EAM Global Investors LLC Cuts Position in Modine Manufacturing (NYSE:MOD)

EAM Global Investors LLC decreased its stake in Modine Manufacturing (NYSE:MOD - Free Report) by 17.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,034 shares of the auto parts company's stock after selling 5,869 shares during the period. EAM Global Investors LLC owned 0.05% of Modine Manufacturing worth $3,250,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. HighTower Advisors LLC increased its holdings in shares of Modine Manufacturing by 21.5% in 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 in the last quarter. Quantinno Capital Management LP bought a new stake in shares of Modine Manufacturing during the 3rd quarter worth $218,000. Stifel Financial Corp increased its stake in shares of Modine Manufacturing by 4.5% in the third quarter. Stifel Financial Corp now owns 22,234 shares of the auto parts company's stock worth $2,952,000 after purchasing an additional 964 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Modine Manufacturing by 268.9% during the third quarter. Public Employees Retirement System of Ohio now owns 1,793 shares of the auto parts company's stock worth $238,000 after buying an additional 1,307 shares during the last quarter. Finally, Barclays PLC grew its position in Modine Manufacturing by 272.4% in the 3rd quarter. Barclays PLC now owns 92,235 shares of the auto parts company's stock worth $12,247,000 after purchasing an additional 67,465 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company's stock.

Insider Buying and Selling

In related news, Director William A. Wulfsohn bought 2,530 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $79.43 per share, with a total value of $200,957.90. Following the completion of the purchase, the director now directly 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 acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Modine Manufacturing Stock Down 7.2 %

MOD traded down $5.48 during trading on Monday, hitting $70.38. The company had a trading volume of 241,381 shares, compared to its average volume of 935,816. The company has a market capitalization of $3.70 billion, a PE ratio of 23.62, a PEG ratio of 0.71 and a beta of 2.19. The firm's 50-day moving average price is $82.55 and its 200 day moving average price is $109.79. Modine Manufacturing has a one year low of $64.79 and a one year 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 released its earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share for the quarter, beating 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%. As a group, equities analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current year.

Modine Manufacturing declared that its Board of Directors has initiated a stock repurchase program 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 reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

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.