Modine Manufacturing Co. (MOD) Position Reduced by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in Modine Manufacturing Co. (NYSE:MOD) by 16.4% in the second quarter, HoldingsChannel reports. The firm owned 119,380 shares of the auto parts company’s stock after selling 23,468 shares during the period. California Public Employees Retirement System’s holdings in Modine Manufacturing were worth $2,179,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Granahan Investment Management Inc. MA increased its holdings in shares of Modine Manufacturing by 9.2% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 336,112 shares of the auto parts company’s stock valued at $6,134,000 after purchasing an additional 28,312 shares in the last quarter. Zacks Investment Management purchased a new position in shares of Modine Manufacturing during the 2nd quarter valued at approximately $1,387,000. Paloma Partners Management Co purchased a new position in shares of Modine Manufacturing during the 2nd quarter valued at approximately $184,000. Capital Fund Management S.A. increased its holdings in shares of Modine Manufacturing by 196.2% during the 2nd quarter. Capital Fund Management S.A. now owns 31,100 shares of the auto parts company’s stock valued at $568,000 after purchasing an additional 20,600 shares in the last quarter. Finally, Laurion Capital Management LP purchased a new position in shares of Modine Manufacturing during the 2nd quarter valued at approximately $1,153,000. Institutional investors own 87.36% of the company’s stock.

In related news, Director Suresh V. Garimella sold 14,181 shares of Modine Manufacturing stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $17.65, for a total value of $250,294.65. Following the sale, the director now owns 40,135 shares of the company’s stock, valued at approximately $708,382.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.48% of the stock is currently owned by company insiders.

Several equities analysts have recently weighed in on MOD shares. ValuEngine lowered shares of Modine Manufacturing from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Zacks Investment Research raised shares of Modine Manufacturing from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th.

Modine Manufacturing stock opened at $11.70 on Tuesday. Modine Manufacturing Co. has a 1 year low of $11.56 and a 1 year high of $25.75. The firm has a market capitalization of $608.29 million, a P/E ratio of 7.60 and a beta of 1.52. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.85 and a current ratio of 1.23.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Wednesday, August 1st. The auto parts company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. Modine Manufacturing had a net margin of 1.26% and a return on equity of 17.01%. The firm had revenue of $566.10 million for the quarter, compared to analysts’ expectations of $552.12 million. During the same quarter last year, the company earned $0.39 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, analysts forecast that Modine Manufacturing Co. will post 1.52 EPS for the current year.

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.

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

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