Grandeur Peak Global Advisors LLC Boosts Stake in Modine Manufacturing (NYSE:MOD)

Grandeur Peak Global Advisors LLC boosted its position in shares of Modine Manufacturing (NYSE:MOD) by 39.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 42,819 shares of the auto parts company’s stock after purchasing an additional 12,096 shares during the quarter. Grandeur Peak Global Advisors LLC owned about 0.08% of Modine Manufacturing worth $4,964,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MOD. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Modine Manufacturing by 567.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company’s stock valued at $27,000 after acquiring an additional 193 shares during the period. Principal Securities Inc. boosted its position in shares of Modine Manufacturing by 97.8% in the fourth quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock worth $63,000 after purchasing an additional 269 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Modine Manufacturing by 6.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock worth $157,000 after purchasing an additional 82 shares in the last quarter. Quantinno Capital Management LP bought a new stake in shares of Modine Manufacturing during the 3rd quarter valued at $218,000. Finally, Rothschild Investment LLC lifted its stake in shares of Modine Manufacturing by 34.4% during the 4th quarter. Rothschild Investment LLC now owns 1,720 shares of the auto parts company’s stock valued at $199,000 after buying an additional 440 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

MOD stock opened at $76.90 on Friday. The company’s fifty day moving average price is $84.89 and its 200-day moving average price is $111.83. Modine Manufacturing has a one year low of $64.79 and a one year high of $146.84. The company has a market capitalization of $4.04 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 0.71 and a beta of 2.19. 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 announced its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 EPS 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%. On average, equities analysts anticipate that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing declared that its board has approved 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 buy up to 2.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, Director William A. Wulfsohn bought 2,530 shares of the stock in a transaction dated 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 acquisition, the director now owns 7,277 shares of the company’s stock, valued at $578,012.11. The trade was a 53.30 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.40% of the company’s stock.

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.