Modine Manufacturing (NYSE:MOD) Shares Bought by Sei Investments Co.

Sei Investments Co. boosted its holdings in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 32.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 189,834 shares of the auto parts company's stock after purchasing an additional 46,668 shares during the quarter. Sei Investments Co. owned approximately 0.36% of Modine Manufacturing worth $22,008,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in MOD. FMR LLC increased its stake in shares of Modine Manufacturing by 14.0% in the third quarter. FMR LLC now owns 4,417,927 shares of the auto parts company's stock worth $586,657,000 after buying an additional 543,419 shares during the last quarter. State Street Corp increased its position in shares of 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 worth $161,993,000 after purchasing an additional 18,108 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Modine Manufacturing by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,170,958 shares of the auto parts company's stock valued at $155,522,000 after purchasing an additional 9,648 shares in the last quarter. Principal Financial Group Inc. lifted its position 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 purchasing an additional 26,527 shares during the last quarter. Finally, Wasatch Advisors LP acquired a new position in Modine Manufacturing in the third quarter worth about $91,193,000. 95.23% of the stock is owned by institutional investors and hedge funds.

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Modine Manufacturing Stock Performance

Shares of NYSE:MOD traded down $0.84 on Friday, reaching $79.12. 1,764,534 shares of the company's stock were exchanged, compared to its average volume of 910,515. The business's 50-day moving average is $93.98 and its two-hundred day moving average is $115.48. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. Modine Manufacturing has a fifty-two week low of $72.49 and a fifty-two week high of $146.84. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 0.71 and a beta of 2.48.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share 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, equities research analysts forecast that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing declared that its Board of Directors has initiated a stock repurchase plan on Friday, March 7th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the auto parts company to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

Insider Transactions at Modine Manufacturing

In related news, Director William A. Wulfsohn acquired 2,530 shares of Modine Manufacturing stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average price of $79.43 per share, for a total transaction of $200,957.90. Following the transaction, the director now directly owns 7,277 shares of the company's stock, valued at $578,012.11. This trade represents a 53.30 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.40% of the company's stock.

Analysts Set New Price Targets

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

Modine Manufacturing Company 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.