Proficio Capital Partners LLC acquired a new stake in Modine Manufacturing (NYSE:MOD - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 16,926 shares of the auto parts company's stock, valued at approximately $1,962,000.
A number of other institutional investors have also made changes to their positions in the stock. Principal Securities Inc. grew its holdings in Modine Manufacturing by 97.8% in the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company's stock valued at $63,000 after buying an additional 269 shares during the last quarter. Private Trust Co. NA grew its holdings in Modine Manufacturing by 650.5% in the 3rd quarter. Private Trust Co. NA now owns 773 shares of the auto parts company's stock valued at $103,000 after buying an additional 670 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Modine Manufacturing by 6.5% in the 4th 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 during the last quarter. KBC Group NV grew its holdings in Modine Manufacturing by 47.8% in the 3rd quarter. KBC Group NV now owns 1,456 shares of the auto parts company's stock valued at $193,000 after buying an additional 471 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Modine Manufacturing in the 3rd quarter valued at approximately $196,000. 95.23% of the stock is owned by institutional investors.
Modine Manufacturing Stock Performance
Shares of NYSE:MOD traded up $0.88 during trading on Friday, hitting $88.68. 1,275,952 shares of the stock were exchanged, compared to its average volume of 884,731. Modine Manufacturing has a 1-year low of $72.49 and a 1-year high of $146.84. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 29.76, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48. The company's fifty day simple moving average is $98.13 and its 200-day simple moving average is $115.91. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.87.
Modine Manufacturing (NYSE:MOD - Get Free Report) last announced 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 return on equity of 24.25% and a net margin of 6.31%. Sell-side analysts expect that Modine Manufacturing will post 3.88 EPS for the current fiscal year.
Modine Manufacturing announced that its Board of Directors has approved a stock buyback plan on Friday, March 7th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.
Analysts Set New Price Targets
Separately, DA Davidson reaffirmed a "buy" rating and issued a $155.00 target price on shares of Modine Manufacturing in a report on Monday, March 17th.
Read Our Latest Stock Report on MOD
Insider Transactions at Modine Manufacturing
In related news, Director William A. Wulfsohn purchased 2,530 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price of $79.43 per share, with a total value of $200,957.90. Following the purchase, the director now directly owns 7,277 shares in the company, 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 insiders.
Modine Manufacturing Company Profile
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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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