Public Employees Retirement Association of Colorado Has $30.98 Million Position in Modine Manufacturing (NYSE:MOD)

Public Employees Retirement Association of Colorado cut its position in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 267,255 shares of the auto parts company's stock after selling 12,560 shares during the quarter. Public Employees Retirement Association of Colorado owned 0.51% of Modine Manufacturing worth $30,983,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Modine Manufacturing by 567.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company's stock worth $27,000 after purchasing an additional 193 shares in the last quarter. Principal Securities Inc. lifted 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 worth $63,000 after purchasing an additional 269 shares during the period. Nisa Investment Advisors LLC boosted its stake in 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 worth $157,000 after buying an additional 82 shares in the last quarter. Rothschild Investment LLC increased its holdings in Modine Manufacturing by 34.4% in the 4th quarter. Rothschild Investment LLC now owns 1,720 shares of the auto parts company's stock valued at $199,000 after buying an additional 440 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of Modine Manufacturing by 8.2% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company's stock valued at $208,000 after buying an additional 136 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Price Performance

Modine Manufacturing stock opened at $81.24 on Friday. The business has a 50 day simple moving average of $80.78 and a 200 day simple moving average of $107.95. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18. The company has a market capitalization of $4.27 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 0.71 and a beta of 2.19. Modine Manufacturing has a one year low of $64.79 and a one year high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (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, sell-side analysts forecast that Modine Manufacturing will post 3.88 EPS for the current fiscal 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 shares. This repurchase authorization allows the auto parts company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, Director William A. Wulfsohn bought 2,530 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $79.43 per share, for a total transaction of $200,957.90. Following the completion of the purchase, the director now owns 7,277 shares of the company's stock, valued at approximately $578,012.11. The trade was a 53.30 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.40% of the company's stock.

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.

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