Modine Manufacturing (NYSE:MOD) Shares Sold by EAM Global Investors LLC

EAM Global Investors LLC lowered its holdings in shares of Modine Manufacturing (NYSE:MOD) by 17.3% during the 4th quarter, Holdings Channel reports. The fund owned 28,034 shares of the auto parts company’s stock after selling 5,869 shares during the period. EAM Global Investors LLC’s holdings in Modine Manufacturing were worth $3,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ increased its stake in Modine Manufacturing by 567.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company’s stock valued at $27,000 after buying an additional 193 shares during the period. Principal Securities Inc. lifted its holdings in shares of Modine Manufacturing by 97.8% in the fourth quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock valued at $63,000 after buying an additional 269 shares during the period. Nisa Investment Advisors LLC boosted its stake in 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 valued at $157,000 after buying an additional 82 shares in the last quarter. Rothschild Investment LLC grew its holdings in Modine Manufacturing by 34.4% during the fourth quarter. Rothschild Investment LLC now owns 1,720 shares of the auto parts company’s stock worth $199,000 after acquiring an additional 440 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in Modine Manufacturing by 8.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company’s stock worth $208,000 after acquiring an additional 136 shares during the period. Institutional investors and hedge funds own 95.23% of the company’s stock.

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 report on Monday, March 17th.

Insiders Place Their Bets

In other news, Director William A. Wulfsohn purchased 2,530 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $79.43 per share, for a total transaction of $200,957.90. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.40% of the company’s stock.

Modine Manufacturing Price Performance

Shares of NYSE:MOD opened at $76.81 on Wednesday. The company has a market capitalization of $4.04 billion, a PE ratio of 25.78, a price-to-earnings-growth ratio of 0.71 and a beta of 2.19. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.87. The stock has a fifty day moving average of $83.90 and a 200-day moving average of $111.08. Modine Manufacturing has a one year low of $64.79 and a one year high of $146.84.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, February 4th. The auto parts company reported $0.92 EPS 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%. As a group, equities analysts anticipate that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing announced that its Board of Directors has initiated a stock repurchase plan on Friday, March 7th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the auto parts company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.