Modine Manufacturing Company $MOD Stock Holdings Lowered by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its holdings in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 13.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 820,568 shares of the auto parts company's stock after selling 122,414 shares during the period. Dimensional Fund Advisors LP owned approximately 1.56% of Modine Manufacturing worth $177,785,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. World Investment Advisors boosted its stake in Modine Manufacturing by 4.1% during the 1st quarter. World Investment Advisors now owns 1,643 shares of the auto parts company's stock valued at $356,000 after purchasing an additional 65 shares during the period. Xponance LLC increased its position in Modine Manufacturing by 1.7% in the 4th quarter. Xponance LLC now owns 4,424 shares of the auto parts company's stock worth $591,000 after buying an additional 75 shares during the period. State of Alaska Department of Revenue increased its position in Modine Manufacturing by 3.4% in the 4th quarter. State of Alaska Department of Revenue now owns 3,156 shares of the auto parts company's stock worth $421,000 after buying an additional 103 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Modine Manufacturing by 18.3% during the fourth quarter. NewEdge Advisors LLC now owns 680 shares of the auto parts company's stock worth $91,000 after buying an additional 105 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in shares of Modine Manufacturing in the first quarter valued at approximately $25,000. 95.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research 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 note on Thursday, May 28th. Wall Street Zen cut shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a research note on Saturday. UBS Group increased their price target on shares of Modine Manufacturing to $310.00 and gave the company a "buy" rating in a report on Wednesday, May 27th. KeyCorp raised their price target 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. Finally, Glj Research restated a "buy" rating and set a $428.00 price target on shares of Modine Manufacturing in a research note on Monday, June 1st. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Modine Manufacturing presently has an average rating of "Moderate Buy" and an average target price of $327.14.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, VP Brian Jon Agen sold 38,282 shares of the business's stock in a transaction dated 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 in the company, valued at $19,582,463.31. The trade was a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 business's stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the transaction, the insider owned 28,364 shares in the company, valued at approximately $8,369,081.84. This trade represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 54,302 shares of company stock valued at $15,928,759 in the last ninety days. Insiders own 1.92% of the company's stock.

Modine Manufacturing Stock Performance

Modine Manufacturing stock opened at $241.46 on Friday. The firm has a market capitalization of $12.82 billion, a P/E ratio of 107.80, a P/E/G ratio of 0.78 and a beta of 1.67. The stock has a fifty day moving average price of $262.07 and a two-hundred day moving average price of $227.62. Modine Manufacturing Company has a 52-week low of $98.90 and a 52-week high of $323.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.51 by $0.20. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The company had revenue of $954.40 million for the quarter, compared to the consensus estimate of $920.67 million. During the same quarter in the previous year, the company earned $1.12 EPS. The firm's revenue for the quarter was up 47.5% compared to the same quarter last year. As a group, analysts anticipate that Modine Manufacturing Company will post 7.72 EPS for the current fiscal year.

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.

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