ProShare Advisors LLC Has $1.69 Million Stock Holdings in Modine Manufacturing (NYSE:MOD)

ProShare Advisors LLC increased its stake in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 49.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,547 shares of the auto parts company's stock after buying an additional 4,786 shares during the quarter. ProShare Advisors LLC's holdings in Modine Manufacturing were worth $1,686,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MOD. Wasatch Advisors LP boosted its holdings in shares of Modine Manufacturing by 108.0% during the fourth quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company's stock valued at $165,596,000 after acquiring an additional 741,667 shares during the period. J. Goldman & Co LP acquired a new position in shares of Modine Manufacturing during the fourth quarter worth approximately $43,201,000. Norges Bank acquired a new position in shares of Modine Manufacturing during the fourth quarter worth approximately $31,590,000. T. Rowe Price Investment Management Inc. boosted its position in shares of Modine Manufacturing by 27.8% during the fourth 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 period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Modine Manufacturing by 433.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 215,230 shares of the auto parts company's stock worth $24,953,000 after buying an additional 174,862 shares during the period. Institutional investors and hedge funds own 95.23% of the company's stock.

Insider Buying and Selling at Modine Manufacturing

In related news, Director William A. Wulfsohn purchased 2,530 shares of the firm's stock in a transaction that occurred 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 transaction, the director now directly owns 7,277 shares of the company's stock, valued at $578,012.11. This trade represents a 53.30% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on MOD. Oppenheimer boosted their price objective on Modine Manufacturing from $114.00 to $121.00 and gave the stock an "outperform" rating in a research report on Thursday. 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.

Modine Manufacturing Price Performance

NYSE MOD traded down $0.22 on Friday, reaching $90.13. 1,132,224 shares of the stock traded hands, compared to its average volume of 952,459. The firm's fifty day simple moving average is $85.23 and its 200 day simple moving average is $103.60. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. The company 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 12 month low of $64.79 and a 12 month high of $146.84.

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

Modine Manufacturing announced that its board has approved a share repurchase plan on Friday, March 7th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the auto parts company to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign 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.