Modine Manufacturing (NYSE:MOD) Shares Bought by Truvestments Capital LLC

Truvestments Capital LLC boosted its position in Modine Manufacturing (NYSE:MOD) by 20.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,386 shares of the auto parts company’s stock after purchasing an additional 1,423 shares during the quarter. Truvestments Capital LLC’s holdings in Modine Manufacturing were worth $972,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MOD. Wasatch Advisors LP bought a new stake in shares of Modine Manufacturing in the 3rd quarter worth approximately $91,193,000. FMR LLC raised its holdings in shares of Modine Manufacturing by 14.0% in the 3rd quarter. FMR LLC now owns 4,417,927 shares of the auto parts company’s stock worth $586,657,000 after purchasing an additional 543,419 shares in the last quarter. Summit Partners Public Asset Management LLC bought a new stake in shares of Modine Manufacturing in the 3rd quarter worth approximately $31,961,000. Raymond James Financial Inc. bought a new stake in shares of Modine Manufacturing in the 4th quarter worth approximately $19,719,000. Finally, Eagle Asset Management Inc. bought a new stake in shares of Modine Manufacturing in the 3rd quarter worth approximately $9,379,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Stock Up 3.8 %

MOD stock opened at $80.23 on Wednesday. Modine Manufacturing has a 52-week low of $72.49 and a 52-week high of $146.84. The company’s 50 day simple moving average is $103.61 and its 200-day simple moving average is $117.63. 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 $4.22 billion, a P/E ratio of 26.92, a P/E/G ratio of 0.71 and a beta of 2.48.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (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, equities research analysts anticipate that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing announced that its board has approved a stock buyback program on Friday, March 7th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the auto parts company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Modine Manufacturing

In related news, Director William A. Wulfsohn acquired 2,530 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 7,277 shares of the company’s stock, valued at approximately $578,012.11. This trade represents a 53.30 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through 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.