Blair William & Co. IL Invests $3.46 Million in Modine Manufacturing (NYSE:MOD)

Blair William & Co. IL purchased a new stake in shares of Modine Manufacturing (NYSE:MOD) in the fourth quarter, Holdings Channel reports. The firm purchased 29,839 shares of the auto parts company’s stock, valued at approximately $3,459,000.

A number of other hedge funds have also bought and sold shares of the business. Nisa Investment Advisors LLC grew its stake in 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. Arizona State Retirement System boosted its holdings in shares of Modine Manufacturing by 0.8% in the 4th quarter. Arizona State Retirement System now owns 14,451 shares of the auto parts company’s stock worth $1,675,000 after buying an additional 118 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Modine Manufacturing by 8.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company’s stock valued at $208,000 after buying an additional 136 shares during the period. Signaturefd LLC increased its holdings in Modine Manufacturing by 6.0% during the fourth quarter. Signaturefd LLC now owns 2,786 shares of the auto parts company’s stock worth $323,000 after buying an additional 157 shares during the last quarter. Finally, Truist Financial Corp raised its position in Modine Manufacturing by 0.5% in the fourth quarter. Truist Financial Corp now owns 34,267 shares of the auto parts company’s stock worth $3,973,000 after acquiring an additional 159 shares during the period. 95.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director William A. Wulfsohn acquired 2,530 shares of the firm’s 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 purchase, the director now owns 7,277 shares in the company, valued at $578,012.11. This trade represents a 53.30 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

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

Modine Manufacturing Trading Down 3.1 %

Shares of MOD opened at $76.83 on Tuesday. Modine Manufacturing has a fifty-two week low of $72.49 and a fifty-two week high of $146.84. The business has a 50-day moving average of $92.86 and a 200 day moving average of $115.24. The firm has a market cap of $4.04 billion, a P/E ratio of 25.78, 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.

Modine Manufacturing (NYSE:MOD) last posted 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%. As a group, research analysts forecast that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing announced that its Board of Directors has authorized a stock buyback plan on Friday, March 7th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to purchase up to 2.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

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.