Vanguard Group Inc. Raises Holdings in Modine Manufacturing (NYSE:MOD)

Vanguard Group Inc. lifted its position in shares of Modine Manufacturing (NYSE:MOD) by 1.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,058,967 shares of the auto parts company’s stock after acquiring an additional 70,581 shares during the quarter. Vanguard Group Inc. owned approximately 0.10% of Modine Manufacturing worth $586,486,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its holdings 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 purchasing an additional 82 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Modine Manufacturing by 0.8% during the 4th quarter. Arizona State Retirement System now owns 14,451 shares of the auto parts company’s stock valued at $1,675,000 after buying an additional 118 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Modine Manufacturing by 8.2% in the 4th 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. Signaturefd LLC grew its stake in Modine Manufacturing by 6.0% in the 4th quarter. Signaturefd LLC now owns 2,786 shares of the auto parts company’s stock valued at $323,000 after buying an additional 157 shares in the last quarter. Finally, Truist Financial Corp raised its holdings in Modine Manufacturing by 0.5% during the 4th quarter. Truist Financial Corp now owns 34,267 shares of the auto parts company’s stock valued at $3,973,000 after acquiring an additional 159 shares during the period. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

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 completion of the transaction, the director now owns 7,277 shares in the company, valued at approximately $578,012.11. This trade represents a 53.30 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is currently owned by company insiders.

Modine Manufacturing Trading Down 3.1 %

Shares of Modine Manufacturing stock opened at $76.83 on Tuesday. The company’s 50-day moving average price is $92.86 and its 200-day moving average price is $115.24. The company has a current ratio of 1.87, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. Modine Manufacturing has a 12-month low of $72.49 and a 12-month high of $146.84. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 0.71 and a beta of 2.48.

Modine Manufacturing (NYSE:MOD) last posted its earnings results 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 net margin of 6.31% and a return on equity of 24.25%. On average, equities analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing declared that its board has approved a share buyback program on Friday, March 7th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the auto parts company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Modine Manufacturing 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.