Voya Investment Management LLC Increases Holdings in Modine Manufacturing (NYSE:MOD)

Voya Investment Management LLC increased its holdings in Modine Manufacturing (NYSE:MOD - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 295,113 shares of the auto parts company's stock after buying an additional 9,885 shares during the quarter. Voya Investment Management LLC owned 0.56% of Modine Manufacturing worth $34,212,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in MOD. William Blair Investment Management LLC grew its position in shares of Modine Manufacturing by 7.7% during the 4th quarter. William Blair Investment Management LLC now owns 247,400 shares of the auto parts company's stock valued at $28,681,000 after acquiring an additional 17,599 shares during the period. Entropy Technologies LP bought a new stake in Modine Manufacturing during the fourth quarter valued at about $452,000. New York State Common Retirement Fund increased its position in Modine Manufacturing by 9.9% in the fourth quarter. New York State Common Retirement Fund now owns 247,975 shares of the auto parts company's stock worth $28,748,000 after buying an additional 22,259 shares in the last quarter. Legend Financial Advisors Inc. raised its stake in shares of Modine Manufacturing by 2.9% in the fourth quarter. Legend Financial Advisors Inc. now owns 9,929 shares of the auto parts company's stock worth $1,151,000 after buying an additional 279 shares during the period. Finally, Peregrine Capital Management LLC lifted its position in shares of Modine Manufacturing by 10.9% during the 4th quarter. Peregrine Capital Management LLC now owns 100,949 shares of the auto parts company's stock valued at $11,703,000 after buying an additional 9,920 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors.

Insider Activity at Modine Manufacturing

In other news, Director William A. Wulfsohn purchased 2,530 shares of the business's stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $79.43 per share, for a total transaction of $200,957.90. Following the acquisition, the director now directly owns 7,277 shares of the company's stock, valued at $578,012.11. This represents a 53.30 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, 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 restated a "buy" rating and set a $155.00 target price on shares of Modine Manufacturing in a research note on Monday, March 17th.

Modine Manufacturing Price Performance

Shares of Modine Manufacturing stock traded down $0.59 during trading hours on Monday, hitting $80.54. The company's stock had a trading volume of 565,277 shares, compared to its average volume of 942,856. The company has a market cap of $4.23 billion, a PE ratio of 27.03, 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. The business has a 50 day moving average price of $80.62 and a two-hundred day moving average price of $107.41. Modine Manufacturing has a 12-month low of $64.79 and a 12-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 EPS for the quarter, topping 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%. Analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing declared that its board has authorized a share repurchase plan on Friday, March 7th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows 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 believes its stock is undervalued.

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.