Grandeur Peak Global Advisors LLC Increases Stock Holdings in Modine Manufacturing (NYSE:MOD)

Grandeur Peak Global Advisors LLC grew its position in Modine Manufacturing (NYSE:MOD - Free Report) by 39.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,819 shares of the auto parts company's stock after acquiring an additional 12,096 shares during the period. Grandeur Peak Global Advisors LLC owned about 0.08% of Modine Manufacturing worth $4,964,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. William Blair Investment Management LLC grew its stake in shares of 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 about $452,000. New York State Common Retirement Fund increased its holdings 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 valued at $28,748,000 after buying an additional 22,259 shares in the last quarter. Legend Financial Advisors Inc. lifted its position in shares of Modine Manufacturing by 2.9% during the 4th quarter. Legend Financial Advisors Inc. now owns 9,929 shares of the auto parts company's stock valued at $1,151,000 after acquiring an additional 279 shares during the period. Finally, Peregrine Capital Management LLC boosted its stake in shares of Modine Manufacturing by 10.9% during the 4th quarter. Peregrine Capital Management LLC now owns 100,949 shares of the auto parts company's stock worth $11,703,000 after acquiring an additional 9,920 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

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Modine Manufacturing Price Performance

NYSE:MOD traded down $0.60 during mid-day trading on Tuesday, hitting $76.81. 756,132 shares of the company's stock traded hands, compared to its average volume of 939,416. 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 company has a market cap of $4.04 billion, a PE ratio of 25.78, a price-to-earnings-growth ratio of 0.71 and a beta of 2.19. The firm's 50 day simple moving average is $84.31 and its 200 day simple moving average is $111.32. Modine Manufacturing has a 1 year low of $64.79 and a 1 year high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share for the quarter, topping 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%. Sell-side analysts expect that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing declared that its board has authorized a share repurchase plan on Friday, March 7th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the auto parts company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

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

Insider Activity at Modine Manufacturing

In other news, Director William A. Wulfsohn bought 2,530 shares of Modine Manufacturing stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $79.43 per share, for a total transaction of $200,957.90. Following the acquisition, the director now owns 7,277 shares in the company, valued at approximately $578,012.11. This trade represents a 53.30 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.40% of the company's stock.

Modine Manufacturing Company 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.