Allspring Global Investments Holdings LLC Trims Position in Modine Manufacturing (NYSE:MOD)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 13.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 156,128 shares of the auto parts company's stock after selling 24,131 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.30% of Modine Manufacturing worth $18,137,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FMR LLC grew its holdings in shares of Modine Manufacturing by 14.0% in the 3rd quarter. FMR LLC now owns 4,417,927 shares of the auto parts company's stock worth $586,657,000 after acquiring an additional 543,419 shares during the period. State Street Corp grew its holdings in shares of Modine Manufacturing by 1.5% in the 3rd quarter. State Street Corp now owns 1,219,916 shares of the auto parts company's stock worth $161,993,000 after acquiring an additional 18,108 shares during the period. Geode Capital Management LLC grew its holdings in shares of Modine Manufacturing by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,170,958 shares of the auto parts company's stock worth $155,522,000 after acquiring an additional 9,648 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Modine Manufacturing by 2.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company's stock worth $153,072,000 after acquiring an additional 26,527 shares during the period. Finally, Wasatch Advisors LP acquired a new stake in shares of Modine Manufacturing in the 3rd quarter worth approximately $91,193,000. Institutional investors and hedge funds own 95.23% of the company's stock.

Wall Street Analyst Weigh In

Separately, Oppenheimer upped their price target on Modine Manufacturing from $144.00 to $145.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st.

Modine Manufacturing Price Performance

NYSE:MOD traded up $5.00 during trading hours on Thursday, reaching $93.92. 2,256,521 shares of the company traded hands, compared to its average volume of 1,357,412. The firm's 50-day moving average is $114.73 and its 200-day moving average is $119.89. The stock has a market cap of $4.94 billion, a P/E ratio of 31.52, a P/E/G ratio of 0.70 and a beta of 2.31. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18. Modine Manufacturing has a 1-year low of $75.30 and a 1-year high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its earnings results on Tuesday, February 4th. The auto parts company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. Equities research analysts expect that Modine Manufacturing will post 3.89 earnings per share for the current fiscal year.

Modine Manufacturing Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.