Modine Manufacturing (NYSE:MOD) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its stake in Modine Manufacturing (NYSE:MOD - Free Report) by 32.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 586,598 shares of the auto parts company's stock after selling 278,913 shares during the period. Victory Capital Management Inc. owned approximately 1.12% of Modine Manufacturing worth $35,020,000 as of its most recent SEC filing.

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

Insider Activity at Modine Manufacturing

In related news, CFO Michael B. Lucareli sold 82,312 shares of Modine Manufacturing stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 194,587 shares in the company, valued at $17,577,043.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Christopher William Patterson sold 14,225 shares of the business's stock in a transaction dated 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 sale, the director now owns 97,517 shares in the company, valued at $8,831,139.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael B. Lucareli sold 82,312 shares of the business's stock in a transaction dated 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 sale, the chief financial officer now owns 194,587 shares in the company, valued at approximately $17,577,043.71. The disclosure for this sale can be found here. Insiders sold 113,336 shares of company stock worth $10,330,115 over the last three months. 2.86% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Modine Manufacturing Stock Up 4.0 %

Shares of MOD stock traded up $4.05 on Tuesday, hitting $104.87. The stock had a trading volume of 1,132,704 shares, compared to its average volume of 960,003. 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 business has a 50 day moving average price of $91.81 and a 200 day moving average price of $70.10. The company has a market cap of $5.48 billion, a PE ratio of 24.73, a P/E/G ratio of 0.72 and a beta of 2.28. Modine Manufacturing has a one year low of $19.53 and a one year high of $106.39.

About Modine Manufacturing

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.