29,839 Shares in Modine Manufacturing (NYSE:MOD) Purchased by Blair William & Co. IL

Blair William & Co. IL acquired a new position in shares of Modine Manufacturing (NYSE:MOD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 29,839 shares of the auto parts company's stock, valued at approximately $3,459,000. Blair William & Co. IL owned about 0.06% of Modine Manufacturing as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Skandinaviska Enskilda Banken AB publ boosted its holdings in Modine Manufacturing by 567.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company's stock valued at $27,000 after purchasing an additional 193 shares during the last quarter. Principal Securities Inc. increased its position in shares of Modine Manufacturing by 97.8% during the fourth quarter. Principal Securities Inc. now owns 544 shares of the auto parts company's stock valued at $63,000 after acquiring an additional 269 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Modine Manufacturing by 6.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company's stock worth $157,000 after acquiring an additional 82 shares during the last quarter. Atom Investors LP acquired a new stake in Modine Manufacturing in the 3rd quarter valued at approximately $210,000. Finally, Quantinno Capital Management LP purchased a new stake in Modine Manufacturing in the third quarter valued at approximately $218,000. 95.23% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

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

Modine Manufacturing Stock Down 3.2 %

Shares of NYSE MOD traded down $2.32 during midday trading on Friday, hitting $70.29. The company's stock had a trading volume of 2,257,866 shares, compared to its average volume of 920,720. 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 firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 0.71 and a beta of 2.19. The business's fifty day simple moving average is $87.93 and its two-hundred day simple moving average is $114.22. Modine Manufacturing has a 1 year low of $64.79 and a 1 year high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued 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%. On average, equities analysts predict 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 permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the auto parts company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director William A. Wulfsohn purchased 2,530 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $79.43 per share, for a total transaction of $200,957.90. Following the purchase, the director now directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is owned by company insiders.

Modine Manufacturing Company 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.