Skandinaviska Enskilda Banken AB publ Acquires 193 Shares of Modine Manufacturing (NYSE:MOD)

Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Modine Manufacturing (NYSE:MOD) by 567.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 227 shares of the auto parts company’s stock after purchasing an additional 193 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Modine Manufacturing were worth $27,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Securities Inc. raised its stake in Modine Manufacturing by 97.8% during the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock valued at $63,000 after purchasing an additional 269 shares during the period. Private Trust Co. NA grew its holdings in Modine Manufacturing by 650.5% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock valued at $103,000 after buying an additional 670 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Modine Manufacturing by 6.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock valued at $157,000 after buying an additional 82 shares in the last quarter. KBC Group NV grew its holdings in Modine Manufacturing by 47.8% during the 3rd quarter. KBC Group NV now owns 1,456 shares of the auto parts company’s stock valued at $193,000 after buying an additional 471 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in Modine Manufacturing during the 3rd quarter valued at approximately $196,000. Institutional investors own 95.23% of the company’s stock.

Insider Transactions at Modine Manufacturing

In related news, Director William A. Wulfsohn bought 2,530 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $79.43 per share, for a total transaction of $200,957.90. Following the acquisition, the director now owns 7,277 shares in the company, valued at $578,012.11. This trade represents a 53.30 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.40% of the company’s stock.

Modine Manufacturing Price Performance

Shares of Modine Manufacturing stock opened at $83.09 on Wednesday. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 27.88, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48. 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 stock has a 50 day moving average price of $100.07 and a 200-day moving average price of $116.48. Modine Manufacturing has a one year low of $72.49 and a one year high of $146.84.

Modine Manufacturing (NYSE:MOD) last announced 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%. Equities analysts expect that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing declared that its board has initiated a share buyback plan on Friday, March 7th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the auto parts company to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Separately, DA Davidson restated a “buy” rating and set a $155.00 price target on shares of Modine Manufacturing in a report on Monday.

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.