Modine Manufacturing (NYSE:MOD) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of Modine Manufacturing (NYSE:MOD) by 24.3% during the fourth quarter, according to 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 period. Principal Financial Group Inc. owned about 1.66% of Modine Manufacturing worth $101,218,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC increased its position in Modine Manufacturing by 6.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock valued at $157,000 after acquiring an additional 82 shares during the period. Principal Securities Inc. increased its position in Modine Manufacturing by 97.8% in the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock valued at $63,000 after acquiring an additional 269 shares during the period. Legend Financial Advisors Inc. increased its position in Modine Manufacturing by 2.9% in the 4th quarter. Legend Financial Advisors Inc. now owns 9,929 shares of the auto parts company’s stock valued at $1,151,000 after acquiring an additional 279 shares during the period. Inspire Investing LLC increased its position in Modine Manufacturing by 10.4% in the 4th quarter. Inspire Investing LLC now owns 3,442 shares of the auto parts company’s stock valued at $399,000 after acquiring an additional 325 shares during the period. Finally, Bay Rivers Group increased its position in Modine Manufacturing by 6.3% in the 3rd quarter. Bay Rivers Group now owns 5,727 shares of the auto parts company’s stock valued at $760,000 after acquiring an additional 340 shares during the period. Institutional investors and hedge funds own 95.23% of the company’s stock.

Analyst Ratings Changes

Separately, Oppenheimer boosted their price target 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 Price Performance

Shares of MOD opened at $92.13 on Wednesday. Modine Manufacturing has a twelve month low of $75.23 and a twelve month high of $146.84. The stock’s 50 day moving average is $116.34 and its two-hundred day moving average is $120.15. The firm has a market capitalization of $4.84 billion, a PE ratio of 30.92, a P/E/G ratio of 0.75 and a beta of 2.31. The company has a current ratio of 1.87, a quick ratio of 1.09 and a debt-to-equity ratio of 0.38.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. Research analysts anticipate that Modine Manufacturing will post 3.85 earnings per share for the current 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.