Neumeier Poma Investment Counsel LLC Purchases 1,501 Shares of Modine Manufacturing (NYSE:MOD)

Neumeier Poma Investment Counsel LLC raised its position in Modine Manufacturing (NYSE:MOD) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 179,431 shares of the auto parts company’s stock after purchasing an additional 1,501 shares during the period. Modine Manufacturing accounts for 2.0% of Neumeier Poma Investment Counsel LLC’s investment portfolio, making the stock its 23rd biggest position. Neumeier Poma Investment Counsel LLC’s holdings in Modine Manufacturing were worth $20,801,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ raised its position in shares of Modine Manufacturing by 567.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company’s stock worth $27,000 after buying an additional 193 shares in the last quarter. Principal Securities Inc. raised its holdings in shares of Modine Manufacturing by 97.8% in the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock valued at $63,000 after acquiring an additional 269 shares in the last quarter. Private Trust Co. NA boosted its position in shares of Modine Manufacturing by 650.5% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock valued at $103,000 after acquiring an additional 670 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Modine Manufacturing by 6.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock worth $157,000 after purchasing an additional 82 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Modine Manufacturing in the third quarter worth approximately $196,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Trading Down 7.0 %

Shares of MOD stock opened at $86.68 on Thursday. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. The firm has a market cap of $4.56 billion, a P/E ratio of 29.09, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48. The business has a 50-day moving average price of $96.12 and a two-hundred day moving average price of $115.67. Modine Manufacturing has a 12-month low of $72.49 and a 12-month high of $146.84.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 EPS for the quarter, beating 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%. Equities analysts anticipate that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing announced that its board has authorized a share repurchase plan on Friday, March 7th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the auto parts company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, Director William A. Wulfsohn bought 2,530 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average cost of $79.43 per share, for a total transaction of $200,957.90. Following the acquisition, the director now directly owns 7,277 shares of the company’s stock, valued at $578,012.11. The trade was a 53.30 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, DA Davidson reissued a “buy” rating and issued a $155.00 price target on shares of Modine Manufacturing in a research note on Monday, March 17th.

Modine Manufacturing Company 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.