Modine Manufacturing (NYSE:MOD) Shares Sold by Riverwater Partners LLC

Riverwater Partners LLC reduced its position in Modine Manufacturing (NYSE:MOD - Free Report) by 38.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,903 shares of the auto parts company's stock after selling 10,755 shares during the quarter. Modine Manufacturing makes up about 1.0% of Riverwater Partners LLC's investment portfolio, making the stock its 25th biggest holding. Riverwater Partners LLC's holdings in Modine Manufacturing were worth $1,960,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MOD. William Blair Investment Management LLC increased its holdings in shares of Modine Manufacturing by 7.7% in the 4th quarter. William Blair Investment Management LLC now owns 247,400 shares of the auto parts company's stock valued at $28,681,000 after acquiring an additional 17,599 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Modine Manufacturing during the fourth quarter worth $452,000. New York State Common Retirement Fund lifted its position in shares of Modine Manufacturing by 9.9% in the 4th quarter. New York State Common Retirement Fund now owns 247,975 shares of the auto parts company's stock worth $28,748,000 after buying an additional 22,259 shares during the last quarter. Legend Financial Advisors Inc. boosted its holdings in shares of Modine Manufacturing by 2.9% in the 4th quarter. Legend Financial Advisors Inc. now owns 9,929 shares of the auto parts company's stock valued at $1,151,000 after buying an additional 279 shares during the period. Finally, Peregrine Capital Management LLC grew its position in shares of Modine Manufacturing by 10.9% during the 4th quarter. Peregrine Capital Management LLC now owns 100,949 shares of the auto parts company's stock valued at $11,703,000 after buying an additional 9,920 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 restated a "buy" rating and issued a $155.00 target price on shares of Modine Manufacturing in a research note on Monday, March 17th.

Modine Manufacturing Stock Performance

Shares of MOD stock traded down $7.14 during trading hours on Thursday, reaching $76.42. The stock had a trading volume of 633,647 shares, compared to its average volume of 932,766. 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 firm has a 50-day simple moving average of $85.70 and a 200-day simple moving average of $112.62. The firm has a market capitalization of $4.02 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 0.71 and a beta of 2.19. Modine Manufacturing has a twelve month low of $64.79 and a twelve month 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, 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%. As a group, equities 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 permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the auto parts company to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at Modine Manufacturing

In related news, Director William A. Wulfsohn bought 2,530 shares of the stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $79.43 per share, with a total value of $200,957.90. Following the purchase, the director now owns 7,277 shares in the company, valued at approximately $578,012.11. This represents a 53.30 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through 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.