Capital International Investors Decreases Position in Modine Manufacturing (NYSE:MOD)

Capital International Investors trimmed its position in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 8.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 942,220 shares of the auto parts company's stock after selling 91,369 shares during the quarter. Capital International Investors owned 1.79% of Modine Manufacturing worth $109,232,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Modine Manufacturing by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 5,058,967 shares of the auto parts company's stock valued at $586,486,000 after purchasing an additional 70,581 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Modine Manufacturing by 1.0% during the 4th quarter. Invesco Ltd. now owns 2,012,533 shares of the auto parts company's stock worth $233,313,000 after acquiring an additional 20,085 shares during the last quarter. Wasatch Advisors LP boosted its holdings in Modine Manufacturing by 108.0% during the 4th quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company's stock valued at $165,596,000 after acquiring an additional 741,667 shares during the period. Principal Financial Group Inc. grew its position in Modine Manufacturing by 2.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company's stock valued at $153,072,000 after acquiring an additional 26,527 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its position in shares of Modine Manufacturing by 22.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 575,223 shares of the auto parts company's stock worth $66,686,000 after purchasing an additional 106,033 shares during the last quarter. Institutional investors own 95.23% of the company's stock.

Insider Buying and Selling at Modine Manufacturing

In related news, Director William A. Wulfsohn acquired 2,530 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $79.43 per share, with a total value of $200,957.90. Following the completion of the transaction, the director now directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.40% of the company's stock.

Analyst Ratings Changes

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

Modine Manufacturing Stock Up 6.6 %

Shares of MOD traded up $4.78 during midday trading on Wednesday, reaching $76.98. 1,675,732 shares of the stock were exchanged, compared to its average volume of 942,992. The company has a market capitalization of $4.05 billion, a P/E ratio of 25.83, a PEG ratio of 0.71 and a beta of 2.19. 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 has a 52 week low of $64.79 and a 52 week high of $146.84. The company's 50 day moving average is $81.58 and its two-hundred day moving average is $109.08.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.13. Modine Manufacturing had a net margin of 6.31% and a return on equity of 24.25%. On average, sell-side analysts anticipate that Modine Manufacturing will post 3.88 earnings per share for the current year.

Modine Manufacturing announced that its board has authorized a share repurchase plan on Friday, March 7th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the auto parts company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are 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.