BNP Paribas Financial Markets Has $1.07 Million Holdings in Modine Manufacturing (NYSE:MOD)

BNP Paribas Financial Markets decreased its position in Modine Manufacturing (NYSE:MOD - Free Report) by 70.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,230 shares of the auto parts company's stock after selling 21,802 shares during the period. BNP Paribas Financial Markets' holdings in Modine Manufacturing were worth $1,070,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Wasatch Advisors LP increased its stake in shares of Modine Manufacturing by 108.0% in the 4th quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company's stock valued at $165,596,000 after buying an additional 741,667 shares during the period. Norges Bank acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at $31,590,000. T. Rowe Price Investment Management Inc. increased its stake in shares of Modine Manufacturing by 27.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,207,181 shares of the auto parts company's stock valued at $139,949,000 after buying an additional 262,936 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Modine Manufacturing by 433.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 215,230 shares of the auto parts company's stock valued at $24,953,000 after buying an additional 174,862 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at $19,719,000. Institutional investors and hedge funds own 95.23% of the company's stock.

Modine Manufacturing Trading Down 0.2%

Shares of NYSE:MOD traded down $0.22 during midday trading on Monday, hitting $90.13. The company had a trading volume of 1,132,224 shares, compared to its average volume of 952,459. Modine Manufacturing has a 12 month low of $64.79 and a 12 month high of $146.84. The company has a current ratio of 1.87, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. The stock has a market cap 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 firm has a fifty day simple moving average of $85.27 and a 200 day simple moving average of $103.02.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly 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. The business had revenue of $647.20 million for 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 revenue was up 7.2% on a year-over-year basis. During the same period last year, the company earned $0.77 EPS. On average, analysts predict that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing declared that its board has authorized 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 stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

MOD has been the subject of several research reports. DA Davidson reissued a "buy" rating and issued a $155.00 target price on shares of Modine Manufacturing in a research note on Monday, March 17th. Oppenheimer raised their price target on Modine Manufacturing from $114.00 to $121.00 and gave the stock an "outperform" rating in a research report on Thursday.

Insiders Place Their Bets

In other Modine Manufacturing news, Director William A. Wulfsohn bought 2,530 shares of Modine Manufacturing stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $79.43 per share, for a total transaction of $200,957.90. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.40% of the company's stock.

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.