Ameriprise Financial Inc. raised its position in Modine Manufacturing Co. (NYSE:MOD) by 9.0% during the second quarter, Holdings Channel reports. The firm owned 607,670 shares of the company’s stock after buying an additional 50,010 shares during the period. Ameriprise Financial Inc. owned approximately 1.27% of Modine Manufacturing worth $5,346,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Nordea Investment Management AB acquired a new stake in shares of Modine Manufacturing during the second quarter worth $776,000. ClariVest Asset Management LLC boosted its stake in shares of Modine Manufacturing by 85.2% in the second quarter. ClariVest Asset Management LLC now owns 283,347 shares of the company’s stock worth $2,494,000 after buying an additional 130,362 shares during the period. Strs Ohio boosted its stake in shares of Modine Manufacturing by 5.7% in the second quarter. Strs Ohio now owns 71,200 shares of the company’s stock worth $626,000 after buying an additional 3,836 shares during the period. Smith Asset Management Group LP acquired a new stake in shares of Modine Manufacturing during the second quarter worth $157,000. Finally, Bank of Montreal Can acquired a new stake in shares of Modine Manufacturing during the second quarter worth $214,000. 83.52% of the stock is currently owned by institutional investors.
Modine Manufacturing Co. (NYSE:MOD) traded up 2.28% during trading on Friday, hitting $11.20. 6,385 shares of the stock traded hands. The company has a 50-day moving average price of $11.46 and a 200 day moving average price of $10.45. The stock has a market cap of $535.15 million, a PE ratio of 287.18 and a beta of 1.42. 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 (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.03. The business had revenue of $347.20 million for the quarter, compared to the consensus estimate of $337.10 million. Modine Manufacturing had a net margin of 0.14% and a return on equity of 10.46%. Modine Manufacturing’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the company posted $0.14 earnings per share. Analysts expect that Modine Manufacturing Co. will post $0.84 earnings per share for the current year.
Separately, Zacks Investment Research lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th.
Modine Manufacturing Company Profile
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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