Zurcher Kantonalbank Zurich Cantonalbank Decreases Stock Position in Modine Manufacturing (NYSE:MOD)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of Modine Manufacturing (NYSE:MOD) by 10.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,523 shares of the auto parts company’s stock after selling 1,198 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Modine Manufacturing were worth $628,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its stake in Modine Manufacturing by 51.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,172 shares of the auto parts company’s stock worth $70,000 after purchasing an additional 400 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Modine Manufacturing by 49.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,206 shares of the auto parts company’s stock worth $101,000 after buying an additional 734 shares during the last quarter. Cookson Peirce & Co. Inc. acquired a new position in shares of Modine Manufacturing in the 4th quarter valued at about $203,000. Welch Group LLC acquired a new position in shares of Modine Manufacturing in the 4th quarter valued at about $209,000. Finally, Strs Ohio grew its position in shares of Modine Manufacturing by 28.6% during the 4th quarter. Strs Ohio now owns 3,600 shares of the auto parts company’s stock valued at $214,000 after buying an additional 800 shares during the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MOD has been the subject of a number of research reports. StockNews.com downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. B. Riley restated a “buy” rating and set a $98.00 price objective (up previously from $88.00) on shares of Modine Manufacturing in a research report on Tuesday, February 27th. DA Davidson restated a “buy” rating and set a $90.00 price objective on shares of Modine Manufacturing in a research note on Tuesday, February 27th. Finally, Oppenheimer initiated coverage on Modine Manufacturing in a research note on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Modine Manufacturing currently has an average rating of “Moderate Buy” and a consensus target price of $97.67.

Insider Buying and Selling

In other Modine Manufacturing news, CFO Michael B. Lucareli sold 82,312 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the sale, the chief financial officer now directly owns 194,587 shares in the company, valued at approximately $17,577,043.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Modine Manufacturing news, Director Christopher William Patterson sold 14,225 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $90.56, for a total transaction of $1,288,216.00. Following the completion of the transaction, the director now directly owns 97,517 shares of the company’s stock, valued at approximately $8,831,139.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michael B. Lucareli sold 82,312 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $90.33, for a total value of $7,435,242.96. Following the completion of the sale, the chief financial officer now directly owns 194,587 shares in the company, valued at approximately $17,577,043.71. The disclosure for this sale can be found here. Insiders sold 113,336 shares of company stock valued at $10,330,115 over the last 90 days. 2.86% of the stock is currently owned by company insiders.

Modine Manufacturing Stock Performance

Shares of NYSE MOD opened at $92.28 on Thursday. Modine Manufacturing has a 12-month low of $19.41 and a 12-month high of $106.01. The company has a market cap of $4.82 billion, a PE ratio of 21.76, a P/E/G ratio of 0.73 and a beta of 2.29. The stock has a 50 day simple moving average of $91.00 and a 200-day simple moving average of $68.84. The company has a current ratio of 1.93, a quick ratio of 1.21 and a debt-to-equity ratio of 0.43.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, January 30th. The auto parts company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.17. Modine Manufacturing had a return on equity of 25.28% and a net margin of 9.31%. The company had revenue of $561.40 million during the quarter, compared to analyst estimates of $594.84 million. During the same quarter in the previous year, the firm posted $0.48 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts forecast that Modine Manufacturing will post 3.27 EPS for the current year.

Modine Manufacturing 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.