Vanguard Group Inc. Purchases 70,581 Shares of Modine Manufacturing (NYSE:MOD)

Vanguard Group Inc. lifted its stake in Modine Manufacturing (NYSE:MOD - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,058,967 shares of the auto parts company's stock after purchasing an additional 70,581 shares during the period. Vanguard Group Inc. owned 9.62% of Modine Manufacturing worth $586,486,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of MOD. State Street Corp lifted its holdings in Modine Manufacturing by 1.5% in the third quarter. State Street Corp now owns 1,219,916 shares of the auto parts company's stock worth $161,993,000 after buying an additional 18,108 shares during the period. Geode Capital Management LLC lifted 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 during the period. Principal Financial Group Inc. boosted 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 valued at $153,072,000 after purchasing an additional 26,527 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Modine Manufacturing by 20.0% during the fourth quarter. American Century Companies Inc. now owns 289,734 shares of the auto parts company's stock valued at $33,589,000 after purchasing an additional 48,278 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Modine Manufacturing by 33.2% in the third quarter. Franklin Resources Inc. now owns 266,731 shares of the auto parts company's stock worth $35,550,000 after purchasing an additional 66,484 shares during the period. Institutional investors own 95.23% of the company's stock.

Remove Ads

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, Director William A. Wulfsohn purchased 2,530 shares of the stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $79.43 per share, with a total value of $200,957.90. Following the completion of the acquisition, the director now directly 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 accessible through this hyperlink. 2.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Modine Manufacturing Stock Down 3.2 %

Shares of MOD traded down $2.32 during mid-day trading on Friday, reaching $70.29. The company had a trading volume of 2,257,866 shares, compared to its average volume of 920,720. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.87. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 0.71 and a beta of 2.19. The firm has a 50-day moving average price of $87.93 and a 200 day moving average price of $114.22. Modine Manufacturing has a 52 week low of $64.79 and a 52 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, topping analysts' consensus estimates of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. On average, sell-side analysts forecast that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing announced that its Board of Directors has initiated a share repurchase plan on Friday, March 7th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are generally an indication 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.