Modine Manufacturing (NYSE:MOD) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 24.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 873,118 shares of the auto parts company's stock after selling 279,617 shares during the quarter. Principal Financial Group Inc. owned 1.66% of Modine Manufacturing worth $101,218,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Principal Securities Inc. grew its stake in Modine Manufacturing by 97.8% during the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company's stock worth $63,000 after purchasing an additional 269 shares in the last quarter. Rhumbline Advisers grew its position in shares of Modine Manufacturing by 2.0% during the fourth quarter. Rhumbline Advisers now owns 79,664 shares of the auto parts company's stock worth $9,235,000 after buying an additional 1,539 shares in the last quarter. Legato Capital Management LLC increased its stake in shares of Modine Manufacturing by 18.6% during the fourth quarter. Legato Capital Management LLC now owns 27,811 shares of the auto parts company's stock worth $3,224,000 after buying an additional 4,363 shares during the period. Kestra Private Wealth Services LLC raised its holdings in Modine Manufacturing by 9.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 5,226 shares of the auto parts company's stock valued at $606,000 after acquiring an additional 444 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in Modine Manufacturing during the 4th quarter worth approximately $452,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Modine Manufacturing Stock Up 5.6 %

Shares of NYSE MOD traded up $5.00 during midday trading on Thursday, hitting $93.92. 2,256,568 shares of the company's stock were exchanged, compared to its average volume of 1,357,417. The firm's fifty day simple moving average is $114.73 and its 200-day simple moving average is $119.89. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18. The company has a market cap of $4.94 billion, a PE ratio of 31.52, a P/E/G ratio of 0.70 and a beta of 2.31. Modine Manufacturing has a twelve month low of $75.30 and a twelve month high of $146.84.

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

Analyst Ratings Changes

Separately, Oppenheimer raised their price objective on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an "outperform" rating in a report on Thursday, October 31st.

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.