Phocas Financial Corp. Has $9.08 Million Stock Position in Modine Manufacturing (NYSE:MOD)

Phocas Financial Corp. lessened its holdings in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 35.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 152,120 shares of the auto parts company's stock after selling 84,643 shares during the quarter. Modine Manufacturing comprises about 1.2% of Phocas Financial Corp.'s holdings, making the stock its 18th biggest holding. Phocas Financial Corp. owned about 0.29% of Modine Manufacturing worth $9,082,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MOD. FNY Investment Advisers LLC acquired a new stake in shares of Modine Manufacturing during the third quarter worth about $25,000. PNC Financial Services Group Inc. raised its holdings in Modine Manufacturing by 966.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,472 shares of the auto parts company's stock valued at $29,000 after acquiring an additional 1,334 shares in the last quarter. Point72 Middle East FZE acquired a new stake in Modine Manufacturing in the fourth quarter valued at approximately $31,000. Quantbot Technologies LP raised its holdings in Modine Manufacturing by 123.5% in the first quarter. Quantbot Technologies LP now owns 3,800 shares of the auto parts company's stock valued at $34,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Modine Manufacturing by 161.3% in the first quarter. Tower Research Capital LLC TRC now owns 1,680 shares of the auto parts company's stock valued at $38,000 after acquiring an additional 1,037 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company's stock.

Insiders Place Their Bets

In other news, CFO Michael B. Lucareli sold 82,312 shares of Modine Manufacturing stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the completion of the transaction, the chief financial officer now owns 194,587 shares of the company's stock, valued at approximately $17,577,043.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Christopher William Patterson sold 14,225 shares of Modine Manufacturing stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $90.56, for a total transaction of $1,288,216.00. Following the completion of the transaction, the director now owns 97,517 shares of the company's stock, valued at approximately $8,831,139.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael B. Lucareli sold 82,312 shares of Modine Manufacturing stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $90.33, for a total value of $7,435,242.96. Following the transaction, the chief financial officer now directly owns 194,587 shares of the company's stock, valued at approximately $17,577,043.71. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,336 shares of company stock worth $10,330,115. Corporate insiders own 2.86% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on MOD. DA Davidson reaffirmed a "buy" rating and issued a $90.00 target price on shares of Modine Manufacturing in a report on Tuesday, February 27th. B. Riley reissued a "buy" rating and set a $98.00 price objective (up previously from $88.00) on shares of Modine Manufacturing in a report on Tuesday, February 27th. StockNews.com cut shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a report on Wednesday, January 31st. Finally, Oppenheimer began coverage on shares of Modine Manufacturing in a report on Tuesday, March 19th. They set an "outperform" rating and a $105.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $97.67.

Modine Manufacturing Stock Performance

NYSE:MOD traded down $1.05 during midday trading on Friday, reaching $92.36. The stock had a trading volume of 526,299 shares, compared to its average volume of 1,007,632. The firm has a fifty day simple moving average of $87.05 and a two-hundred day simple moving average of $65.06. Modine Manufacturing has a 12-month low of $19.41 and a 12-month high of $106.01. The company has a quick ratio of 1.21, a current ratio of 1.93 and a debt-to-equity ratio of 0.43. The stock has a market cap of $4.82 billion, a P/E ratio of 21.78, a P/E/G ratio of 0.70 and a beta of 2.29.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The auto parts company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.17. The firm had revenue of $561.40 million for the quarter, compared to analyst estimates of $594.84 million. Modine Manufacturing had a net margin of 9.31% and a return on equity of 25.28%. Modine Manufacturing's quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm posted $0.48 EPS. On average, equities analysts expect that Modine Manufacturing will post 3.27 EPS for the current year.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.