Thrivent Financial for Lutherans trimmed its stake in Modine Manufacturing (NYSE:MOD - Free Report) by 14.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,198 shares of the auto parts company's stock after selling 27,116 shares during the period. Thrivent Financial for Lutherans owned about 0.31% of Modine Manufacturing worth $19,036,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the stock. William Blair Investment Management LLC raised its position in Modine Manufacturing by 7.7% in the fourth quarter. William Blair Investment Management LLC now owns 247,400 shares of the auto parts company's stock worth $28,681,000 after purchasing an additional 17,599 shares in the last quarter. Entropy Technologies LP acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at $452,000. New York State Common Retirement Fund increased its position in shares of Modine Manufacturing by 9.9% during 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 purchasing an additional 22,259 shares in the last quarter. Legend Financial Advisors Inc. lifted its holdings in Modine Manufacturing by 2.9% during 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 purchasing an additional 279 shares during the last quarter. Finally, Peregrine Capital Management LLC increased its holdings in shares of Modine Manufacturing by 10.9% during the fourth quarter. Peregrine Capital Management LLC now owns 100,949 shares of the auto parts company's stock worth $11,703,000 after buying an additional 9,920 shares in the last quarter. Institutional investors own 95.23% of the company's stock.
Wall Street Analyst Weigh In
Separately, DA Davidson restated a "buy" rating and set a $155.00 price target on shares of Modine Manufacturing in a research report on Monday, March 17th.
Check Out Our Latest Analysis on MOD
Modine Manufacturing Price Performance
Shares of MOD stock traded up $0.71 during trading hours on Tuesday, reaching $93.53. 1,208,375 shares of the company were exchanged, compared to its average volume of 883,423. 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 company has a market cap of $4.92 billion, a price-to-earnings ratio of 31.39, a P/E/G ratio of 0.71 and a beta of 2.48. The stock's fifty day moving average is $96.99 and its two-hundred day moving average is $115.87. Modine Manufacturing has a fifty-two week low of $72.49 and a fifty-two week 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, beating 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%. Sell-side analysts forecast that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.
Modine Manufacturing declared that its board has authorized a stock repurchase 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 reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.
Insider Activity
In related news, Director William A. Wulfsohn acquired 2,530 shares of the company's 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 completion of the acquisition, the director now 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 purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.40% of the company's stock.
About Modine Manufacturing
(
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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