Johnson Investment Counsel Inc. Sells 741 Shares of Modine Manufacturing (NYSE:MOD)

Johnson Investment Counsel Inc. lessened its holdings in Modine Manufacturing (NYSE:MOD) by 22.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,603 shares of the auto parts company’s stock after selling 741 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Modine Manufacturing were worth $302,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Principal Securities Inc. boosted its stake in shares of Modine Manufacturing by 97.8% during the fourth quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock valued at $63,000 after purchasing an additional 269 shares during the period. Private Trust Co. NA boosted its position in Modine Manufacturing by 650.5% in the 3rd quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock valued at $103,000 after buying an additional 670 shares during the period. Nisa Investment Advisors LLC boosted its position in Modine Manufacturing by 6.5% in the 4th 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 during the period. KBC Group NV grew its stake in Modine Manufacturing by 47.8% in the 3rd quarter. KBC Group NV now owns 1,456 shares of the auto parts company’s stock worth $193,000 after acquiring an additional 471 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Modine Manufacturing during the third quarter worth approximately $196,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Down 2.9 %

Shares of NYSE MOD opened at $81.92 on Friday. Modine Manufacturing has a 52-week low of $72.49 and a 52-week high of $146.84. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 27.49, a PEG ratio of 0.71 and a beta of 2.48. The stock has a 50 day moving average price of $102.29 and a 200 day moving average price of $117.16. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.87.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. Sell-side analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current year.

Modine Manufacturing declared that its board has initiated a share buyback 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 purchase up to 2.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Modine Manufacturing news, Director William A. Wulfsohn bought 2,530 shares of the business’s stock in a transaction on 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 transaction, the director now owns 7,277 shares of the company’s stock, valued at approximately $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 hyperlink. 2.40% of the stock is owned by 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.