Shell Asset Management Co. acquired a new stake in Modine Manufacturing Co. (NYSE:MOD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 72,177 shares of the company’s stock, valued at approximately $635,000.
Other large investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC raised its stake in Modine Manufacturing by 564.4% in the second quarter. Acadian Asset Management LLC now owns 113,188 shares of the company’s stock valued at $996,000 after buying an additional 96,153 shares during the last quarter. Nordea Investment Management AB acquired a new stake in Modine Manufacturing during the second quarter valued at about $776,000. DNB Asset Management AS raised its stake in Modine Manufacturing by 4.5% in the second quarter. DNB Asset Management AS now owns 1,317,269 shares of the company’s stock valued at $11,592,000 after buying an additional 56,620 shares during the last quarter. Renaissance Technologies LLC raised its stake in Modine Manufacturing by 30.4% in the first quarter. Renaissance Technologies LLC now owns 214,100 shares of the company’s stock valued at $2,357,000 after buying an additional 49,900 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Modine Manufacturing by 7.6% in the first quarter. Goldman Sachs Group Inc. now owns 171,795 shares of the company’s stock valued at $1,891,000 after buying an additional 12,158 shares during the last quarter. 83.52% of the stock is owned by institutional investors.
Modine Manufacturing Co. (NYSE:MOD) traded down 1.42% during midday trading on Friday, hitting $11.77. 78,002 shares of the stock traded hands. The company has a 50-day moving average price of $11.32 and a 200-day moving average price of $10.42. Modine Manufacturing Co. has a 1-year low of $5.39 and a 1-year high of $12.21. The firm has a market cap of $562.38 million, a P/E ratio of 301.79 and a beta of 1.42.
Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, August 2nd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.03. The business had revenue of $347.20 million for the quarter, compared to the consensus estimate of $337.10 million. Modine Manufacturing had a net margin of 0.14% and a return on equity of 10.46%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the firm posted $0.14 earnings per share. Analysts predict that Modine Manufacturing Co. will post $0.84 EPS for the current year.
Separately, Zacks Investment Research lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Wednesday.
About Modine Manufacturing
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.
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