Blueshift Asset Management LLC Purchases Shares of 4,538 Modine Manufacturing (NYSE:MOD)

Blueshift Asset Management LLC bought a new stake in Modine Manufacturing (NYSE:MOD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,538 shares of the auto parts company's stock, valued at approximately $526,000.

A number of other large investors also recently added to or reduced their stakes in MOD. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of 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 buying an additional 193 shares during the period. Principal Securities Inc. grew its position in Modine Manufacturing by 97.8% in the 4th 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 in the last quarter. Private Trust Co. NA increased its stake in Modine Manufacturing by 650.5% during the third 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 during the period. Nisa Investment Advisors LLC lifted its position in shares of Modine Manufacturing by 6.5% during 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. Finally, KBC Group NV boosted its stake in shares of Modine Manufacturing by 47.8% in the third quarter. KBC Group NV now owns 1,456 shares of the auto parts company's stock valued at $193,000 after purchasing an additional 471 shares during the period. 95.23% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Modine Manufacturing

In other news, Director William A. Wulfsohn acquired 2,530 shares of the firm'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 transaction, the director now owns 7,277 shares in the company, valued at approximately $578,012.11. This trade represents a 53.30 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.40% of the company's stock.

Modine Manufacturing Stock Up 0.8 %

MOD traded up $0.71 on Tuesday, hitting $93.53. 1,208,375 shares of the company were exchanged, compared to its average volume of 884,117. The firm has a 50-day moving average price of $97.61 and a two-hundred day moving average price of $115.90. The company has a current ratio of 1.87, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. Modine Manufacturing has a twelve month low of $72.49 and a twelve month high of $146.84. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 EPS for the quarter, topping 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 predict that Modine Manufacturing will post 3.88 earnings per share for the current year.

Modine Manufacturing announced that its Board of Directors has initiated a share buyback program on Friday, March 7th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the auto parts company to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

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.