By otakuyassine3@gmail.com 
Orion Portfolio Solutions LLC lowered its position in Modine Manufacturing (NYSE:MOD – Free Report) by 33.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,509 shares of the auto parts company’s stock after selling 3,857 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Modine Manufacturing were worth $871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ boosted its stake 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 purchasing an additional 193 shares in the last quarter. Principal Securities Inc. lifted its stake in Modine Manufacturing by 97.8% in the fourth quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock worth $63,000 after purchasing an additional 269 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Modine Manufacturing by 6.5% during the fourth 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 during the period. Rothschild Investment LLC increased its holdings in shares of Modine Manufacturing by 34.4% in 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 during the period. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Modine Manufacturing by 8.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company’s stock worth $208,000 after buying an additional 136 shares during the period. 95.23% of the stock is currently owned by institutional investors.
Modine Manufacturing Price Performance
Shares of Modine Manufacturing stock opened at $70.29 on Friday. The firm has a market cap of $3.70 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 0.71 and a beta of 2.19. The company’s fifty day simple moving average is $87.93 and its two-hundred day simple moving average is $114.22. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. Modine Manufacturing has a 12-month low of $64.79 and a 12-month high of $146.84.
Modine Manufacturing (NYSE:MOD – Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts expect that Modine Manufacturing will post 3.88 EPS for the current year.
Modine Manufacturing declared that its Board of Directors has initiated a stock repurchase program on Friday, March 7th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the auto parts company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
Insider Activity at Modine Manufacturing
In related news, Director William A. Wulfsohn acquired 2,530 shares of Modine Manufacturing stock in a transaction on Monday, March 3rd. The shares were acquired at an average cost of $79.43 per share, with a total value of $200,957.90. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.40% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Separately, DA Davidson restated a “buy” rating and set a $155.00 price target on shares of Modine Manufacturing in a research report on Monday, March 17th.
View Our Latest Analysis on Modine Manufacturing
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.
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