Schroder Investment Management Group Grows Stock Holdings in Modine Manufacturing (NYSE:MOD)

Schroder Investment Management Group grew its stake in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 327.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,741 shares of the auto parts company's stock after buying an additional 12,827 shares during the period. Schroder Investment Management Group's holdings in Modine Manufacturing were worth $1,969,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Modine Manufacturing by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 5,058,967 shares of the auto parts company's stock valued at $586,486,000 after acquiring an additional 70,581 shares during the last quarter. State Street Corp lifted its holdings in Modine Manufacturing by 1.5% in the 3rd quarter. State Street Corp now owns 1,219,916 shares of the auto parts company's stock valued at $161,993,000 after purchasing an additional 18,108 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Modine Manufacturing by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,170,958 shares of the auto parts company's stock worth $155,522,000 after purchasing an additional 9,648 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Modine Manufacturing by 2.4% during the third quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company's stock worth $153,072,000 after buying an additional 26,527 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its position in shares of Modine Manufacturing by 22.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 575,223 shares of the auto parts company's stock valued at $66,686,000 after buying an additional 106,033 shares during the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

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

Modine Manufacturing Trading Down 0.6 %

NYSE MOD traded down $0.47 during trading hours on Friday, hitting $76.90. 1,271,884 shares of the company's stock were exchanged, compared to its average volume of 937,658. The business's 50 day moving average is $84.89 and its 200-day moving average is $111.83. 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 has a 12-month low of $64.79 and a 12-month high of $146.84. The firm has a market capitalization of $4.04 billion, a P/E ratio of 25.80, a price-to-earnings-growth ratio of 0.71 and a beta of 2.19.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 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%. As a group, analysts anticipate 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 program on Friday, March 7th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the auto parts company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director William A. Wulfsohn acquired 2,530 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of $79.43 per share, for a total transaction of $200,957.90. Following the acquisition, the director now directly owns 7,277 shares in the company, valued at approximately $578,012.11. This represents a 53.30 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 2.40% of the stock is currently owned by insiders.

About Modine Manufacturing

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.