Modine Manufacturing (NYSE:MOD) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P decreased its stake in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 400,062 shares of the auto parts company's stock after selling 11,690 shares during the period. Loomis Sayles & Co. L P owned 0.76% of Modine Manufacturing worth $46,379,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Artisan Partners Limited Partnership increased its position in 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. Neumeier Poma Investment Counsel LLC lifted its stake in shares of Modine Manufacturing by 0.8% during the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 179,431 shares of the auto parts company's stock worth $20,801,000 after purchasing an additional 1,501 shares in the last quarter. Situational Awareness LP purchased a new stake in shares of Modine Manufacturing in the fourth quarter worth about $7,694,000. Cannon Global Investment Management LLC boosted its position in shares of Modine Manufacturing by 37.1% in the fourth quarter. Cannon Global Investment Management LLC now owns 4,800 shares of the auto parts company's stock worth $556,000 after buying an additional 1,300 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Modine Manufacturing by 1.4% during the fourth 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 period. Hedge funds and other institutional investors own 95.23% of the company's stock.

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Modine Manufacturing Stock Up 1.0 %

Shares of MOD traded up $0.76 during trading on Tuesday, reaching $77.51. The company's stock had a trading volume of 159,569 shares, compared to its average volume of 908,662. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 25.88, a P/E/G ratio of 0.71 and a beta of 2.48. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. The company has a fifty day moving average of $92.86 and a two-hundred day moving average of $115.24. Modine Manufacturing has a twelve month low of $72.49 and a twelve month high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (EPS) 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%. On average, sell-side analysts predict that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

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

Insider Transactions at Modine Manufacturing

In other news, Director William A. Wulfsohn acquired 2,530 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $79.43 per share, with a total value of $200,957.90. Following the completion of the acquisition, the director now directly owns 7,277 shares in the company, valued at $578,012.11. This represents a 53.30 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.40% of the company's stock.

Analysts Set New Price Targets

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

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.