Emerald Mutual Fund Advisers Trust Sells 29,690 Shares of Modine Manufacturing (NYSE:MOD)

Emerald Mutual Fund Advisers Trust cut its stake in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 14.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 174,708 shares of the auto parts company's stock after selling 29,690 shares during the quarter. Modine Manufacturing makes up approximately 1.2% of Emerald Mutual Fund Advisers Trust's holdings, making the stock its 23rd biggest holding. Emerald Mutual Fund Advisers Trust owned about 0.33% of Modine Manufacturing worth $20,254,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC boosted its position in Modine Manufacturing by 6.5% in 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 in the last quarter. Arizona State Retirement System raised its holdings in Modine Manufacturing by 0.8% in 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 acquiring an additional 118 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Modine Manufacturing by 8.2% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company's stock valued at $208,000 after buying an additional 136 shares in the last quarter. Summit Investment Advisors Inc. increased its position in Modine Manufacturing by 2.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,284 shares of the auto parts company's stock worth $613,000 after purchasing an additional 146 shares during the last quarter. 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 valued at $323,000 after buying an additional 157 shares during the period. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Down 0.7 %

Shares of Modine Manufacturing stock opened at $80.54 on Tuesday. Modine Manufacturing has a 1-year low of $64.79 and a 1-year high of $146.84. The company has a market capitalization of $4.23 billion, a P/E ratio of 27.03, a PEG ratio of 0.71 and a beta of 2.19. The business's fifty day moving average price is $80.62 and its two-hundred day moving average price is $107.41. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share for the quarter, beating 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%. As a group, research analysts forecast that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing declared that its Board of Directors has approved a stock buyback program on Friday, March 7th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the auto parts company to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other news, Director William A. Wulfsohn purchased 2,530 shares of Modine Manufacturing stock in a transaction on Monday, March 3rd. The stock was purchased at an average price of $79.43 per share, with a total value of $200,957.90. Following the transaction, the director now directly owns 7,277 shares in the company, valued at $578,012.11. The trade was a 53.30 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 2.40% of the company's stock.

Wall Street Analysts Forecast Growth

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

About Modine Manufacturing

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.

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