Arizona State Retirement System Has $1.39 Million Stock Holdings in Modine Manufacturing (NYSE:MOD)

Arizona State Retirement System increased its holdings in shares of Modine Manufacturing (NYSE:MOD) by 1.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 13,886 shares of the auto parts company’s stock after acquiring an additional 246 shares during the quarter. Arizona State Retirement System’s holdings in Modine Manufacturing were worth $1,391,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Strid Group LLC acquired a new position in shares of Modine Manufacturing during the 1st quarter worth about $33,000. Acadian Asset Management LLC acquired a new position in shares of Modine Manufacturing during the 1st quarter worth about $37,000. Principal Securities Inc. acquired a new position in shares of Modine Manufacturing during the 4th quarter worth about $29,000. Opal Wealth Advisors LLC acquired a new position in shares of Modine Manufacturing during the 2nd quarter worth about $51,000. Finally, West Oak Capital LLC lifted its position in shares of Modine Manufacturing by 300.0% during the 2nd quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock worth $60,000 after purchasing an additional 450 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Wall Street Analyst Weigh In

MOD has been the subject of several recent research reports. William Blair initiated coverage on Modine Manufacturing in a report on Monday, July 29th. They issued an “outperform” rating for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $135.00 price target on shares of Modine Manufacturing in a report on Thursday. B. Riley upped their price target on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, DA Davidson upped their price target on Modine Manufacturing from $120.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $138.33.

Insider Activity

In other news, Director Marsha C. Williams sold 34,400 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $109.74, for a total value of $3,775,056.00. Following the sale, the director now directly owns 144,038 shares in the company, valued at approximately $15,806,730.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.40% of the company’s stock.

Modine Manufacturing Trading Up 2.5 %

MOD stock opened at $110.83 on Friday. Modine Manufacturing has a 1-year low of $38.50 and a 1-year high of $123.92. The firm has a market cap of $5.81 billion, a P/E ratio of 36.58, a P/E/G ratio of 0.74 and a beta of 2.23. The business’s 50 day moving average is $107.56 and its 200-day moving average is $99.51. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.18. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. The company had revenue of $661.50 million for the quarter, compared to analyst estimates of $633.55 million. During the same period in the prior year, the company posted $0.85 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. Equities analysts anticipate that Modine Manufacturing will post 3.85 earnings per share for the current fiscal year.

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.