Russell Investments Group Ltd. Has $13.22 Million Stake in Modine Manufacturing (NYSE:MOD)

Russell Investments Group Ltd. lowered its holdings in shares of Modine Manufacturing (NYSE:MOD) by 28.5% during the fourth quarter, according to its most recent Form 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 SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its stake in shares of Modine Manufacturing by 51.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,172 shares of the auto parts company’s stock valued at $70,000 after purchasing an additional 400 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Modine Manufacturing by 49.9% during the third quarter. PNC Financial Services Group Inc. now owns 2,206 shares of the auto parts company’s stock worth $101,000 after buying an additional 734 shares during the last quarter. Cookson Peirce & Co. Inc. bought a new position in shares of Modine Manufacturing in the fourth quarter valued at approximately $203,000. Welch Group LLC acquired a new position in shares of Modine Manufacturing in the 4th quarter worth approximately $209,000. Finally, Strs Ohio grew its position in 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 during the last quarter. Institutional investors own 95.23% of the company’s stock.

Insider Activity

In related news, 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 transaction of $7,435,242.96. Following the completion of the sale, the chief financial officer now directly owns 194,587 shares of the company’s stock, valued at $17,577,043.71. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Modine Manufacturing news, VP Brian Jon Agen sold 16,799 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $95.64, for a total value of $1,606,656.36. Following the completion of the sale, the vice president now owns 102,409 shares of the company’s stock, valued at $9,794,396.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $7,435,242.96. Following the transaction, the chief financial officer now directly owns 194,587 shares in the company, valued at $17,577,043.71. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,336 shares of company stock valued at $10,330,115. 2.86% of the stock is currently owned by insiders.

Modine Manufacturing Price Performance

Modine Manufacturing stock opened at $94.11 on Friday. The business’s 50-day simple moving average is $91.52 and its 200 day simple moving average is $69.49. 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 $4.91 billion, a price-to-earnings ratio of 22.20, a P/E/G ratio of 0.72 and a beta of 2.28. Modine Manufacturing has a 12-month low of $19.41 and a 12-month high of $106.01.

Analysts Set New Price Targets

A number of equities analysts have commented on MOD shares. DA Davidson reissued a “buy” rating and issued a $90.00 price objective 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 report on Wednesday, January 31st. Oppenheimer started coverage on shares of Modine Manufacturing in a research note on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 target price for the company. Finally, B. Riley reissued a “buy” rating and set a $98.00 price target (up from $88.00) on shares of Modine Manufacturing in a research note on Tuesday, February 27th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.67.

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.