Russell Investments Group Ltd. cut its holdings in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 24.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 89,739 shares of the auto parts company's stock after selling 28,430 shares during the period. Russell Investments Group Ltd. owned 0.17% of Modine Manufacturing worth $10,403,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in MOD. Nisa Investment Advisors LLC boosted its stake 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 worth $157,000 after purchasing an additional 82 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Modine Manufacturing by 0.8% during the fourth quarter. Arizona State Retirement System now owns 14,451 shares of the auto parts company's stock valued at $1,675,000 after buying an additional 118 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in 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 worth $208,000 after buying an additional 136 shares in the last quarter. Signaturefd LLC raised its position in Modine Manufacturing by 6.0% in the 4th quarter. Signaturefd LLC now owns 2,786 shares of the auto parts company's stock worth $323,000 after buying an additional 157 shares during the last quarter. Finally, Truist Financial Corp lifted its stake in Modine Manufacturing by 0.5% during the 4th quarter. Truist Financial Corp now owns 34,267 shares of the auto parts company's stock valued at $3,973,000 after acquiring an additional 159 shares during the period. 95.23% of the stock is owned by hedge funds and other institutional investors.
Modine Manufacturing Stock Performance
Shares of NYSE:MOD traded down $1.47 during trading on Wednesday, hitting $75.48. The company's stock had a trading volume of 807,726 shares, compared to its average volume of 939,504. 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 market cap of $3.97 billion, a price-to-earnings ratio of 25.33, a P/E/G ratio of 0.71 and a beta of 2.19. The company has a 50-day moving average of $83.90 and a 200-day moving average of $111.08. Modine Manufacturing has a 12 month low of $64.79 and a 12 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, beating 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 expect that Modine Manufacturing will post 3.88 earnings per share for the current year.
Modine Manufacturing declared that its board has authorized a share repurchase program on Friday, March 7th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the auto parts company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.
Insider Activity
In other news, Director William A. Wulfsohn acquired 2,530 shares of Modine Manufacturing stock in a transaction dated Monday, March 3rd. The stock was purchased at an average cost of $79.43 per share, with a total value of $200,957.90. Following the completion of the purchase, the director now directly owns 7,277 shares in the company, valued at approximately $578,012.11. This trade represents 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.
Wall Street Analysts Forecast Growth
Separately, DA Davidson reiterated a "buy" rating and issued a $155.00 price target on shares of Modine Manufacturing in a research note on Monday, March 17th.
Check Out Our Latest Stock Report on MOD
Modine Manufacturing 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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