Modine Manufacturing Company $MOD Stake Lifted by California Public Employees Retirement System

California Public Employees Retirement System increased its stake in Modine Manufacturing Company (NYSE:MOD) by 2.9% in the 1st quarter, HoldingsChannel reports. The fund owned 92,788 shares of the auto parts company’s stock after acquiring an additional 2,642 shares during the period. California Public Employees Retirement System’s holdings in Modine Manufacturing were worth $20,108,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in Modine Manufacturing during the 1st quarter valued at $25,000. Kemnay Advisory Services Inc. bought a new stake in shares of Modine Manufacturing in the 4th quarter worth $25,000. Spire Wealth Management acquired a new stake in shares of Modine Manufacturing in the fourth quarter valued at $27,000. Sunbelt Securities Inc. bought a new position in Modine Manufacturing during the third quarter valued at about $39,000. Finally, Danske Bank A S acquired a new position in Modine Manufacturing during the third quarter worth about $43,000. Institutional investors own 95.23% of the company’s stock.

Insider Activity

In other news, VP Brian Jon Agen sold 38,282 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.17, for a total value of $11,299,697.94. Following the transaction, the vice president owned 66,343 shares in the company, valued at $19,582,463.31. This represents a 36.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Ashleman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the completion of the sale, the director directly owned 42,350 shares of the company’s stock, valued at $12,219,669. This trade represents a 26.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 54,302 shares of company stock worth $15,928,759 in the last 90 days. Company insiders own 1.92% of the company’s stock.

Modine Manufacturing Price Performance

MOD opened at $249.51 on Thursday. The firm has a market capitalization of $13.25 billion, a P/E ratio of 111.39, a PEG ratio of 0.80 and a beta of 1.67. The stock has a fifty day moving average of $263.53 and a 200-day moving average of $226.75. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. Modine Manufacturing Company has a 12-month low of $94.55 and a 12-month high of $323.25.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.20. The firm had revenue of $954.40 million for the quarter, compared to analyst estimates of $920.67 million. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.Modine Manufacturing’s quarterly revenue was up 47.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 earnings per share. Equities analysts forecast that Modine Manufacturing Company will post 7.72 EPS for the current fiscal year.

Analysts Set New Price Targets

MOD has been the topic of a number of research reports. Zacks Research downgraded shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. DA Davidson restated a “buy” rating and issued a $330.00 price target on shares of Modine Manufacturing in a research report on Monday, June 22nd. UBS Group upped their price target on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Weiss Ratings raised Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Finally, Oppenheimer lifted their target price on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $327.14.

Modine Manufacturing Company Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.