Modine Manufacturing (NYSE:MOD) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC reduced its position in Modine Manufacturing (NYSE:MOD - Free Report) by 39.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,304 shares of the auto parts company's stock after selling 3,386 shares during the quarter. Corient Private Wealth LLC's holdings in Modine Manufacturing were worth $615,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ grew its stake in Modine Manufacturing by 567.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company's stock worth $27,000 after buying an additional 193 shares during the period. Principal Securities Inc. lifted its holdings 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 valued at $63,000 after acquiring an additional 269 shares in the last quarter. Private Trust Co. NA boosted its position in 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 purchasing an additional 670 shares during the period. Nisa Investment Advisors LLC increased its holdings in 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 valued at $157,000 after purchasing an additional 82 shares in the last quarter. Finally, Atom Investors LP acquired a new stake in Modine Manufacturing in the 3rd quarter valued at $210,000. Institutional investors and hedge funds own 95.23% of the company's stock.

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Wall Street Analysts Forecast Growth

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

Modine Manufacturing Stock Up 6.4 %

NYSE:MOD traded up $5.11 during trading hours on Wednesday, hitting $85.37. The stock had a trading volume of 1,257,951 shares, compared to its average volume of 914,181. The business has a 50 day simple moving average of $90.52 and a two-hundred day simple moving average of $114.82. The company has a market cap of $4.49 billion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48. Modine Manufacturing has a 1-year low of $72.49 and a 1-year high of $146.84. 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 (NYSE:MOD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.13. Modine Manufacturing had a net margin of 6.31% and a return on equity of 24.25%. Analysts predict that Modine Manufacturing will post 3.88 EPS for the current year.

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

Insider Buying and Selling at Modine Manufacturing

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, with a total value of $200,957.90. Following the completion of the acquisition, the director now directly owns 7,277 shares of the company's stock, valued at approximately $578,012.11. The trade was a 53.30 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is owned by insiders.

About Modine Manufacturing

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.