Quantessence Capital LLC Invests $404,000 in Modine Manufacturing (NYSE:MOD)

Quantessence Capital LLC purchased a new position in shares of Modine Manufacturing (NYSE:MOD - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 3,487 shares of the auto parts company's stock, valued at approximately $404,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wasatch Advisors LP grew its holdings in shares of Modine Manufacturing by 108.0% during the fourth quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company's stock worth $165,596,000 after purchasing an additional 741,667 shares during the last quarter. Norges Bank acquired a new stake in Modine Manufacturing in the 4th quarter valued at about $31,590,000. Raymond James Financial Inc. bought a new position in shares of Modine Manufacturing in the fourth quarter worth about $19,719,000. Clearbridge Investments LLC acquired a new position in shares of Modine Manufacturing during the fourth quarter worth approximately $18,930,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Modine Manufacturing during the fourth quarter worth approximately $16,434,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Stock Up 4.4 %

Shares of NYSE:MOD opened at $72.34 on Wednesday. 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 stock has a market cap of $3.80 billion, a price-to-earnings ratio of 24.28, a P/E/G ratio of 0.71 and a beta of 2.19. The company has a 50 day moving average of $81.58 and a 200-day moving average of $109.08. 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 released its earnings results on Tuesday, February 4th. The auto parts company reported $0.92 EPS for the quarter, topping analysts' consensus estimates 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, sell-side analysts forecast that Modine Manufacturing will post 3.88 earnings per share for the current year.

Modine Manufacturing announced that its Board of Directors has approved a stock buyback program on Friday, March 7th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the auto parts company to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is 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 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 on Monday, March 3rd. The shares were bought at an average cost of $79.43 per share, for a total transaction of $200,957.90. Following the completion of the acquisition, the director now owns 7,277 shares in the company, valued at approximately $578,012.11. This trade represents a 53.30 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company 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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