Principal Financial Group Inc. Decreases Holdings in Modine Manufacturing (NYSE:MOD)

Principal Financial Group Inc. decreased its position in shares of Modine Manufacturing (NYSE:MOD) by 24.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 873,118 shares of the auto parts company’s stock after selling 279,617 shares during the period. Principal Financial Group Inc.’s holdings in Modine Manufacturing were worth $101,218,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. FMR LLC boosted its stake in shares of Modine Manufacturing by 14.0% during 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 in the last quarter. State Street Corp lifted its stake in 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 valued at $161,993,000 after buying an additional 18,108 shares in the last quarter. Geode Capital Management LLC lifted its stake in 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 valued at $155,522,000 after buying an additional 9,648 shares in the last quarter. Wasatch Advisors LP purchased a new stake in Modine Manufacturing in the 3rd quarter valued at approximately $91,193,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Modine Manufacturing by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 604,271 shares of the auto parts company’s stock valued at $80,241,000 after buying an additional 6,871 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

MOD stock opened at $92.13 on Wednesday. Modine Manufacturing has a 1 year low of $75.23 and a 1 year high of $146.84. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.09 and a current ratio of 1.87. The stock’s 50 day moving average price is $116.34 and its 200 day moving average price is $120.15. The firm has a market cap of $4.84 billion, a P/E ratio of 30.92, a PEG ratio of 0.75 and a beta of 2.31.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. On average, sell-side analysts expect that Modine Manufacturing will post 3.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Oppenheimer upped their target price on Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a research note 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.