Modine Manufacturing (NYSE:MOD) Director Acquires $200,957.90 in Stock

Modine Manufacturing (NYSE:MOD) Director William A. Wulfsohn bought 2,530 shares of Modine Manufacturing stock in a transaction on Monday, March 3rd. The shares were 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 in the company, valued at $578,012.11. This represents a 53.30 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Modine Manufacturing Price Performance

Modine Manufacturing stock opened at $81.09 on Friday. The firm has a market cap of $4.26 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48. Modine Manufacturing has a 52-week low of $72.49 and a 52-week high of $146.84. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. The company’s 50 day moving average is $105.13 and its two-hundred day moving average is $118.05.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts expect that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing announced that its Board of Directors has authorized a share buyback plan on Friday, March 7th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the auto parts company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Modine Manufacturing

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at $12,674,000. Jefferies Financial Group Inc. acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at $2,290,000. Invst LLC raised its holdings in shares of Modine Manufacturing by 4.1% in the 4th quarter. Invst LLC now owns 8,583 shares of the auto parts company’s stock valued at $995,000 after purchasing an additional 338 shares in the last quarter. Palisades Investment Partners LLC raised its holdings in shares of Modine Manufacturing by 10.6% in the 4th quarter. Palisades Investment Partners LLC now owns 112,147 shares of the auto parts company’s stock valued at $13,001,000 after purchasing an additional 10,775 shares in the last quarter. Finally, Castleark Management LLC raised its holdings in shares of Modine Manufacturing by 9.0% in the 4th quarter. Castleark Management LLC now owns 72,550 shares of the auto parts company’s stock valued at $8,411,000 after purchasing an additional 6,010 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

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.