Principal Financial Group Inc. Has $153.07 Million Holdings in Modine Manufacturing (NYSE:MOD)

Principal Financial Group Inc. raised its stake in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,152,735 shares of the auto parts company's stock after acquiring an additional 26,527 shares during the quarter. Principal Financial Group Inc. owned approximately 2.20% of Modine Manufacturing worth $153,072,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Acadian Asset Management LLC bought a new position in shares of Modine Manufacturing during the first quarter worth about $37,000. Opal Wealth Advisors LLC bought a new stake in shares of Modine Manufacturing during the second quarter valued at approximately $51,000. West Oak Capital LLC boosted its position in shares of Modine Manufacturing by 300.0% during the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company's stock worth $60,000 after buying an additional 450 shares during the period. Fifth Third Bancorp acquired a new stake in Modine Manufacturing in the 2nd quarter valued at approximately $64,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Modine Manufacturing during the 2nd quarter valued at $68,000. Institutional investors own 95.23% of the company's stock.

Modine Manufacturing Stock Performance

NYSE MOD traded up $1.03 during midday trading on Friday, hitting $128.40. The company had a trading volume of 484,831 shares, compared to its average volume of 857,772. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 0.41. The firm has a fifty day simple moving average of $122.85 and a two-hundred day simple moving average of $109.33. Modine Manufacturing has a fifty-two week low of $42.65 and a fifty-two week high of $141.72. The stock has a market cap of $6.74 billion, a price-to-earnings ratio of 41.76, a P/E/G ratio of 0.84 and a beta of 2.25.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.05. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The company had revenue of $658.00 million for the quarter, compared to analyst estimates of $646.86 million. During the same quarter last year, the firm earned $0.89 EPS. Modine Manufacturing's revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts forecast that Modine Manufacturing will post 3.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MOD. B. Riley lifted their price objective on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. William Blair assumed coverage on shares of Modine Manufacturing in a research report on Monday, July 29th. They set an "outperform" rating on the stock. Oppenheimer boosted their target price on Modine Manufacturing from $144.00 to $145.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Finally, DA Davidson raised their target price on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a "buy" rating in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $146.67.

Insider Buying and Selling

In other news, Director Marsha C. Williams sold 34,400 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $109.74, for a total value of $3,775,056.00. Following the transaction, the director now directly owns 144,038 shares of the company's stock, valued at $15,806,730.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is owned by corporate insiders.

About Modine Manufacturing

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.