State Board of Administration of Florida Retirement System continued to hold its position in Modine Manufacturing Co. (NYSE:MOD) during the second quarter, Holdings Channel reports. The institutional investor owned 43,971 shares of the company’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System owned about 0.09% of Modine Manufacturing worth $387,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Smith Asset Management Group LP acquired a new position in Modine Manufacturing during the second quarter valued at about $157,000. Mesirow Financial Investment Management US Value Equity acquired a new position in Modine Manufacturing during the first quarter valued at about $183,000. Bank of Montreal Can acquired a new position in Modine Manufacturing during the second quarter valued at about $214,000. Los Angeles Capital Management & Equity Research Inc. boosted its position in Modine Manufacturing by 1.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 25,490 shares of the company’s stock valued at $281,000 after buying an additional 450 shares during the last quarter. Finally, Spark Investment Management LLC boosted its position in Modine Manufacturing by 103.7% in the first quarter. Spark Investment Management LLC now owns 32,800 shares of the company’s stock valued at $361,000 after buying an additional 16,700 shares during the last quarter. 83.52% of the stock is owned by institutional investors.
Shares of Modine Manufacturing Co. (NYSE:MOD) traded down 0.43% on Tuesday, reaching $11.70. The company had a trading volume of 8,037 shares. The firm has a market cap of $559.04 million, a P/E ratio of 300.00 and a beta of 1.42. The company has a 50-day moving average price of $11.36 and a 200-day moving average price of $10.43. Modine Manufacturing Co. has a one year low of $5.39 and a one year high of $12.21.
Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. Modine Manufacturing had a return on equity of 10.46% and a net margin of 0.14%. The company had revenue of $347.20 million for the quarter, compared to analyst estimates of $337.10 million. During the same quarter last year, the firm earned $0.14 EPS. Modine Manufacturing’s revenue for the quarter was up .3% compared to the same quarter last year. On average, analysts expect that Modine Manufacturing Co. will post $0.84 earnings per share for the current fiscal year.
Separately, Zacks Investment Research cut Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, October 5th.
About Modine Manufacturing
Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on-highway and off-highway original equipment manufacturer (OEM) vehicular applications, and for sale into an array of building, industrial and refrigeration markets. The Company’s products include radiators and radiator cores, exhaust gas recirculation coolers, building heating, ventilating and air conditioning (HVAC) equipment, and coils.
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