Jefferies Financial Group Inc. Invests $2.29 Million in Modine Manufacturing (NYSE:MOD)

Jefferies Financial Group Inc. bought a new stake in shares of Modine Manufacturing (NYSE:MOD - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,750 shares of the auto parts company's stock, valued at approximately $2,290,000.

A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Modine Manufacturing by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 5,058,967 shares of the auto parts company's stock valued at $586,486,000 after acquiring an additional 70,581 shares during the period. Invesco Ltd. lifted its stake in Modine Manufacturing by 1.0% in the 4th 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 in the last quarter. Driehaus Capital Management LLC raised its holdings in Modine Manufacturing by 2.8% in the 4th quarter. Driehaus Capital Management LLC now owns 1,439,980 shares of the auto parts company's stock valued at $166,937,000 after acquiring an additional 39,193 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of Modine Manufacturing by 108.0% during the 4th quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company's stock worth $165,596,000 after buying an additional 741,667 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of Modine Manufacturing by 27.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,207,181 shares of the auto parts company's stock worth $139,949,000 after buying an additional 262,936 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company's stock.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, Director William A. Wulfsohn bought 2,530 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $79.43 per share, for a total transaction of $200,957.90. Following the transaction, the director now owns 7,277 shares in the company, valued at approximately $578,012.11. The trade was a 53.30% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MOD has been the subject of several research reports. Oppenheimer lifted their target price on shares of Modine Manufacturing from $114.00 to $121.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. 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 Down 0.8%

Shares of Modine Manufacturing stock traded down $0.74 during trading hours on Friday, hitting $90.75. 770,395 shares of the company's stock traded hands, compared to its average volume of 948,989. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. Modine Manufacturing has a twelve month low of $64.79 and a twelve month high of $146.84. The stock has a 50 day simple moving average of $85.34 and a 200-day simple moving average of $102.05. The company has a market cap of $4.75 billion, a PE ratio of 30.45, a PEG ratio of 0.71 and a beta of 2.08.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The auto parts company reported $1.12 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.16. Modine Manufacturing had a net margin of 6.31% and a return on equity of 24.25%. The business had revenue of $647.20 million for the quarter, compared to analyst estimates of $633.13 million. During the same quarter last year, the business earned $0.77 earnings per share. The business's revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts anticipate that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing declared that its Board of Directors has authorized a stock buyback plan 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 purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Modine Manufacturing Company 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.