Modine Manufacturing (NYSE:MOD) Stake Reduced by US Bancorp DE

US Bancorp DE lowered its stake in Modine Manufacturing (NYSE:MOD) by 33.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,269 shares of the auto parts company’s stock after selling 1,649 shares during the quarter. US Bancorp DE’s holdings in Modine Manufacturing were worth $379,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Principal Securities Inc. grew its stake in shares of Modine Manufacturing by 97.8% in the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock valued at $63,000 after buying an additional 269 shares in the last quarter. Private Trust Co. NA lifted its holdings in shares of Modine Manufacturing by 650.5% during the third quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock worth $103,000 after buying an additional 670 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of 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 worth $157,000 after buying an additional 82 shares during the last quarter. KBC Group NV increased its position in shares of Modine Manufacturing by 47.8% during the third quarter. KBC Group NV now owns 1,456 shares of the auto parts company’s stock valued at $193,000 after purchasing an additional 471 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new position in Modine Manufacturing in the third quarter worth $196,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Down 2.9 %

Shares of MOD stock opened at $81.92 on Friday. The stock has a market cap of $4.31 billion, a P/E ratio of 27.49, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48. Modine Manufacturing has a one year low of $72.49 and a one year high of $146.84. The stock has a fifty day moving average price of $102.29 and a 200 day moving average price of $117.16. 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 released its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. Analysts predict that Modine Manufacturing will post 3.88 earnings per share for the current year.

Modine Manufacturing declared that its Board of Directors has initiated a share buyback program 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 buy up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, Director William A. Wulfsohn purchased 2,530 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price of $79.43 per share, for a total transaction of $200,957.90. Following the completion of the acquisition, the director now directly owns 7,277 shares in the company, valued at approximately $578,012.11. The trade was a 53.30 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.40% of the stock is currently owned by corporate 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.