Dimensional Fund Advisors LP Trims Holdings in Modine Manufacturing (NYSE:MOD)

Dimensional Fund Advisors LP trimmed its position in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 25.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,495,424 shares of the auto parts company's stock after selling 512,904 shares during the quarter. Dimensional Fund Advisors LP owned 2.84% of Modine Manufacturing worth $173,375,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MOD. William Blair Investment Management LLC increased its position in Modine Manufacturing by 7.7% during the 4th quarter. William Blair Investment Management LLC now owns 247,400 shares of the auto parts company's stock worth $28,681,000 after purchasing an additional 17,599 shares during the period. Entropy Technologies LP acquired a new position in Modine Manufacturing during the fourth quarter worth $452,000. New York State Common Retirement Fund raised its position in Modine Manufacturing by 9.9% in the fourth quarter. New York State Common Retirement Fund now owns 247,975 shares of the auto parts company's stock worth $28,748,000 after acquiring an additional 22,259 shares in the last quarter. Legend Financial Advisors Inc. raised its position in Modine Manufacturing by 2.9% in the fourth quarter. Legend Financial Advisors Inc. now owns 9,929 shares of the auto parts company's stock worth $1,151,000 after acquiring an additional 279 shares in the last quarter. Finally, Peregrine Capital Management LLC lifted its holdings in 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 owned by hedge funds and other institutional investors.

Modine Manufacturing Price Performance

NYSE MOD traded up $0.40 during mid-day trading on Tuesday, hitting $80.97. The stock had a trading volume of 160,999 shares, compared to its average volume of 939,796. The company has a 50 day simple moving average of $80.62 and a 200 day simple moving average of $107.41. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 27.17, a P/E/G ratio of 0.71 and a beta of 2.19. Modine Manufacturing has a 52-week low of $64.79 and a 52-week high of $146.84. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38.

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 for the quarter, beating 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 analysts forecast that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing announced that its Board of Directors has approved a share repurchase plan on Friday, March 7th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Modine Manufacturing news, Director William A. Wulfsohn acquired 2,530 shares of the company'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 purchase, the director now directly owns 7,277 shares in the company, valued at approximately $578,012.11. This trade represents a 53.30 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 2.40% of the stock is currently owned by company 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.