Modine Manufacturing (NYSE:MOD) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in Modine Manufacturing (NYSE:MOD - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 175,108 shares of the auto parts company's stock after selling 5,626 shares during the quarter. Bank of New York Mellon Corp owned about 0.33% of Modine Manufacturing worth $20,300,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. US Bancorp DE lifted its position in Modine Manufacturing by 10.9% during the third quarter. US Bancorp DE now owns 4,918 shares of the auto parts company's stock worth $653,000 after buying an additional 485 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Modine Manufacturing by 90.9% during the third quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company's stock worth $137,000 after buying an additional 491 shares in the last quarter. Assetmark Inc. lifted its position in Modine Manufacturing by 176.5% during the third quarter. Assetmark Inc. now owns 8,894 shares of the auto parts company's stock worth $1,181,000 after buying an additional 5,677 shares in the last quarter. Axxcess Wealth Management LLC purchased a new position in Modine Manufacturing during the third quarter worth approximately $463,000. Finally, Peregrine Asset Advisers Inc. lifted its position in Modine Manufacturing by 61.6% during the third quarter. Peregrine Asset Advisers Inc. now owns 56,290 shares of the auto parts company's stock worth $7,475,000 after buying an additional 21,452 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company's stock.

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Insider Activity

In other news, Director William A. Wulfsohn acquired 2,530 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of $79.43 per share, with a total value of $200,957.90. Following the completion of the purchase, the director now owns 7,277 shares of the company's stock, valued at $578,012.11. This represents a 53.30 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.40% of the company's stock.

Modine Manufacturing Trading Down 2.9 %

Modine Manufacturing stock traded down $2.44 during trading on Thursday, reaching $81.92. 1,130,620 shares of the company were exchanged, compared to its average volume of 896,602. Modine Manufacturing has a 52-week low of $72.49 and a 52-week high of $146.84. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18. The company has a market capitalization of $4.31 billion, a P/E ratio of 27.49, a PEG ratio of 0.71 and a beta of 2.48. The stock's 50 day simple moving average is $102.29 and its two-hundred day simple moving average is $117.16.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its 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 research analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing declared that its board has approved a stock buyback program 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 programs are generally a sign that the company's board of directors believes its stock is undervalued.

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.