Castleark Management LLC Increases Position in Modine Manufacturing (NYSE:MOD)

Castleark Management LLC raised its holdings in Modine Manufacturing (NYSE:MOD - Free Report) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 72,550 shares of the auto parts company's stock after buying an additional 6,010 shares during the quarter. Castleark Management LLC owned about 0.14% of Modine Manufacturing worth $8,411,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its stake in Modine Manufacturing by 6.5% in the fourth 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. Arizona State Retirement System boosted its holdings 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 in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of 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 worth $208,000 after buying an additional 136 shares during the period. Summit Investment Advisors Inc. grew its position in shares of Modine Manufacturing by 2.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,284 shares of the auto parts company's stock worth $613,000 after buying an additional 146 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Modine Manufacturing by 6.0% in the 4th quarter. Signaturefd LLC now owns 2,786 shares of the auto parts company's stock worth $323,000 after acquiring an additional 157 shares in the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Down 0.2%

Modine Manufacturing stock traded down $0.22 during mid-day trading on Monday, reaching $90.13. The stock had a trading volume of 1,132,224 shares, compared to its average volume of 952,459. Modine Manufacturing has a one year low of $64.79 and a one year high of $146.84. The company has a 50-day moving average price of $85.23 and a two-hundred day moving average price of $103.29. The company has a market capitalization of $4.72 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 0.71 and a beta of 2.08. 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 earnings results on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.16. Modine Manufacturing had a net margin of 6.31% and a return on equity of 24.25%. The firm had revenue of $647.20 million for the quarter, compared to the consensus estimate of $633.13 million. During the same quarter in the prior year, the firm posted $0.77 earnings per share. The business's revenue was up 7.2% on a year-over-year basis. On average, analysts expect that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing announced that its Board of Directors has initiated a stock repurchase plan 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 reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, Director William A. Wulfsohn purchased 2,530 shares of the business's stock in a transaction on 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 approximately $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 is available through this link. Corporate insiders own 2.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MOD shares. DA Davidson reissued a "buy" rating and set a $155.00 price objective on shares of Modine Manufacturing in a research note on Monday, March 17th. 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.

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.