Dimensional Fund Advisors LP Sells 122,414 Shares of Modine Manufacturing Company $MOD

Dimensional Fund Advisors LP lowered its holdings in Modine Manufacturing Company (NYSE:MOD) by 13.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 820,568 shares of the auto parts company’s stock after selling 122,414 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Modine Manufacturing were worth $177,785,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in MOD. Invesco Ltd. raised its holdings in shares of Modine Manufacturing by 120.4% in the fourth quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock valued at $176,037,000 after buying an additional 720,389 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Modine Manufacturing by 31.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock worth $311,503,000 after acquiring an additional 560,131 shares during the last quarter. WT Asset Management Ltd bought a new stake in Modine Manufacturing during the 4th quarter worth about $69,255,000. Norges Bank acquired a new stake in Modine Manufacturing in the 4th quarter valued at about $58,309,000. Finally, Van Berkom & Associates Inc. increased its position in Modine Manufacturing by 3,145.2% in the 4th quarter. Van Berkom & Associates Inc. now owns 436,084 shares of the auto parts company’s stock valued at $58,222,000 after acquiring an additional 422,646 shares in the last quarter. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Performance

Modine Manufacturing stock opened at $241.46 on Friday. The company has a market cap of $12.82 billion, a PE ratio of 107.80, a PEG ratio of 0.78 and a beta of 1.67. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. Modine Manufacturing Company has a 1 year low of $98.90 and a 1 year high of $323.25. The company’s 50-day moving average is $262.07 and its two-hundred day moving average is $227.62.

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

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, VP Brian Jon Agen sold 38,282 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $295.17, for a total value of $11,299,697.94. Following the transaction, the vice president directly owned 66,343 shares of the company’s stock, valued at approximately $19,582,463.31. This trade represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Ashleman sold 15,000 shares of Modine Manufacturing stock in a transaction 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 sale, the director directly owned 42,350 shares of the company’s stock, valued at $12,219,669. This represents a 26.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 54,302 shares of company stock valued at $15,928,759. 1.92% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MOD shares. Weiss Ratings upgraded shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. DA Davidson reissued a “buy” rating and issued a $330.00 price target on shares of Modine Manufacturing in a report on Monday, June 22nd. KeyCorp boosted their price objective on shares of Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. UBS Group upped their price objective on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $327.14.

Modine Manufacturing 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.