Virginia Retirement Systems ET AL bought a new stake in shares of Modine Manufacturing Co. (NYSE:MOD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 26,000 shares of the auto parts company’s stock, valued at approximately $475,000. Virginia Retirement Systems ET AL owned about 0.05% of Modine Manufacturing at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alps Advisors Inc. raised its position in Modine Manufacturing by 10.6% during the 2nd quarter. Alps Advisors Inc. now owns 67,778 shares of the auto parts company’s stock worth $1,237,000 after buying an additional 6,470 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Modine Manufacturing by 744.6% in the 2nd quarter. First Trust Advisors LP now owns 206,320 shares of the auto parts company’s stock valued at $3,765,000 after purchasing an additional 181,892 shares in the last quarter. Comerica Bank increased its holdings in shares of Modine Manufacturing by 18.7% in the 2nd quarter. Comerica Bank now owns 182,748 shares of the auto parts company’s stock valued at $3,308,000 after purchasing an additional 28,778 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in shares of Modine Manufacturing by 10.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 983,862 shares of the auto parts company’s stock valued at $17,955,000 after purchasing an additional 93,270 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Modine Manufacturing in the 2nd quarter valued at about $1,241,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

In other news, Director Suresh V. Garimella sold 14,181 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $17.65, for a total transaction of $250,294.65. Following the completion of the sale, the director now owns 40,135 shares of the company’s stock, valued at $708,382.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.48% of the company’s stock.

Shares of MOD remained flat at $$15.30 during mid-day trading on Friday. 300,149 shares of the company traded hands, compared to its average volume of 194,060. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.23 and a quick ratio of 0.85. Modine Manufacturing Co. has a twelve month low of $15.15 and a twelve month high of $25.75. The firm has a market capitalization of $798.38 million, a PE ratio of 9.94 and a beta of 1.54.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Wednesday, August 1st. The auto parts company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.05. The firm had revenue of $566.10 million for the quarter, compared to analyst estimates of $552.12 million. Modine Manufacturing had a net margin of 1.26% and a return on equity of 17.01%. Modine Manufacturing’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 earnings per share. research analysts expect that Modine Manufacturing Co. will post 1.59 earnings per share for the current year.

A number of brokerages recently commented on MOD. ValuEngine cut shares of Modine Manufacturing from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Zacks Investment Research cut shares of Modine Manufacturing from a “hold” rating to a “sell” rating in a research note on Thursday, May 31st.

About Modine Manufacturing

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications primarily in the United States. The company operates through Americas, Europe, Asia, Commercial and Industrial Solutions, and Building HVAC segments.

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Institutional Ownership by Quarter for Modine Manufacturing (NYSE:MOD)

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