Modine Manufacturing (NYSE:MOD) Shares Bought by American Century Companies Inc.

American Century Companies Inc. increased its position in Modine Manufacturing (NYSE:MOD - Free Report) by 20.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 289,734 shares of the auto parts company's stock after acquiring an additional 48,278 shares during the period. American Century Companies Inc. owned approximately 0.55% of Modine Manufacturing worth $33,589,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MOD. Pathstone Holdings LLC lifted its stake in Modine Manufacturing by 48.2% in the 3rd quarter. Pathstone Holdings LLC now owns 10,421 shares of the auto parts company's stock valued at $1,384,000 after buying an additional 3,391 shares in the last quarter. Citigroup Inc. lifted its position in shares of Modine Manufacturing by 86.6% in the third quarter. Citigroup Inc. now owns 50,229 shares of the auto parts company's stock valued at $6,670,000 after acquiring an additional 23,314 shares in the last quarter. Algert Global LLC boosted its stake in shares of Modine Manufacturing by 122.5% during the third quarter. Algert Global LLC now owns 11,110 shares of the auto parts company's stock valued at $1,475,000 after acquiring an additional 6,116 shares during the last quarter. Private Trust Co. NA increased its position in Modine Manufacturing by 650.5% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the auto parts company's stock worth $103,000 after purchasing an additional 670 shares in the last quarter. Finally, FMR LLC raised its stake in Modine Manufacturing by 14.0% in the 3rd quarter. FMR LLC now owns 4,417,927 shares of the auto parts company's stock valued at $586,657,000 after purchasing an additional 543,419 shares during the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at Modine Manufacturing

In other news, Director William A. Wulfsohn bought 2,530 shares of Modine Manufacturing stock in a transaction on Monday, March 3rd. The shares were bought at an average price of $79.43 per share, with a total value of $200,957.90. Following the acquisition, the director now directly owns 7,277 shares in the company, valued at approximately $578,012.11. This represents a 53.30 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Modine Manufacturing Trading Up 6.4 %

Modine Manufacturing stock traded up $5.11 during trading on Wednesday, reaching $85.37. The company had a trading volume of 1,257,951 shares, compared to its average volume of 914,181. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 0.71 and a beta of 2.48. The stock's 50 day moving average price is $90.52 and its two-hundred day moving average price is $114.82. Modine Manufacturing has a 12-month low of $72.49 and a 12-month high of $146.84. 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 - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 EPS for the quarter, beating 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%. As a group, equities analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing declared that its board has initiated a share buyback 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 reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors 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.