Barclays PLC Increases Holdings in Modine Manufacturing (NYSE:MOD)

Barclays PLC raised its holdings in Modine Manufacturing (NYSE:MOD - Free Report) by 9.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 100,769 shares of the auto parts company's stock after buying an additional 8,534 shares during the quarter. Barclays PLC owned about 0.19% of Modine Manufacturing worth $11,682,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Summit Investment Advisors Inc. lifted its stake in Modine Manufacturing by 2.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,284 shares of the auto parts company's stock worth $613,000 after acquiring an additional 146 shares during the period. Grandeur Peak Global Advisors LLC lifted its position in shares of Modine Manufacturing by 39.4% in the 4th quarter. Grandeur Peak Global Advisors LLC now owns 42,819 shares of the auto parts company's stock worth $4,964,000 after purchasing an additional 12,096 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Modine Manufacturing during the 4th quarter valued at about $19,719,000. Invesco Ltd. increased its position in shares of Modine Manufacturing by 1.0% during the fourth quarter. Invesco Ltd. now owns 2,012,533 shares of the auto parts company's stock valued at $233,313,000 after buying an additional 20,085 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in Modine Manufacturing by 3.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 50,834 shares of the auto parts company's stock worth $5,893,000 after buying an additional 1,852 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director William A. Wulfsohn bought 2,530 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $79.43 per share, with a total value of $200,957.90. Following the completion of the acquisition, the director now owns 7,277 shares of the company's stock, valued at approximately $578,012.11. This represents a 53.30 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.40% of the company's stock.

Analyst Upgrades and Downgrades

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

Modine Manufacturing Stock Up 2.7 %

Shares of MOD stock traded up $2.15 during mid-day trading on Friday, reaching $81.24. 926,422 shares of the company's stock traded hands, compared to its average volume of 943,802. 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's 50-day moving average price is $80.78 and its 200-day moving average price is $108.13. The company has a market cap of $4.27 billion, a P/E ratio of 27.26, a P/E/G 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.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 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 announced that its Board of Directors has initiated a share repurchase 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 reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its stock is 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.