Modine Manufacturing (NYSE:MOD) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its holdings in Modine Manufacturing (NYSE:MOD) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 427,687 shares of the auto parts company’s stock after selling 17,813 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Modine Manufacturing were worth $49,582,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Modine Manufacturing by 567.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company’s stock valued at $27,000 after buying an additional 193 shares during the period. Principal Securities Inc. boosted its position in Modine Manufacturing by 97.8% in the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock worth $63,000 after purchasing an additional 269 shares in the last quarter. Private Trust Co. NA increased its holdings in shares of 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 purchasing an additional 670 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Modine Manufacturing by 6.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock valued at $157,000 after purchasing an additional 82 shares during the period. Finally, Rothschild Investment LLC boosted its holdings in Modine Manufacturing by 34.4% during the fourth quarter. Rothschild Investment LLC now owns 1,720 shares of the auto parts company’s stock worth $199,000 after buying an additional 440 shares in the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Down 1.1 %

Modine Manufacturing stock opened at $79.12 on Friday. 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 capitalization of $4.16 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48. The business has a 50 day simple moving average of $93.98 and a 200-day simple moving average of $115.43. Modine Manufacturing has a 12 month low of $72.49 and a 12 month high of $146.84.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 EPS 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%. On average, analysts anticipate that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing announced that its Board of Directors has initiated a share buyback program 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 purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Director William A. Wulfsohn acquired 2,530 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost 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 approximately $578,012.11. This represents a 53.30 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.40% of the company’s stock.

Analyst Ratings Changes

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

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.