Modine Manufacturing (NYSE:MOD) Shares Purchased by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. raised its stake in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 56.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,986 shares of the auto parts company's stock after acquiring an additional 4,324 shares during the period. Cookson Peirce & Co. Inc.'s holdings in Modine Manufacturing were worth $1,390,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MOD. Principal Securities Inc. raised its stake in shares of Modine Manufacturing by 97.8% during the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company's stock worth $63,000 after buying an additional 269 shares in the last quarter. Private Trust Co. NA raised its stake in shares of Modine Manufacturing by 650.5% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the auto parts company's stock worth $103,000 after buying an additional 670 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Modine Manufacturing by 90.9% during the 3rd 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. Nisa Investment Advisors LLC raised its stake in shares of Modine Manufacturing by 6.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company's stock worth $157,000 after buying an additional 82 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Modine Manufacturing by 47.8% during the 3rd quarter. KBC Group NV now owns 1,456 shares of the auto parts company's stock worth $193,000 after buying an additional 471 shares in the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

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Modine Manufacturing Stock Performance

Shares of MOD stock traded up $5.03 during trading hours on Friday, reaching $81.09. 1,514,917 shares of the company's stock were exchanged, compared to its average volume of 895,816. The company has a market cap of $4.26 billion, a P/E ratio of 27.21, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48. The company's 50 day moving average is $105.13 and its two-hundred day moving average is $118.05. Modine Manufacturing has a 1 year low of $72.49 and a 1 year 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.

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

Modine Manufacturing announced that its board has authorized a share repurchase program on Friday, March 7th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the auto parts company to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Transactions at Modine Manufacturing

In other news, Director William A. Wulfsohn purchased 2,530 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price of $79.43 per share, for a total transaction of $200,957.90. Following the acquisition, the director now directly owns 7,277 shares in the company, valued at approximately $578,012.11. The trade was a 53.30 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.