Nordea Investment Management AB increased its stake in shares of Modine Manufacturing Co. (NYSE:MOD) by 3.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,100 shares of the company’s stock after buying an additional 2,900 shares during the period. Nordea Investment Management AB owned 0.19% of Modine Manufacturing worth $1,080,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Wells Fargo & Company MN increased its position in shares of Modine Manufacturing by 0.9% in the third quarter. Wells Fargo & Company MN now owns 18,487 shares of the company’s stock valued at $219,000 after buying an additional 173 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in Modine Manufacturing during the second quarter valued at $410,000. Stifel Financial Corp boosted its stake in Modine Manufacturing by 5.8% in the second quarter. Stifel Financial Corp now owns 347,343 shares of the company’s stock valued at $3,056,000 after buying an additional 19,144 shares in the last quarter. Legal & General Group Plc boosted its stake in Modine Manufacturing by 34.7% in the second quarter. Legal & General Group Plc now owns 11,650 shares of the company’s stock valued at $102,000 after buying an additional 3,000 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Modine Manufacturing during the second quarter valued at $114,000. Institutional investors own 82.83% of the company’s stock.
Modine Manufacturing Co. (NYSE:MOD) traded down 2.38% during midday trading on Friday, hitting $12.30. The stock had a trading volume of 69,366 shares. Modine Manufacturing Co. has a 1-year low of $5.39 and a 1-year high of $12.75. The firm has a market capitalization of $587.67 million, a price-to-earnings ratio of 28.67 and a beta of 1.41. The firm has a 50-day moving average price of $11.14 and a 200-day moving average price of $10.55.
Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, November 1st. The company reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.13. The firm earned $317.70 million during the quarter, compared to the consensus estimate of $329.92 million. Modine Manufacturing had a net margin of 1.52% and a return on equity of 9.77%. The company’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 EPS. On average, equities research analysts anticipate that Modine Manufacturing Co. will post $0.81 earnings per share for the current year.
Separately, Zacks Investment Research cut Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th.
Modine Manufacturing Company 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.