PEAK6 LLC acquired a new stake in Modine Manufacturing (NYSE:MOD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,333 shares of the auto parts company's stock, valued at approximately $618,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ boosted its stake 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 buying an additional 193 shares in the last quarter. Principal Securities Inc. grew its holdings in shares of Modine Manufacturing by 97.8% during the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company's stock valued at $63,000 after purchasing 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 valued at $157,000 after buying an additional 82 shares in the last quarter. Rothschild Investment LLC increased its holdings in shares of Modine Manufacturing by 34.4% during the fourth quarter. Rothschild Investment LLC now owns 1,720 shares of the auto parts company's stock worth $199,000 after buying an additional 440 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Modine Manufacturing by 8.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company's stock valued at $208,000 after acquiring an additional 136 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors.
Insider Transactions at Modine Manufacturing
In related news, Director William A. Wulfsohn acquired 2,530 shares of Modine Manufacturing stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $79.43 per share, with a total value of $200,957.90. Following the transaction, the director now directly owns 7,277 shares in the company, valued at $578,012.11. This represents a 53.30 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.40% of the company's stock.
Modine Manufacturing Trading Up 2.7 %
Shares of MOD stock traded up $2.13 on Friday, hitting $81.22. The company had a trading volume of 632,319 shares, compared to its average volume of 943,499. Modine Manufacturing has a twelve month low of $64.79 and a twelve month high of $146.84. 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 firm has a market cap of $4.27 billion, a P/E ratio of 27.09, a P/E/G ratio of 0.71 and a beta of 2.19. The stock's 50-day moving average is $81.00 and its two-hundred day moving average is $108.48.
Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (EPS) 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%. On average, equities research analysts anticipate that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.
Modine Manufacturing declared that its Board of Directors has authorized a share repurchase program on Friday, March 7th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the auto parts company to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.
Analyst Ratings Changes
Separately, DA Davidson restated a "buy" rating and set a $155.00 price target on shares of Modine Manufacturing in a report on Monday, March 17th.
View Our Latest Report on MOD
About Modine Manufacturing
(
Free Report)
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.
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