Axa cut its stake in shares of Modine Manufacturing Co. (NYSE:MOD) by 27.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,200 shares of the auto parts company’s stock after selling 7,900 shares during the period. Axa’s holdings in Modine Manufacturing were worth $428,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Great West Life Assurance Co. Can boosted its position in Modine Manufacturing by 142.7% during the third quarter. Great West Life Assurance Co. Can now owns 5,781 shares of the auto parts company’s stock valued at $111,000 after purchasing an additional 3,399 shares during the last quarter. SG Americas Securities LLC acquired a new position in Modine Manufacturing during the third quarter valued at approximately $152,000. Trexquant Investment LP acquired a new position in Modine Manufacturing during the third quarter valued at approximately $222,000. Investors Research Corp acquired a new position in Modine Manufacturing during the fourth quarter valued at approximately $345,000. Finally, Teacher Retirement System of Texas acquired a new position in Modine Manufacturing during the fourth quarter valued at approximately $361,000. 84.66% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently issued reports on MOD. Zacks Investment Research raised Modine Manufacturing from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Saturday, February 3rd. ValuEngine cut Modine Manufacturing from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 4th.
Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, January 30th. The auto parts company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.06. Modine Manufacturing had a return on equity of 16.54% and a net margin of 0.62%. The company had revenue of $512.70 million during the quarter, compared to analysts’ expectations of $456.30 million. During the same period last year, the firm posted $0.21 earnings per share. The business’s revenue was up 46.6% on a year-over-year basis. sell-side analysts anticipate that Modine Manufacturing Co. will post 1.5 EPS for the current year.
In other news, VP Scott L. Bowser sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $24.36, for a total value of $85,260.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Scott D. Wollenberg sold 10,035 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $22.76, for a total value of $228,396.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,914 shares of company stock valued at $373,251. Insiders own 4.42% of the company’s stock.
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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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