F M Investments LLC Sells 123,516 Shares of Modine Manufacturing (NYSE:MOD)

F M Investments LLC trimmed its position in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 61.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,447 shares of the auto parts company's stock after selling 123,516 shares during the period. F M Investments LLC owned 0.15% of Modine Manufacturing worth $8,978,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MOD. Norges Bank purchased a new stake in shares of Modine Manufacturing in the fourth quarter worth about $31,590,000. Raymond James Financial Inc. bought a new stake in Modine Manufacturing in the fourth quarter worth $19,719,000. Clearbridge Investments LLC purchased a new stake in Modine Manufacturing during the fourth quarter valued at $18,930,000. Massachusetts Financial Services Co. MA bought a new position in Modine Manufacturing during the fourth quarter valued at $16,434,000. Finally, Artisan Partners Limited Partnership grew its stake in shares of Modine Manufacturing by 22.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 575,223 shares of the auto parts company's stock worth $66,686,000 after buying an additional 106,033 shares in the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson reaffirmed a "buy" rating and issued a $155.00 price target 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 purchased 2,530 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $79.43 per share, for a total transaction of $200,957.90. Following the completion of 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.40% of the stock is currently owned by corporate insiders.

Modine Manufacturing Trading Up 0.2 %

MOD stock traded up $0.12 during mid-day trading on Tuesday, reaching $77.53. 195,335 shares of the stock traded hands, compared to its average volume of 935,842. The business has a 50-day moving average price of $84.31 and a two-hundred day moving average price of $111.32. The stock has a market capitalization of $4.08 billion, a PE ratio of 26.02, a PEG 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. Modine Manufacturing has a one year low of $64.79 and a one year high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted 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%. Equities research analysts expect that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing declared that its Board of Directors has approved a share buyback program on Friday, March 7th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors 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.