Nuveen Asset Management LLC Acquires 30,724 Shares of Modine Manufacturing (NYSE:MOD)

Nuveen Asset Management LLC lifted its stake in Modine Manufacturing (NYSE:MOD - Free Report) by 9.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 343,407 shares of the auto parts company's stock after purchasing an additional 30,724 shares during the period. Nuveen Asset Management LLC owned 0.65% of Modine Manufacturing worth $39,811,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC increased its position in Modine Manufacturing by 272.4% in the third quarter. Barclays PLC now owns 92,235 shares of the auto parts company's stock worth $12,247,000 after buying an additional 67,465 shares in the last quarter. Park Avenue Securities LLC increased its holdings in Modine Manufacturing by 31.6% in the 4th quarter. Park Avenue Securities LLC now owns 2,258 shares of the auto parts company's stock worth $262,000 after acquiring an additional 542 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Modine Manufacturing by 117.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 4,384 shares of the auto parts company's stock worth $508,000 after acquiring an additional 2,365 shares during the period. Mountain Pacific Investment Advisers LLC lifted its holdings in Modine Manufacturing by 80.5% during the fourth quarter. Mountain Pacific Investment Advisers LLC now owns 45,116 shares of the auto parts company's stock valued at $5,230,000 after purchasing an additional 20,116 shares in the last quarter. Finally, Ballentine Partners LLC bought a new position in shares of Modine Manufacturing in the fourth quarter worth approximately $539,000. 95.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Modine Manufacturing Price Performance

Shares of MOD traded down $0.22 during midday trading on Monday, hitting $90.13. 1,132,224 shares of the company traded hands, compared to its average volume of 952,459. 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 50 day moving average of $85.23 and a 200-day moving average of $103.29. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.87. Modine Manufacturing has a 52 week low of $64.79 and a 52 week high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings results 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. The company 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 revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.77 earnings per share. On average, analysts forecast that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing declared that its Board of Directors has approved a share buyback program on Friday, March 7th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the auto parts company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

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 purchased 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 of the company's stock, valued at $578,012.11. This represents a 53.30% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is owned by insiders.

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.