Wellington Management Group LLP Trims Position in Modine Manufacturing (NYSE:MOD)

Wellington Management Group LLP reduced its stake in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 10.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 627,148 shares of the auto parts company's stock after selling 71,873 shares during the quarter. Wellington Management Group LLP owned 1.19% of Modine Manufacturing worth $72,705,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MOD. Skandinaviska Enskilda Banken AB publ raised its position in Modine Manufacturing by 567.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company's stock valued at $27,000 after purchasing an additional 193 shares during the last quarter. Principal Securities Inc. boosted its position in shares of Modine Manufacturing by 97.8% during the fourth quarter. Principal Securities Inc. now owns 544 shares of the auto parts company's stock valued at $63,000 after buying an additional 269 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Modine Manufacturing by 6.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company's stock worth $157,000 after purchasing an additional 82 shares during the last quarter. Rothschild Investment LLC boosted its position in Modine Manufacturing by 34.4% in the fourth quarter. Rothschild Investment LLC now owns 1,720 shares of the auto parts company's stock worth $199,000 after purchasing an additional 440 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of Modine Manufacturing by 8.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company's stock valued at $208,000 after buying an additional 136 shares during the period. 95.23% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other news, Director William A. Wulfsohn purchased 2,530 shares of Modine Manufacturing stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of $79.43 per share, with a total value of $200,957.90. Following the transaction, the director now 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.40% of the company's stock.

Modine Manufacturing Stock Performance

NYSE:MOD traded down $7.62 during mid-day trading on Thursday, hitting $75.94. 308,102 shares of the company traded hands, compared to its average volume of 931,468. The stock's fifty day moving average price is $85.70 and its 200-day moving average price is $112.62. Modine Manufacturing has a one year low of $64.79 and a one year high of $146.84. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 0.71 and a beta of 2.19. 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 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. Research analysts anticipate that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

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

About Modine Manufacturing

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.