Arizona State Retirement System Sells 239 Shares of Modine Manufacturing (NYSE:MOD)

Arizona State Retirement System lowered its position in Modine Manufacturing (NYSE:MOD) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,885 shares of the auto parts company’s stock after selling 239 shares during the period. Arizona State Retirement System’s holdings in Modine Manufacturing were worth $829,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of MOD. Reinhart Partners LLC. bought a new position in Modine Manufacturing in the 4th quarter worth approximately $41,129,000. American Century Companies Inc. grew its holdings in Modine Manufacturing by 570.1% during the 3rd quarter. American Century Companies Inc. now owns 700,758 shares of the auto parts company’s stock worth $32,060,000 after acquiring an additional 596,177 shares during the period. BlackRock Inc. grew its holdings in Modine Manufacturing by 9.0% during the 1st quarter. BlackRock Inc. now owns 4,965,774 shares of the auto parts company’s stock worth $114,461,000 after acquiring an additional 410,505 shares during the period. Wells Fargo & Company MN grew its holdings in Modine Manufacturing by 31,897.3% during the 4th quarter. Wells Fargo & Company MN now owns 366,049 shares of the auto parts company’s stock worth $7,270,000 after acquiring an additional 364,905 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its holdings in Modine Manufacturing by 159.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 480,118 shares of the auto parts company’s stock worth $21,965,000 after acquiring an additional 295,118 shares during the period. Institutional investors own 95.23% of the company’s stock.

Insider Activity

In other news, CFO Michael B. Lucareli sold 82,312 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $90.33, for a total value 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 approximately $17,577,043.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Michael B. Lucareli sold 82,312 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $90.33, for a total value 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 approximately $17,577,043.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Christopher William Patterson sold 14,225 shares of the stock in a transaction dated 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 $8,831,139.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,336 shares of company stock valued at $10,330,115. 2.86% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on MOD shares. DA Davidson reaffirmed a “buy” rating and set a $90.00 target price on shares of Modine Manufacturing in a report on Tuesday, February 27th. Oppenheimer started coverage on shares of Modine Manufacturing in a report on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 price target for the company. B. Riley reissued a “buy” rating and issued a $98.00 price target (up previously from $88.00) on shares of Modine Manufacturing in a report on Tuesday, February 27th. Finally, StockNews.com lowered shares of 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.67.

Modine Manufacturing Trading Down 5.2 %

Shares of NYSE:MOD opened at $85.64 on Thursday. The company’s 50-day moving average price is $88.26 and its two-hundred day moving average price is $65.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.93 and a quick ratio of 1.21. Modine Manufacturing has a one year low of $19.41 and a one year high of $106.01. The stock has a market capitalization of $4.47 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 0.69 and a beta of 2.29.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, January 30th. The auto parts company reported $0.74 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $594.84 million. During the same period in the previous year, the firm posted $0.48 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts forecast that Modine Manufacturing will post 3.27 EPS for the current fiscal 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.