Modine Manufacturing (NYSE:MOD) Shares Sold by Fmr LLC

FMR LLC lessened its holdings in Modine Manufacturing (NYSE:MOD - Free Report) by 12.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,879,387 shares of the auto parts company's stock after selling 538,540 shares during the quarter. FMR LLC owned 7.38% of Modine Manufacturing worth $449,737,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MOD. Captrust Financial Advisors purchased a new stake in Modine Manufacturing during the 3rd quarter worth approximately $274,000. HighTower Advisors LLC grew its holdings in shares of Modine Manufacturing by 21.5% during the third quarter. HighTower Advisors LLC now owns 6,474 shares of the auto parts company's stock valued at $861,000 after buying an additional 1,147 shares during the last quarter. Quantinno Capital Management LP acquired a new position in shares of Modine Manufacturing in the 3rd quarter valued at $218,000. Stifel Financial Corp raised its stake in Modine Manufacturing by 4.5% in the 3rd quarter. Stifel Financial Corp now owns 22,234 shares of the auto parts company's stock worth $2,952,000 after acquiring an additional 964 shares during the last quarter. Finally, State Street Corp lifted its position in Modine Manufacturing by 1.5% during the 3rd quarter. State Street Corp now owns 1,219,916 shares of the auto parts company's stock worth $161,993,000 after acquiring an additional 18,108 shares during the period. Hedge funds and other institutional investors own 95.23% of the company's stock.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, Director William A. Wulfsohn purchased 2,530 shares of the stock in a transaction on Monday, March 3rd. The shares were bought at an average price of $79.43 per share, for a total transaction of $200,957.90. Following the completion of the transaction, the director now owns 7,277 shares of the company's stock, valued at $578,012.11. This trade represents a 53.30 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.40% of the stock is currently owned by corporate insiders.

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Wall Street Analyst Weigh In

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

Modine Manufacturing Stock Performance

Shares of Modine Manufacturing stock traded up $0.31 during trading on Tuesday, hitting $77.72. 140,794 shares of the company's stock were exchanged, compared to its average volume of 935,627. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 0.71 and a beta of 2.19. The business has a 50-day simple moving average of $84.31 and a 200-day simple moving average of $111.32. Modine Manufacturing has a 52-week low of $64.79 and a 52-week high of $146.84. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.87.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released 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 return on equity of 24.25% and a net margin of 6.31%. On average, research analysts forecast that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing declared that its Board of Directors has initiated a share 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 buy up to 2.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

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.