Modine Manufacturing Company $MOD Holdings Lifted by California State Teachers Retirement System

California State Teachers Retirement System increased its position in shares of Modine Manufacturing Company (NYSE:MOD) by 26,352.0% during the second quarter, Holdings Channel.com reports. The fund owned 15,536,826 shares of the auto parts company’s stock after acquiring an additional 15,478,090 shares during the quarter. California State Teachers Retirement System owned 0.29% of Modine Manufacturing worth $4,148,643,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Ameritas Advisory Services LLC bought a new position in shares of Modine Manufacturing during the 2nd quarter valued at about $2,621,000. HB Wealth Management LLC grew its stake in shares of Modine Manufacturing by 89.9% in the 2nd quarter. HB Wealth Management LLC now owns 2,224 shares of the auto parts company’s stock worth $594,000 after purchasing an additional 1,053 shares during the last quarter. AlphaGrep UK Ltd bought a new stake in shares of Modine Manufacturing in the 2nd quarter worth approximately $243,000. Raiffeisen Bank International AG bought a new stake in shares of Modine Manufacturing in the 2nd quarter worth approximately $1,025,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in Modine Manufacturing during the second quarter valued at approximately $55,000. 95.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Modine Manufacturing

In other news, insider Eric S. Mcginnis sold 1,020 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total value of $300,961.20. Following the completion of the sale, the insider owned 28,364 shares of the company’s stock, valued at $8,369,081.84. This trade represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Eric D. Ashleman sold 15,000 shares of Modine Manufacturing stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total value of $4,328,100.00. Following the transaction, the director owned 42,350 shares in the company, valued at $12,219,669. This represents a 26.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 54,302 shares of company stock valued at $15,928,759 in the last three months. 1.92% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MOD has been the subject of a number of research reports. UBS Group raised their target price on shares of Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. KeyCorp reiterated an “overweight” rating and set a $280.00 price objective on shares of Modine Manufacturing in a research report on Wednesday, September 2nd. Glj Research restated a “buy” rating and issued a $428.00 target price on shares of Modine Manufacturing in a report on Monday, June 1st. Oppenheimer upped their target price on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. Finally, B. Riley Financial reiterated a “buy” rating and issued a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a research report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $320.14.

Modine Manufacturing Stock Down 3.0%

MOD stock opened at $186.59 on Thursday. Modine Manufacturing Company has a 52-week low of $111.18 and a 52-week high of $323.25. The company’s 50 day simple moving average is $208.82 and its 200-day simple moving average is $233.79. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22. The firm has a market capitalization of $9.91 billion, a P/E ratio of 70.15, a P/E/G ratio of 0.63 and a beta of 1.74.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Wednesday, July 29th. The auto parts company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The firm had revenue of $874.10 million during the quarter, compared to analyst estimates of $878.69 million. During the same quarter last year, the business posted $0.95 EPS. The company’s revenue was up 28.0% on a year-over-year basis. As a group, equities research analysts anticipate that Modine Manufacturing Company will post 7.65 EPS for the current year.

About Modine Manufacturing

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.