter valued at $29,000. Nisa Investment Advisors LLC boosted its position in shares of Modine Manufacturing by 51.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,172 shares of the auto parts company’s stock valued at $70,000 after buying an additional 400 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Modine Manufacturing by 49.9% during the third quarter. PNC Financial Services Group Inc. now owns 2,206 shares of the auto parts company’s stock valued at $101,000 after buying an additional 734 shares during the last quarter. AJOVista LLC purchased a new stake in shares of Modine Manufacturing during the fourth quarter valued at $133,000. Finally, Invst LLC purchased a new stake in shares of Modine Manufacturing during the fourth quarter valued at $181,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Trading Up 7.2 %

Shares of NYSE MOD opened at $103.67 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.64 and a quick ratio of 1.21. The stock has a market capitalization of $5.42 billion, a P/E ratio of 34.21, a price-to-earnings-growth ratio of 0.76 and a beta of 2.28. Modine Manufacturing has a 1-year low of $22.28 and a 1-year high of $109.53. The business has a fifty day moving average price of $96.16 and a 200 day moving average price of $75.78.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, May 21st. The auto parts company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.02). Modine Manufacturing had a net margin of 6.71% and a return on equity of 24.69%. The business had revenue of $603.50 million for the quarter, compared to analyst estimates of $605.44 million. During the same period in the prior year, the company earned $0.67 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Equities research analysts expect that Modine Manufacturing will post 3.72 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on MOD shares. DA Davidson increased their target price on Modine Manufacturing from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday. B. Riley reissued a “buy” rating and issued a $98.00 target price (up previously from $88.00) on shares of Modine Manufacturing in a report on Tuesday, February 27th. Oppenheimer raised their price objective on Modine Manufacturing from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, StockNews.com downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $109.33.

Insider Activity

In related news, CFO Michael B. Lucareli sold 82,312 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the sale, the chief financial officer now directly owns 194,587 shares of the company’s stock, valued at $17,577,043.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 stock was 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 in the company, valued at $17,577,043.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian Jon Agen sold 16,799 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $95.64, for a total value of $1,606,656.36. Following the transaction, the vice president now owns 102,409 shares in the company, valued at approximately $9,794,396.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,336 shares of company stock valued at $10,330,115. Company insiders own 2.86% of the company’s stock.

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.