First Trust Advisors LP reduced its position in shares of Modine Manufacturing Co. (NYSE:MOD) by 7.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,275 shares of the company’s stock after selling 1,816 shares during the period. First Trust Advisors LP’s holdings in Modine Manufacturing were worth $196,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. Smith Asset Management Group LP bought a new position in Modine Manufacturing during the second quarter worth approximately $157,000. Bank of Montreal Can bought a new position in Modine Manufacturing during the second quarter worth approximately $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 worth $281,000 after buying an additional 450 shares during the last quarter. 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 worth $361,000 after buying an additional 16,700 shares during the last quarter. Finally, Strs Ohio boosted its position in 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 last quarter. 83.52% of the stock is owned by hedge funds and other institutional investors.
Shares of Modine Manufacturing Co. (NYSE:MOD) traded down 1.4995% during mid-day trading on Tuesday, hitting $10.7858. 19,170 shares of the stock traded hands. Modine Manufacturing Co. has a one year low of $5.39 and a one year high of $12.21. The company has a market cap of $515.36 million, a P/E ratio of 276.5590 and a beta of 1.42. The stock has a 50 day moving average price of $11.47 and a 200-day moving average price of $10.45.
Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. The company earned $347.20 million during the quarter, compared to analysts’ expectations of $337.10 million. Modine Manufacturing had a return on equity of 10.46% and a net margin of 0.14%. The firm’s revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 EPS. On average, analysts forecast that Modine Manufacturing Co. will post $0.84 earnings per share for the current fiscal year.
Separately, Zacks Investment Research cut 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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