Algert Global LLC Buys 8,847 Shares of Modine Manufacturing (NYSE:MOD)

Algert Global LLC grew its stake in Modine Manufacturing (NYSE:MOD) by 79.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,957 shares of the auto parts company’s stock after purchasing an additional 8,847 shares during the period. Algert Global LLC’s holdings in Modine Manufacturing were worth $2,314,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Wasatch Advisors LP lifted its holdings in shares of Modine Manufacturing by 108.0% during the 4th quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company’s stock worth $165,596,000 after acquiring an additional 741,667 shares during the period. Norges Bank acquired a new stake in Modine Manufacturing during the fourth quarter valued at approximately $31,590,000. T. Rowe Price Investment Management Inc. boosted its holdings in Modine Manufacturing by 27.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,207,181 shares of the auto parts company’s stock valued at $139,949,000 after purchasing an additional 262,936 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Modine Manufacturing by 433.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 215,230 shares of the auto parts company’s stock valued at $24,953,000 after purchasing an additional 174,862 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Modine Manufacturing in the 4th quarter worth approximately $19,719,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson reissued a “buy” rating and set a $155.00 price objective on shares of Modine Manufacturing in a report on Monday, March 17th.

Modine Manufacturing Trading Up 2.2 %

MOD stock opened at $93.33 on Friday. 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 stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 31.32, a P/E/G ratio of 0.71 and a beta of 2.08. The business has a fifty day moving average price of $81.21 and a 200 day moving average price of $105.31. 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 issued its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.13. Modine Manufacturing had a net margin of 6.31% and a return on equity of 24.25%. Analysts expect that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

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

Insider Transactions at Modine Manufacturing

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, with a total value of $200,957.90. Following the completion of the purchase, 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 transaction 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 company insiders.

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.