Principal Financial Group Inc. Has $101.22 Million Stock Holdings in Modine Manufacturing (NYSE:MOD)

Principal Financial Group Inc. lowered its stake in Modine Manufacturing (NYSE:MOD - Free Report) by 24.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 873,118 shares of the auto parts company's stock after selling 279,617 shares during the quarter. Principal Financial Group Inc. owned about 1.66% of Modine Manufacturing worth $101,218,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Creative Planning lifted its position in shares of Modine Manufacturing by 52.3% in the third quarter. Creative Planning now owns 14,764 shares of the auto parts company's stock worth $1,961,000 after purchasing an additional 5,068 shares in the last quarter. Vontobel Holding Ltd. acquired a new stake in Modine Manufacturing in the 3rd quarter valued at about $230,000. Raymond James & Associates lifted its stake in Modine Manufacturing by 15.8% in the 3rd quarter. Raymond James & Associates now owns 30,812 shares of the auto parts company's stock valued at $4,092,000 after purchasing an additional 4,206 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Modine Manufacturing by 29.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 180,259 shares of the auto parts company's stock worth $23,937,000 after purchasing an additional 40,936 shares during the period. Finally, Jade Capital Advisors LLC acquired a new position in Modine Manufacturing during the third quarter worth approximately $1,129,000. 95.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Oppenheimer raised their price objective on Modine Manufacturing from $144.00 to $145.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st.

Modine Manufacturing Stock Performance

Shares of MOD traded down $7.80 during trading hours on Friday, hitting $86.29. The company had a trading volume of 1,655,720 shares, compared to its average volume of 1,701,889. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 0.71 and a beta of 2.31. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. The business has a fifty day moving average of $113.12 and a 200-day moving average of $119.63. Modine Manufacturing has a 12 month low of $78.58 and a 12 month high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.13. Modine Manufacturing had a net margin of 6.31% and a return on equity of 24.25%. Equities analysts anticipate that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.