Modine Manufacturing (NYSE:MOD) Stock Holdings Increased by Capital World Investors

Capital World Investors raised its holdings in shares of Modine Manufacturing (NYSE:MOD) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 591,174 shares of the auto parts company’s stock after buying an additional 44,796 shares during the period. Capital World Investors owned about 1.12% of Modine Manufacturing worth $68,535,000 as of its most recent SEC filing.

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

Insider Transactions at Modine Manufacturing

In other Modine Manufacturing news, Director William A. Wulfsohn purchased 2,530 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of $79.43 per share, for a total transaction of $200,957.90. Following the purchase, the director now directly owns 7,277 shares in the company, valued at $578,012.11. This trade represents a 53.30 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

Modine Manufacturing Price Performance

Shares of MOD opened at $69.49 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 0.71 and a beta of 2.19. The business’s 50-day moving average is $81.99 and its 200-day moving average is $109.33. Modine Manufacturing has a fifty-two week low of $64.79 and a fifty-two week high of $146.84.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (EPS) for the quarter, topping 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 research analysts expect that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

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

About Modine Manufacturing

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.