Signaturefd LLC Grows Stake in Modine Manufacturing (NYSE:MOD)

Signaturefd LLC increased its holdings in shares of Modine Manufacturing (NYSE:MOD) by 6.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,786 shares of the auto parts company’s stock after purchasing an additional 157 shares during the quarter. Signaturefd LLC’s holdings in Modine Manufacturing were worth $323,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wasatch Advisors LP purchased a new stake in shares of Modine Manufacturing during the 3rd quarter worth approximately $91,193,000. FMR LLC raised its stake in Modine Manufacturing by 14.0% during the 3rd quarter. FMR LLC now owns 4,417,927 shares of the auto parts company’s stock worth $586,657,000 after acquiring an additional 543,419 shares in the last quarter. Summit Partners Public Asset Management LLC purchased a new stake in Modine Manufacturing in the third quarter valued at $31,961,000. Raymond James Financial Inc. acquired a new position in Modine Manufacturing in the fourth quarter valued at $19,719,000. Finally, Eagle Asset Management Inc. purchased a new position in shares of Modine Manufacturing during the third quarter worth about $9,379,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Stock Up 1.0 %

Shares of NYSE:MOD opened at $88.68 on Friday. Modine Manufacturing has a 1-year low of $72.49 and a 1-year high of $146.84. 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 stock has a market cap of $4.66 billion, a P/E ratio of 29.76, a P/E/G ratio of 0.71 and a beta of 2.48. The firm has a fifty day moving average price of $98.13 and a 200 day moving average price of $115.86.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share for the quarter, topping 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%. Sell-side analysts predict that Modine Manufacturing will post 3.88 EPS for the current year.

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

Wall Street Analysts Forecast Growth

Separately, DA Davidson reissued a “buy” rating and issued a $155.00 target price on shares of Modine Manufacturing in a research report on Monday, March 17th.

Insiders Place Their Bets

In other news, Director William A. Wulfsohn acquired 2,530 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $79.43 per share, for a total transaction of $200,957.90. Following the transaction, 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 purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.40% of the stock is 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.