Modine Manufacturing Company $MOD Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lowered its stake in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,186 shares of the auto parts company's stock after selling 550 shares during the quarter. California State Teachers Retirement System owned about 0.11% of Modine Manufacturing worth $15,536,826 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MOD. Ameritas Advisory Services LLC acquired a new position in shares of Modine Manufacturing during the second quarter valued at about $2,621,000. HB Wealth Management LLC grew its holdings in Modine Manufacturing by 89.9% during the second quarter. HB Wealth Management LLC now owns 2,224 shares of the auto parts company's stock valued at $594,000 after purchasing an additional 1,053 shares during the period. AlphaGrep UK Ltd bought a new position in Modine Manufacturing during the second quarter worth about $243,000. Raiffeisen Bank International AG acquired a new position in shares of Modine Manufacturing in the second quarter valued at approximately $1,025,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in Modine Manufacturing in the 2nd quarter valued at $55,000. 95.23% of the stock is owned by institutional investors.

Modine Manufacturing Price Performance

Shares of MOD stock traded down $4.37 on Tuesday, reaching $177.81. The company's stock had a trading volume of 370,634 shares, compared to its average volume of 1,379,922. The company has a current ratio of 2.04, a quick ratio of 1.22 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $9.44 billion, a price-to-earnings ratio of 66.85, a price-to-earnings-growth ratio of 0.62 and a beta of 1.74. The stock's fifty day simple moving average is $205.86 and its 200-day simple moving average is $232.83. Modine Manufacturing Company has a 1 year low of $111.18 and a 1 year high of $323.25.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.26. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The company had revenue of $874.10 million for the quarter, compared to analyst estimates of $878.69 million. During the same quarter last year, the firm posted $0.95 EPS. The firm's revenue for the quarter was up 28.0% on a year-over-year basis. Analysts forecast that Modine Manufacturing Company will post 7.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MOD. Oppenheimer boosted their price objective on shares of Modine Manufacturing from $271.00 to $325.00 and gave the stock an "outperform" rating in a report on Thursday, May 28th. B. Riley Financial restated a "buy" rating and set a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. DA Davidson restated a "buy" rating and issued a $330.00 target price on shares of Modine Manufacturing in a report on Monday, June 22nd. Wall Street Zen lowered Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, UBS Group boosted their price objective on Modine Manufacturing to $310.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $320.14.

Insider Buying and Selling

In other Modine Manufacturing news, VP Brian Agen sold 38,282 shares of the firm's stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric S. Mcginnis sold 1,020 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $295.06, for a total value of $300,961.20. Following the transaction, the insider directly owned 28,364 shares of the company's stock, valued at $8,369,081.84. The trade was a 3.47% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.92% of the stock is currently owned by company insiders.

Modine Manufacturing Profile

Modine Manufacturing Company NYSE: MOD is a diversified thermal-management company that develops and manufactures products and systems for commercial, industrial, transportation, and building applications. Its solutions are designed to transfer and control heat, improve energy efficiency, and support the operation of engines, vehicles, data centers, and other equipment.

The company operates through businesses focused on climate solutions and performance technologies. Its products and services include heat exchangers, cooling modules, radiators, charge-air coolers, heating and air-conditioning systems, refrigeration and data-center cooling equipment, and thermal-management solutions for electric vehicles and other specialized applications.

Founded in 1916, Modine serves customers in markets worldwide through manufacturing, engineering, and sales operations across North America, Europe, and Asia.

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