Prudential Financial Inc. Has $5.07 Million Position in Modine Manufacturing Co. (NYSE:MOD)

Prudential Financial Inc. cut its stake in shares of Modine Manufacturing Co. (NYSE:MOD) by 10.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 354,090 shares of the auto parts company’s stock after selling 39,611 shares during the quarter. Prudential Financial Inc. owned 0.70% of Modine Manufacturing worth $5,067,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in MOD. BNP Paribas Arbitrage SA grew its holdings in shares of Modine Manufacturing by 271.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 11,429 shares of the auto parts company’s stock valued at $159,000 after purchasing an additional 8,348 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Modine Manufacturing by 188.3% during the 1st quarter. Bank of Montreal Can now owns 17,798 shares of the auto parts company’s stock valued at $247,000 after purchasing an additional 11,625 shares during the last quarter. Quantamental Technologies LLC bought a new stake in shares of Modine Manufacturing during the 1st quarter valued at approximately $29,000. Victory Capital Management Inc. grew its holdings in shares of Modine Manufacturing by 36.7% during the 1st quarter. Victory Capital Management Inc. now owns 142,424 shares of the auto parts company’s stock valued at $1,975,000 after purchasing an additional 38,224 shares during the last quarter. Finally, IndexIQ Advisors LLC bought a new stake in shares of Modine Manufacturing during the 1st quarter valued at approximately $740,000. 87.38% of the stock is currently owned by institutional investors.

MOD traded up $0.27 during trading on Friday, reaching $11.78. 7,028 shares of the company’s stock were exchanged, compared to its average volume of 284,179. Modine Manufacturing Co. has a one year low of $9.50 and a one year high of $16.67. The company has a current ratio of 1.17, a quick ratio of 0.78 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $564.81 million, a PE ratio of 7.50, a price-to-earnings-growth ratio of 0.79 and a beta of 2.03. The firm has a fifty day moving average price of $11.00 and a two-hundred day moving average price of $13.51.



Modine Manufacturing (NYSE:MOD) last posted its earnings results on Wednesday, July 31st. The auto parts company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.05). Modine Manufacturing had a return on equity of 14.19% and a net margin of 3.25%. The business had revenue of $529.00 million for the quarter, compared to the consensus estimate of $544.88 million. During the same period in the previous year, the firm earned $0.41 earnings per share. The company’s revenue was down 6.5% compared to the same quarter last year. Sell-side analysts expect that Modine Manufacturing Co. will post 1.4 earnings per share for the current year.

Several brokerages recently issued reports on MOD. Zacks Investment Research raised shares of Modine Manufacturing from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. TheStreet raised shares of Modine Manufacturing from a “c+” rating to a “b-” rating in a report on Monday, July 1st. Dougherty & Co initiated coverage on shares of Modine Manufacturing in a report on Wednesday, August 28th. They set a “buy” rating and a $13.00 target price on the stock. ValuEngine lowered shares of Modine Manufacturing from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Finally, DA Davidson initiated coverage on shares of Modine Manufacturing in a report on Friday, August 30th. They set a “neutral” rating and a $11.50 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $13.83.

About Modine Manufacturing

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 primarily in the United States. The company operates through Americas, Europe, Asia, Commercial and Industrial Solutions, and Building HVAC segments.

Further Reading: Quiet Period

Institutional Ownership by Quarter for Modine Manufacturing (NYSE:MOD)

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