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

Castleark Management LLC grew its stake in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 9.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 72,550 shares of the auto parts company's stock after acquiring an additional 6,010 shares during the period. Castleark Management LLC owned about 0.14% of Modine Manufacturing worth $8,411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ raised its position in shares of Modine Manufacturing by 567.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company's stock valued at $27,000 after buying an additional 193 shares during the last quarter. Principal Securities Inc. lifted its stake in Modine Manufacturing by 97.8% in 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 in the last quarter. Nisa Investment Advisors LLC lifted its stake 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. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Modine Manufacturing in the fourth quarter valued at approximately $172,000. Finally, Rothschild Investment LLC grew its position in shares of Modine Manufacturing by 34.4% in the fourth quarter. Rothschild Investment LLC now owns 1,720 shares of the auto parts company's stock valued at $199,000 after purchasing an additional 440 shares in the last quarter. 95.23% of the stock is owned by institutional investors.

Modine Manufacturing Trading Down 0.2%

Shares of NYSE:MOD traded down $0.22 during midday trading on Friday, reaching $90.13. 1,132,224 shares of the company's stock were exchanged, compared to its average volume of 952,284. The firm's 50 day simple moving average is $85.23 and its two-hundred day simple moving average is $103.60. 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 stock has a market cap of $4.74 billion, a price-to-earnings ratio of 30.24, a P/E/G ratio of 0.71 and a beta of 2.08. Modine Manufacturing has a fifty-two week low of $64.79 and a fifty-two week high of $146.84.

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

Modine Manufacturing announced that its Board of Directors has authorized a stock repurchase 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 reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

Insider Activity

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. Company insiders own 2.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. DA Davidson reiterated a "buy" rating and set a $155.00 price objective on shares of Modine Manufacturing in a research report on Monday, March 17th. Oppenheimer lifted their price target on Modine Manufacturing from $114.00 to $121.00 and gave the stock an "outperform" rating in a report on Thursday.

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.