LSV Asset Management Lowers Stock Position in Modine Manufacturing (NYSE:MOD)

LSV Asset Management reduced its stake in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 11.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,125,406 shares of the auto parts company's stock after selling 138,399 shares during the period. LSV Asset Management owned 2.16% of Modine Manufacturing worth $25,941,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in Modine Manufacturing by 3.7% in the 1st quarter. BlackRock Inc. now owns 4,066,537 shares of the auto parts company's stock worth $36,639,000 after purchasing an additional 144,771 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Modine Manufacturing by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,739,861 shares of the auto parts company's stock worth $74,275,000 after purchasing an additional 125,376 shares in the last quarter. Gamco Investors INC. ET AL lifted its holdings in Modine Manufacturing by 5.6% in the 1st quarter. Gamco Investors INC. ET AL now owns 3,250,247 shares of the auto parts company's stock worth $29,285,000 after purchasing an additional 171,848 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Modine Manufacturing by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 3,008,316 shares of the auto parts company's stock worth $27,105,000 after purchasing an additional 126,779 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Modine Manufacturing by 0.4% during the 1st quarter. State Street Corp now owns 1,264,193 shares of the auto parts company's stock worth $11,390,000 after acquiring an additional 5,366 shares in the last quarter. 90.11% of the stock is owned by hedge funds and other institutional investors.

MOD has been the topic of several recent research reports. B. Riley upped their price objective on Modine Manufacturing from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Tuesday. CJS Securities started coverage on Modine Manufacturing in a report on Tuesday, June 13th. They set an "outperform" rating on the stock. StockNews.com started coverage on Modine Manufacturing in a research report on Thursday, May 18th. They set a "strong-buy" rating on the stock. Finally, DA Davidson boosted their target price on Modine Manufacturing from $38.00 to $43.00 in a research report on Friday, June 23rd. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $40.00.

Modine Manufacturing stock opened at $35.39 on Friday. The stock has a 50-day moving average of $31.69 and a two-hundred day moving average of $25.65. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.67. The stock has a market cap of $1.85 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 0.61 and a beta of 2.26. Modine Manufacturing has a one year low of $12.46 and a one year high of $38.08.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its earnings results on Thursday, May 25th. The auto parts company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.48 by $0.19. Modine Manufacturing had a return on equity of 20.75% and a net margin of 6.66%. The firm had revenue of $618.10 million for the quarter, compared to analyst estimates of $583.70 million. During the same period last year, the company earned $0.57 earnings per share. Modine Manufacturing's revenue for the quarter was up 7.6% compared to the same quarter last year. On average, research analysts anticipate that Modine Manufacturing will post 2.35 EPS for the current fiscal year.

In other news, CFO Michael B. Lucareli sold 15,255 shares of Modine Manufacturing stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $30.13, for a total value of $459,633.15. Following the completion of the sale, the chief financial officer now directly owns 299,604 shares of the company's stock, valued at $9,027,068.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Michael B. Lucareli sold 15,255 shares of the business's stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $30.13, for a total value of $459,633.15. Following the completion of the sale, the chief financial officer now directly owns 299,604 shares of the company's stock, valued at approximately $9,027,068.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Larry Oscar Moore sold 17,742 shares of the business's stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $31.58, for a total value of $560,292.36. Following the completion of the sale, the director now directly owns 57,773 shares of the company's stock, valued at $1,824,471.34. The disclosure for this sale can be found here. 2.86% of the stock is currently owned by company insiders.

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.

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