ExodusPoint Capital Management LP Invests $2.02 Million in Modine Manufacturing (NYSE:MOD)

ExodusPoint Capital Management LP acquired a new position in shares of Modine Manufacturing (NYSE:MOD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 17,400 shares of the auto parts company's stock, valued at approximately $2,017,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MOD. Massachusetts Financial Services Co. MA bought a new stake in Modine Manufacturing during the 4th quarter worth approximately $16,434,000. Franklin Resources Inc. boosted its position in Modine Manufacturing by 18.1% in the fourth quarter. Franklin Resources Inc. now owns 315,002 shares of the auto parts company's stock valued at $36,518,000 after buying an additional 48,271 shares in the last quarter. B. Metzler seel. Sohn & Co. AG lifted its holdings in Modine Manufacturing by 54.1% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 15,217 shares of the auto parts company's stock worth $1,764,000 after buying an additional 5,343 shares during the period. Axiom Investors LLC DE raised its holdings in Modine Manufacturing by 6.9% during the 4th quarter. Axiom Investors LLC DE now owns 184,630 shares of the auto parts company's stock worth $21,404,000 after purchasing an additional 11,899 shares during the last quarter. Finally, Clearbridge Investments LLC acquired a new position in shares of Modine Manufacturing in the 4th quarter valued at about $18,930,000. Institutional investors and hedge funds own 95.23% of the company's stock.

Analysts Set New Price Targets

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

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Insider Buying and Selling at Modine Manufacturing

In related news, Director William A. Wulfsohn bought 2,530 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $79.43 per share, with a total value of $200,957.90. Following the acquisition, the director now owns 7,277 shares in the company, valued at $578,012.11. This trade represents a 53.30 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.40% of the stock is owned by corporate insiders.

Modine Manufacturing Stock Performance

MOD stock traded up $1.35 during mid-day trading on Monday, hitting $78.00. The company had a trading volume of 99,190 shares, compared to its average volume of 936,031. The firm has a market cap of $4.10 billion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 0.71 and a beta of 2.19. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.87. The stock's fifty day moving average price is $84.89 and its two-hundred day moving average price is $111.70. Modine Manufacturing has a 12 month low of $64.79 and a 12 month 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 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%. On average, analysts forecast that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing announced that its Board of Directors has initiated a stock repurchase plan 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 repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

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.