Pictet Asset Management Holding SA Sells 17,813 Shares of Modine Manufacturing (NYSE:MOD)

Pictet Asset Management Holding SA decreased its stake in Modine Manufacturing (NYSE:MOD - Free Report) by 4.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 427,687 shares of the auto parts company's stock after selling 17,813 shares during the period. Pictet Asset Management Holding SA owned about 0.81% of Modine Manufacturing worth $49,582,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Modine Manufacturing by 567.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company's stock valued at $27,000 after acquiring an additional 193 shares during the last quarter. Principal Securities Inc. raised its position in Modine Manufacturing by 97.8% in the fourth 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. Private Trust Co. NA boosted its stake in shares of Modine Manufacturing by 650.5% during the third quarter. Private Trust Co. NA now owns 773 shares of the auto parts company's stock valued at $103,000 after purchasing an additional 670 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Modine Manufacturing by 6.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company's stock valued at $157,000 after purchasing an additional 82 shares in the last quarter. Finally, Rothschild Investment LLC grew 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 purchasing an additional 440 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company's stock.

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Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Modine Manufacturing news, Director William A. Wulfsohn purchased 2,530 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was purchased at an average cost of $79.43 per share, for a total transaction of $200,957.90. Following the acquisition, the director now owns 7,277 shares in the company, valued at approximately $578,012.11. The trade was a 53.30 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.40% of the company's stock.

Modine Manufacturing Trading Down 10.3 %

NYSE MOD traded down $8.76 on Thursday, reaching $76.56. The company had a trading volume of 418,284 shares, compared to its average volume of 1,365,022. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of 25.69, a P/E/G ratio of 0.71 and a beta of 2.48. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18. Modine Manufacturing has a fifty-two week low of $72.49 and a fifty-two week high of $146.84. The business has a 50 day moving average of $90.52 and a two-hundred day moving average of $114.82.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. Analysts forecast that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing declared that its Board of Directors has initiated a stock buyback plan on Friday, March 7th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the auto parts company to repurchase 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 shares are undervalued.

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.