Modine Manufacturing (NYSE:MOD) Position Reduced by Brown Advisory Inc.

Brown Advisory Inc. trimmed its position in Modine Manufacturing (NYSE:MOD - Free Report) by 13.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 560,249 shares of the auto parts company's stock after selling 84,024 shares during the quarter. Brown Advisory Inc. owned approximately 1.07% of Modine Manufacturing worth $64,950,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC increased its stake 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 grew its position 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 during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Modine Manufacturing by 8.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company's stock worth $208,000 after acquiring an additional 136 shares during the last quarter. Summit Investment Advisors Inc. boosted 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 valued at $613,000 after acquiring an additional 146 shares during the period. Finally, Signaturefd LLC raised its position in shares of Modine Manufacturing by 6.0% during the 4th quarter. Signaturefd LLC now owns 2,786 shares of the auto parts company's stock worth $323,000 after purchasing an additional 157 shares during the period. 95.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Modine Manufacturing

In other news, Director William A. Wulfsohn acquired 2,530 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of $79.43 per share, with a total value 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. This represents a 53.30 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, DA Davidson restated 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 Performance

Shares of NYSE MOD traded up $1.65 during midday trading on Friday, hitting $94.84. 777,588 shares of the company's stock were exchanged, compared to its average volume of 950,291. The stock's 50 day moving average price is $81.54 and its 200-day moving average price is $104.92. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18. The firm has a market cap of $4.99 billion, a P/E ratio of 31.83, a PEG ratio of 0.71 and a beta of 2.08. Modine Manufacturing has a twelve month low of $64.79 and a twelve month high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. Equities research analysts anticipate that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing declared that its Board of Directors has initiated a stock buyback program on Friday, March 7th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the auto parts company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors 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.