Modine Manufacturing Company (MOD) Position Reduced by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA trimmed its position in shares of Modine Manufacturing Company (NYSE:MOD) by 28.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,690 shares of the auto parts company’s stock after selling 2,666 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Modine Manufacturing were worth $129,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new stake in Modine Manufacturing during the 2nd quarter valued at about $518,000. Comerica Bank purchased a new stake in Modine Manufacturing during the 2nd quarter valued at about $1,619,000. Schwab Charles Investment Management Inc. grew its position in Modine Manufacturing by 15.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 254,612 shares of the auto parts company’s stock valued at $4,214,000 after purchasing an additional 33,237 shares during the last quarter. Swiss National Bank grew its position in Modine Manufacturing by 6.9% during the 2nd quarter. Swiss National Bank now owns 84,000 shares of the auto parts company’s stock valued at $1,390,000 after purchasing an additional 5,400 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Modine Manufacturing by 15.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,662,194 shares of the auto parts company’s stock valued at $27,509,000 after purchasing an additional 217,843 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.
In other Modine Manufacturing news, COO Thomas F. Marry sold 7,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $21.97, for a total transaction of $153,790.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Scott D. Wollenberg sold 6,414 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $23.55, for a total transaction of $151,049.70. The disclosure for this sale can be found here. Insiders have sold a total of 35,649 shares of company stock worth $780,953 in the last 90 days. Company insiders own 4.42% of the company’s stock.
Modine Manufacturing Company (NYSE:MOD) opened at $20.65 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.87 and a current ratio of 1.25. The stock has a market cap of $1,037.05, a PE ratio of 15.73 and a beta of 1.22. Modine Manufacturing Company has a one year low of $10.10 and a one year high of $23.95.
Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, October 31st. The auto parts company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.14. The business had revenue of $508.30 million for the quarter, compared to analysts’ expectations of $466.33 million. Modine Manufacturing had a net margin of 2.29% and a return on equity of 14.94%. The business’s revenue for the quarter was up 60.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) EPS. equities research analysts forecast that Modine Manufacturing Company will post 1.43 earnings per share for the current fiscal year.
Several research firms have issued reports on MOD. Zacks Investment Research cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. ValuEngine cut shares of Modine Manufacturing from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 4th. Finally, BidaskClub cut shares of Modine Manufacturing from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $24.00.
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About Modine Manufacturing
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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