57,800 Shares in Modine Manufacturing (NYSE:MOD) Acquired by Natixis

Natixis bought a new stake in Modine Manufacturing (NYSE:MOD - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 57,800 shares of the auto parts company's stock, valued at approximately $6,701,000. Natixis owned about 0.11% of Modine Manufacturing as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MOD. Capital World Investors boosted its position in Modine Manufacturing by 8.2% during the 4th quarter. Capital World Investors now owns 591,174 shares of the auto parts company's stock worth $68,535,000 after acquiring an additional 44,796 shares during the period. Covalis Capital LLP acquired a new stake in Modine Manufacturing in the fourth quarter worth about $5,985,000. Osterweis Capital Management Inc. grew its position in Modine Manufacturing by 22.4% in the 4th quarter. Osterweis Capital Management Inc. now owns 133,727 shares of the auto parts company's stock valued at $15,503,000 after buying an additional 24,452 shares in the last quarter. Marshall Wace LLP increased its stake in Modine Manufacturing by 148.7% during the 4th quarter. Marshall Wace LLP now owns 9,700 shares of the auto parts company's stock valued at $1,125,000 after buying an additional 5,800 shares during the period. Finally, Charter Oak Advisors LP bought a new stake in shares of Modine Manufacturing during the 4th quarter worth about $6,146,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Modine Manufacturing Price Performance

NYSE:MOD traded up $2.15 during trading hours on Friday, reaching $81.24. 926,422 shares of the company's stock were exchanged, compared to its average volume of 943,500. The company has a market capitalization of $4.27 billion, a P/E ratio of 27.26, 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. The business's 50-day simple moving average is $81.00 and its two-hundred day simple moving average is $108.48. 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 data on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share for the quarter, topping 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%. Sell-side analysts expect that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing declared that its board has approved a stock repurchase plan on Friday, March 7th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the auto parts company to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Modine Manufacturing

In related news, Director William A. Wulfsohn purchased 2,530 shares of Modine Manufacturing stock in a transaction 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 acquisition, the director now directly owns 7,277 shares in the company, valued at approximately $578,012.11. This trade represents a 53.30 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 2.40% of the stock is owned by company insiders.

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.

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.