Modine Manufacturing (NYSE:MOD) Stock Holdings Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its holdings in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 14.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 164,198 shares of the auto parts company's stock after selling 27,116 shares during the period. Thrivent Financial for Lutherans owned 0.31% of Modine Manufacturing worth $19,036,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MOD. Natixis Advisors LLC bought a new position in Modine Manufacturing in the third quarter worth about $1,855,000. Pathstone Holdings LLC boosted its position in Modine Manufacturing by 48.2% during the 3rd quarter. Pathstone Holdings LLC now owns 10,421 shares of the auto parts company's stock valued at $1,384,000 after purchasing an additional 3,391 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Modine Manufacturing during the 3rd quarter valued at approximately $1,311,000. Intech Investment Management LLC bought a new position in Modine Manufacturing during the 3rd quarter worth $2,260,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Modine Manufacturing by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 604,271 shares of the auto parts company's stock valued at $80,241,000 after buying an additional 6,871 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, DA Davidson reaffirmed a "buy" rating and issued a $155.00 price objective on shares of Modine Manufacturing in a report on Monday, March 17th.

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Insider Activity at Modine Manufacturing

In other news, Director William A. Wulfsohn purchased 2,530 shares of the firm's stock in a transaction on 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 purchase, the director now owns 7,277 shares in the company, valued at $578,012.11. This trade represents a 53.30 % increase in their position. The transaction 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 Stock Performance

Shares of MOD traded down $6.55 during trading hours on Wednesday, reaching $86.68. 1,075,695 shares of the company's stock traded hands, compared to its average volume of 885,048. Modine Manufacturing has a twelve month low of $72.49 and a twelve month high of $146.84. The business's fifty day simple moving average is $96.99 and its two-hundred day simple moving average is $115.87. 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 capitalization of $4.56 billion, a price-to-earnings ratio of 29.09, a P/E/G ratio of 0.71 and a beta of 2.48.

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 net margin of 6.31% and a return on equity of 24.25%. Analysts predict that Modine Manufacturing will post 3.88 earnings per share for the current year.

Modine Manufacturing declared that its Board of Directors has authorized a stock buyback 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 reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

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.