Modine Manufacturing (NYSE:MOD) Shares Bought by Algert Global LLC

Algert Global LLC raised its holdings in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 79.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,957 shares of the auto parts company's stock after buying an additional 8,847 shares during the quarter. Algert Global LLC's holdings in Modine Manufacturing were worth $2,314,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Barclays PLC lifted its stake in Modine Manufacturing by 272.4% in the 3rd quarter. Barclays PLC now owns 92,235 shares of the auto parts company's stock worth $12,247,000 after purchasing an additional 67,465 shares in the last quarter. Franklin Resources Inc. lifted its position in Modine Manufacturing by 33.2% during the third quarter. Franklin Resources Inc. now owns 266,731 shares of the auto parts company's stock worth $35,550,000 after buying an additional 66,484 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Modine Manufacturing by 2.4% during the third quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company's stock worth $153,072,000 after buying an additional 26,527 shares during the last quarter. West Oak Capital LLC grew its holdings in Modine Manufacturing by 298.3% in the 4th quarter. West Oak Capital LLC now owns 2,390 shares of the auto parts company's stock valued at $277,000 after buying an additional 1,790 shares in the last quarter. Finally, Sovereign Financial Group Inc. increased its stake in shares of Modine Manufacturing by 18.1% in the 4th quarter. Sovereign Financial Group Inc. now owns 2,367 shares of the auto parts company's stock worth $274,000 after acquiring an additional 363 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, Director William A. Wulfsohn bought 2,530 shares of the business's stock in a transaction dated 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 transaction, the director now owns 7,277 shares of the company's stock, valued at approximately $578,012.11. This trade represents a 53.30 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.40% of the stock is owned by company insiders.

Modine Manufacturing Stock Up 1.8 %

NYSE MOD traded up $1.65 during trading hours on Friday, hitting $94.84. 777,588 shares of the company were exchanged, compared to its average volume of 950,291. Modine Manufacturing has a 52-week low of $64.79 and a 52-week high of $146.84. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 0.71 and a beta of 2.08. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average of $81.54 and a two-hundred day moving average of $104.92.

Modine Manufacturing announced that its Board of Directors has approved a share repurchase plan on Friday, March 7th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the auto parts company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board 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.