Harvest Fund Management Co. Ltd Sells 185 Shares of Modine Manufacturing (NYSE:MOD)

Harvest Fund Management Co. Ltd trimmed its holdings in Modine Manufacturing (NYSE:MOD) by 12.5% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,290 shares of the auto parts company’s stock after selling 185 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Modine Manufacturing were worth $150,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Xponance Inc. increased its holdings in Modine Manufacturing by 12.0% in the 4th quarter. Xponance Inc. now owns 3,776 shares of the auto parts company’s stock worth $438,000 after buying an additional 406 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of Modine Manufacturing by 7.7% during the 4th quarter. William Blair Investment Management LLC now owns 247,400 shares of the auto parts company’s stock valued at $28,681,000 after purchasing an additional 17,599 shares during the period. Signaturefd LLC grew its stake in shares of Modine Manufacturing by 6.0% during the 4th quarter. Signaturefd LLC now owns 2,786 shares of the auto parts company’s stock valued at $323,000 after purchasing an additional 157 shares during the period. Cibc World Markets Corp purchased a new stake in shares of Modine Manufacturing during the 4th quarter valued at about $560,000. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in shares of Modine Manufacturing by 8.2% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company’s stock worth $208,000 after purchasing an additional 136 shares during the period. 95.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Modine Manufacturing Stock Performance

NYSE:MOD opened at $88.68 on Friday. The stock has a 50-day simple moving average of $98.13 and a two-hundred day simple moving average of $115.91. 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 has a 52-week low of $72.49 and a 52-week high of $146.84. The firm has a market capitalization of $4.66 billion, a PE ratio of 29.76, a P/E/G ratio of 0.71 and a beta of 2.48.

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 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 forecast that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing announced that its Board of Directors has initiated a share repurchase plan on Friday, March 7th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes 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 board of directors believes its stock is undervalued.

Insider Activity

In other Modine Manufacturing news, Director William A. Wulfsohn bought 2,530 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $79.43 per share, for a total transaction of $200,957.90. Following the completion of the transaction, the director now owns 7,277 shares of the company’s stock, valued at $578,012.11. This trade represents a 53.30 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.40% of the company’s stock.

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.