Modine Manufacturing (NYSE:MOD) Shares Purchased by Driehaus Capital Management LLC

Driehaus Capital Management LLC increased its position in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 2.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,439,980 shares of the auto parts company's stock after purchasing an additional 39,193 shares during the quarter. Modine Manufacturing makes up approximately 1.4% of Driehaus Capital Management LLC's investment portfolio, making the stock its 6th largest position. Driehaus Capital Management LLC owned about 2.74% of Modine Manufacturing worth $166,937,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MOD. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Modine Manufacturing by 567.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company's stock worth $27,000 after purchasing an additional 193 shares during the period. Principal Securities Inc. boosted its position in shares of 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 purchasing an additional 269 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of 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 period. Rothschild Investment LLC boosted its position in shares of 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 period. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of 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 period. Hedge funds and other institutional investors own 95.23% of the company's stock.

Wall Street Analyst Weigh In

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.

Insider Buying and Selling at Modine Manufacturing

In related news, Director William A. Wulfsohn acquired 2,530 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price 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 $578,012.11. This represents a 53.30% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Modine Manufacturing Trading Up 2.6%

Modine Manufacturing stock traded up $2.62 during midday trading on Tuesday, reaching $104.05. 432,585 shares of the stock traded hands, compared to its average volume of 948,638. 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 $64.79 and a 12-month high of $146.84. The firm has a market cap of $5.47 billion, a PE ratio of 34.92, a price-to-earnings-growth ratio of 0.71 and a beta of 2.08. The company has a 50-day simple moving average of $81.99 and a two-hundred day simple moving average of $104.60.

Modine Manufacturing announced that its board has initiated a stock buyback program on Friday, March 7th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the auto parts company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management 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.