Bridge City Capital LLC Buys 16,603 Shares of Modine Manufacturing (NYSE:MOD)

Bridge City Capital LLC boosted its stake in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 56.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,161 shares of the auto parts company's stock after acquiring an additional 16,603 shares during the quarter. Modine Manufacturing accounts for about 1.4% of Bridge City Capital LLC's investment portfolio, making the stock its 20th largest holding. Bridge City Capital LLC owned approximately 0.09% of Modine Manufacturing worth $5,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MOD. William Blair Investment Management LLC boosted its stake in shares of 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 during the period. Entropy Technologies LP bought a new stake in Modine Manufacturing during the 4th quarter valued at $452,000. New York State Common Retirement Fund boosted its position in Modine Manufacturing by 9.9% during the 4th quarter. New York State Common Retirement Fund now owns 247,975 shares of the auto parts company's stock valued at $28,748,000 after buying an additional 22,259 shares during the period. Legend Financial Advisors Inc. boosted its position 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 valued at $1,151,000 after buying an additional 279 shares during the period. Finally, Peregrine Capital Management LLC increased its position in shares of Modine Manufacturing by 10.9% in 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 period. 95.23% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

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

Modine Manufacturing Trading Down 7.5 %

NYSE:MOD traded down $6.52 during trading hours on Thursday, hitting $80.11. The company had a trading volume of 1,164,135 shares, compared to its average volume of 885,650. 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 stock has a 50-day moving average price of $95.07 and a 200 day moving average price of $115.42. The company has a market capitalization of $4.21 billion, a PE ratio of 26.88, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48. Modine Manufacturing has a 52 week low of $72.49 and a 52 week high of $146.84.

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

Modine Manufacturing announced that its board has approved a stock repurchase program on Friday, March 7th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the auto parts company to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Modine Manufacturing news, Director William A. Wulfsohn bought 2,530 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price 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 approximately $578,012.11. This represents a 53.30 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.40% of the company's stock.

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.