Portolan Capital Management LLC Grows Stock Position in Modine Manufacturing (NYSE:MOD)

Portolan Capital Management LLC lifted its position in Modine Manufacturing (NYSE:MOD - Free Report) by 57.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 328,899 shares of the auto parts company's stock after buying an additional 120,133 shares during the quarter. Modine Manufacturing comprises approximately 2.6% of Portolan Capital Management LLC's holdings, making the stock its 4th largest position. Portolan Capital Management LLC owned 0.63% of Modine Manufacturing worth $38,129,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Barclays PLC lifted its position in Modine Manufacturing by 9.3% during the 4th quarter. Barclays PLC now owns 100,769 shares of the auto parts company's stock worth $11,682,000 after acquiring an additional 8,534 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in Modine Manufacturing by 2.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,284 shares of the auto parts company's stock valued at $613,000 after purchasing an additional 146 shares during the period. Grandeur Peak Global Advisors LLC grew its holdings in Modine Manufacturing by 39.4% in the 4th quarter. Grandeur Peak Global Advisors LLC now owns 42,819 shares of the auto parts company's stock valued at $4,964,000 after buying an additional 12,096 shares during the last quarter. Raymond James Financial Inc. bought a new position in Modine Manufacturing in the 4th quarter worth approximately $19,719,000. Finally, Invesco Ltd. lifted its holdings in shares of Modine Manufacturing by 1.0% during the fourth quarter. Invesco Ltd. now owns 2,012,533 shares of the auto parts company's stock worth $233,313,000 after buying an additional 20,085 shares during the last quarter. 95.23% of the stock is owned by institutional investors.

Insider Activity

In related news, Director William A. Wulfsohn bought 2,530 shares of the business's stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.40% of the stock is owned by company insiders.

Modine Manufacturing Stock Performance

Modine Manufacturing stock traded up $0.43 during trading hours on Friday, hitting $75.86. The stock had a trading volume of 787,510 shares, compared to its average volume of 939,050. The company has a 50-day moving average of $82.55 and a two-hundred day moving average of $110.09. 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 has a fifty-two week low of $64.79 and a fifty-two week high of $146.84. The company has a market cap of $3.99 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 0.71 and a beta of 2.19.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued 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%. On average, equities research analysts anticipate that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Separately, DA Davidson restated a "buy" rating and issued 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.