The California State Teachers' Retirement System (CalSTRS) has dramatically increased its holdings in Modine Manufacturing Co., acquiring an additional 15.48 million shares. This purchase, disclosed in a recent SEC filing, represents a 26,352% increase in the pension fund's stake.
CalSTRS now owns approximately 29.25% of Modine Manufacturing, a position valued at around $4.15 billion. This substantial investment places a major institutional player as a leading shareholder. This news follows recent reports on the company's strong performance, with fiscal first-quarter earnings per share beating analyst estimates.