Russell Investments Group Ltd. Lowers Stock Holdings in Modine Manufacturing (NYSE:MOD)

Russell Investments Group Ltd. trimmed its holdings in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 28.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,420 shares of the auto parts company's stock after selling 88,113 shares during the period. Russell Investments Group Ltd. owned about 0.42% of Modine Manufacturing worth $13,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in MOD. Nisa Investment Advisors LLC lifted its stake in shares of Modine Manufacturing by 51.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,172 shares of the auto parts company's stock worth $70,000 after purchasing an additional 400 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Modine Manufacturing by 49.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,206 shares of the auto parts company's stock valued at $101,000 after buying an additional 734 shares in the last quarter. Cookson Peirce & Co. Inc. bought a new stake in shares of Modine Manufacturing in the 4th quarter valued at about $203,000. Welch Group LLC purchased a new position in shares of Modine Manufacturing in the 4th quarter worth approximately $209,000. Finally, Strs Ohio raised its stake in shares of Modine Manufacturing by 28.6% during the 4th quarter. Strs Ohio now owns 3,600 shares of the auto parts company's stock worth $214,000 after acquiring an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company's stock.

Modine Manufacturing Stock Performance

MOD stock traded down $0.04 during midday trading on Friday, reaching $94.11. The stock had a trading volume of 493,194 shares, compared to its average volume of 787,055. The firm has a fifty day simple moving average of $91.52 and a two-hundred day simple moving average of $69.69. Modine Manufacturing has a 52-week low of $19.41 and a 52-week high of $106.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.21 and a current ratio of 1.93. The stock has a market cap of $4.91 billion, a PE ratio of 22.20, a P/E/G ratio of 0.72 and a beta of 2.28.

Analysts Set New Price Targets

Several equities analysts have issued reports on MOD shares. DA Davidson reaffirmed a "buy" rating and issued a $90.00 price target on shares of Modine Manufacturing in a report on Tuesday, February 27th. B. Riley reaffirmed a "buy" rating and set a $98.00 target price (up from $88.00) on shares of Modine Manufacturing in a research report on Tuesday, February 27th. StockNews.com downgraded Modine Manufacturing from a "buy" rating to a "hold" rating in a report on Wednesday, January 31st. Finally, Oppenheimer assumed 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 equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $97.67.

Insider Activity

In other Modine Manufacturing news, CFO Michael B. Lucareli sold 82,312 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the completion of the sale, the chief financial officer now directly owns 194,587 shares in the company, valued at approximately $17,577,043.71. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP Brian Jon Agen sold 16,799 shares of the firm's stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $95.64, for a total transaction of $1,606,656.36. Following the sale, the vice president now directly owns 102,409 shares of the company's stock, valued at $9,794,396.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael B. Lucareli sold 82,312 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $90.33, for a total value of $7,435,242.96. Following the completion of the transaction, the chief financial officer now directly owns 194,587 shares of the company's stock, valued at $17,577,043.71. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,336 shares of company stock valued at $10,330,115. Company insiders own 2.86% of the company's stock.

Modine Manufacturing 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.