Nationwide Fund Advisors Trims Position in Modine Manufacturing Co. (NYSE:MOD)

Nationwide Fund Advisors trimmed its stake in Modine Manufacturing Co. (NYSE:MOD) by 13.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 116,224 shares of the auto parts company’s stock after selling 17,800 shares during the period. Nationwide Fund Advisors owned 0.23% of Modine Manufacturing worth $2,237,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bank of America Corp DE increased its stake in shares of Modine Manufacturing by 11.5% in the 1st quarter. Bank of America Corp DE now owns 9,799 shares of the auto parts company’s stock worth $120,000 after acquiring an additional 1,008 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Modine Manufacturing by 118.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,356 shares of the auto parts company’s stock valued at $155,000 after purchasing an additional 5,067 shares in the last quarter. UBS Asset Management Americas Inc. bought a new stake in Modine Manufacturing during the 2nd quarter valued at about $215,000. Aperio Group LLC increased its stake in Modine Manufacturing by 0.6% during the 2nd quarter. Aperio Group LLC now owns 13,495 shares of the auto parts company’s stock valued at $223,000 after purchasing an additional 78 shares in the last quarter. Finally, BB&T Securities LLC increased its stake in Modine Manufacturing by 4.2% during the 2nd quarter. BB&T Securities LLC now owns 13,600 shares of the auto parts company’s stock valued at $225,000 after purchasing an additional 550 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

In other news, COO Thomas F. Marry sold 7,000 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $21.97, for a total value of $153,790.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Scott D. Wollenberg sold 6,414 shares of the business’s stock in a transaction 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 45,241 shares of company stock worth $982,316 in the last ninety days. Insiders own 4.42% of the company’s stock.

Modine Manufacturing Co. (NYSE:MOD) traded up $0.05 on Friday, hitting $21.80. 214,221 shares of the company were exchanged, compared to its average volume of 293,384. 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 capitalization of $1,100.00, a P/E ratio of 25.65 and a beta of 1.23. Modine Manufacturing Co. has a one year low of $10.10 and a one year high of $23.95.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, October 31st. The auto parts company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.14. Modine Manufacturing had a net margin of 2.29% and a return on equity of 14.94%. The company had revenue of $508.30 million for the quarter, compared to the consensus estimate of $466.33 million. During the same quarter last year, the firm posted ($0.01) earnings per share. The firm’s revenue was up 60.0% compared to the same quarter last year. research analysts predict that Modine Manufacturing Co. will post 1.43 EPS for the current fiscal year.

A number of analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Wednesday. ValuEngine lowered shares of Modine Manufacturing from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 4th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company. Modine Manufacturing has a consensus rating of “Buy” and an average target price of $24.00.

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Modine Manufacturing Profile

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.

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

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