Expect Equity LLC Takes Position in Modine Manufacturing (NYSE:MOD)

Expect Equity LLC purchased a new stake in Modine Manufacturing (NYSE:MOD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,458 shares of the auto parts company's stock, valued at approximately $2,372,000. Modine Manufacturing makes up approximately 2.5% of Expect Equity LLC's portfolio, making the stock its 18th largest holding.

Several other institutional investors and hedge funds have also modified their holdings of the business. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Modine Manufacturing by 567.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company's stock worth $27,000 after acquiring an additional 193 shares during the last quarter. Principal Securities Inc. boosted its position in Modine Manufacturing by 97.8% during the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company's stock worth $63,000 after buying an additional 269 shares during the period. Nisa Investment Advisors LLC raised its holdings in Modine Manufacturing by 6.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company's stock worth $157,000 after purchasing an additional 82 shares during the last quarter. Rothschild Investment LLC raised its holdings in Modine Manufacturing by 34.4% during the 4th quarter. Rothschild Investment LLC now owns 1,720 shares of the auto parts company's stock worth $199,000 after purchasing an additional 440 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in Modine Manufacturing by 8.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company's stock worth $208,000 after purchasing an additional 136 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director William A. Wulfsohn acquired 2,530 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were acquired 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 of the company's stock, valued at approximately $578,012.11. The trade was a 53.30% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Modine Manufacturing Stock Up 3.2%

MOD traded up $3.23 during mid-day trading on Tuesday, reaching $104.66. 1,024,779 shares of the stock were exchanged, compared to its average volume of 950,918. The company has a 50 day moving average price of $81.99 and a two-hundred day moving average price of $104.60. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.87. The stock has a market capitalization of $5.50 billion, a PE ratio of 35.12, a price-to-earnings-growth ratio of 0.71 and a beta of 2.08. Modine Manufacturing has a 1 year low of $64.79 and a 1 year high of $146.84.

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.

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.