Brant Point Investment Management LLC Lowers Holdings in Modine Manufacturing (NYSE:MOD)

Brant Point Investment Management LLC lowered its stake in Modine Manufacturing (NYSE:MOD - Free Report) by 49.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 37,949 shares of the auto parts company's stock after selling 36,571 shares during the quarter. Brant Point Investment Management LLC owned 0.07% of Modine Manufacturing worth $4,399,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. William Blair Investment Management LLC lifted its holdings in Modine Manufacturing by 7.7% during the fourth quarter. William Blair Investment Management LLC now owns 247,400 shares of the auto parts company's stock valued at $28,681,000 after purchasing an additional 17,599 shares in the last quarter. Entropy Technologies LP purchased a new position in Modine Manufacturing in the 4th quarter valued at about $452,000. New York State Common Retirement Fund boosted its holdings in Modine Manufacturing by 9.9% in the 4th quarter. New York State Common Retirement Fund now owns 247,975 shares of the auto parts company's stock worth $28,748,000 after buying an additional 22,259 shares during the last quarter. Legend Financial Advisors Inc. increased its stake in Modine Manufacturing by 2.9% during the 4th quarter. Legend Financial Advisors Inc. now owns 9,929 shares of the auto parts company's stock worth $1,151,000 after buying an additional 279 shares in the last quarter. Finally, Peregrine Capital Management LLC raised its holdings in shares of Modine Manufacturing by 10.9% during the fourth quarter. Peregrine Capital Management LLC now owns 100,949 shares of the auto parts company's stock valued at $11,703,000 after acquiring an additional 9,920 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company's stock.

Insider Activity at Modine Manufacturing

In related news, Director William A. Wulfsohn acquired 2,530 shares of the firm's stock in a transaction dated 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 acquisition, the director now owns 7,277 shares in the company, valued at $578,012.11. The trade was a 53.30 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is owned by insiders.

Modine Manufacturing Trading Up 8.6 %

Modine Manufacturing stock traded up $6.20 during midday trading on Wednesday, hitting $78.40. 907,448 shares of the stock were exchanged, compared to its average volume of 940,060. The company has a current ratio of 1.87, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. The stock's 50-day simple moving average is $81.58 and its 200 day simple moving average is $109.08. Modine Manufacturing has a fifty-two week low of $64.79 and a fifty-two week high of $146.84. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 0.71 and a beta of 2.19.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released 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 anticipate that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing declared that its board has approved a stock repurchase program on Friday, March 7th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the auto parts company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, DA Davidson reiterated 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 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.