Wasatch Advisors LP Increases Stock Position in Modine Manufacturing (NYSE:MOD)

Wasatch Advisors LP grew its holdings in shares of Modine Manufacturing (NYSE:MOD) by 108.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,428,415 shares of the auto parts company’s stock after buying an additional 741,667 shares during the period. Wasatch Advisors LP’s holdings in Modine Manufacturing were worth $165,596,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. William Blair Investment Management LLC boosted its holdings in Modine Manufacturing by 7.7% during the fourth quarter. William Blair Investment Management LLC now owns 247,400 shares of the auto parts company’s stock worth $28,681,000 after buying an additional 17,599 shares in the last quarter. Entropy Technologies LP acquired a new stake in shares of Modine Manufacturing during the 4th quarter valued at approximately $452,000. New York State Common Retirement Fund boosted its stake in shares of Modine Manufacturing by 9.9% during the 4th quarter. New York State Common Retirement Fund now owns 247,975 shares of the auto parts company’s stock worth $28,748,000 after acquiring an additional 22,259 shares in the last quarter. Legend Financial Advisors Inc. grew its holdings in shares of Modine Manufacturing by 2.9% in the 4th quarter. Legend Financial Advisors Inc. now owns 9,929 shares of the auto parts company’s stock worth $1,151,000 after acquiring an additional 279 shares during the period. Finally, Peregrine Capital Management LLC increased its stake in Modine Manufacturing by 10.9% in the 4th quarter. Peregrine Capital Management LLC now owns 100,949 shares of the auto parts company’s stock valued at $11,703,000 after purchasing an additional 9,920 shares in the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Modine Manufacturing news, Director William A. Wulfsohn purchased 2,530 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was 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 of the company’s stock, valued at approximately $578,012.11. The trade was a 53.30 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 2.40% of the stock is owned by corporate insiders.

Modine Manufacturing Stock Down 0.8 %

Shares of NYSE MOD opened at $76.81 on Wednesday. The firm’s 50-day moving average is $83.90 and its two-hundred day moving average is $111.08. The company has a market capitalization of $4.04 billion, a PE ratio of 25.78, a price-to-earnings-growth ratio of 0.71 and a beta of 2.19. Modine Manufacturing has a 12-month low of $64.79 and a 12-month 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.

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

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

Analysts Set New Price Targets

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

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.