Modine Manufacturing (NYSE:MOD) Shares Purchased by Signaturefd LLC

Signaturefd LLC raised its holdings in Modine Manufacturing (NYSE:MOD) by 6.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,786 shares of the auto parts company’s stock after buying an additional 157 shares during the quarter. Signaturefd LLC’s holdings in Modine Manufacturing were worth $323,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in MOD. Entropy Technologies LP acquired a new stake in shares of Modine Manufacturing in the fourth quarter valued at about $452,000. New York State Common Retirement Fund increased its holdings in Modine Manufacturing by 9.9% in the fourth quarter. New York State Common Retirement Fund now owns 247,975 shares of the auto parts company’s stock valued at $28,748,000 after buying an additional 22,259 shares in the last quarter. Legend Financial Advisors Inc. lifted its position in shares of Modine Manufacturing by 2.9% during the 4th quarter. Legend Financial Advisors Inc. now owns 9,929 shares of the auto parts company’s stock valued at $1,151,000 after acquiring an additional 279 shares during the period. Peregrine Capital Management LLC boosted its stake in shares of Modine Manufacturing by 10.9% during the 4th quarter. Peregrine Capital Management LLC now owns 100,949 shares of the auto parts company’s stock worth $11,703,000 after acquiring an additional 9,920 shares in the last quarter. Finally, Alberta Investment Management Corp grew its holdings in shares of Modine Manufacturing by 27.3% in the 4th quarter. Alberta Investment Management Corp now owns 58,437 shares of the auto parts company’s stock worth $6,775,000 after acquiring an additional 12,536 shares during the period. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director William A. Wulfsohn purchased 2,530 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $79.43 per share, with a total value of $200,957.90. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Modine Manufacturing Stock Up 1.0 %

Shares of NYSE:MOD opened at $88.68 on Friday. The company has a market capitalization of $4.66 billion, a P/E ratio of 29.76, a P/E/G ratio of 0.71 and a beta of 2.48. The stock’s fifty day simple moving average is $98.13 and its 200-day simple moving average is $115.86. Modine Manufacturing has a 52-week low of $72.49 and a 52-week high of $146.84. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38.

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

Modine Manufacturing announced that its board has approved a share repurchase program on Friday, March 7th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the auto parts company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is 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.