G2 Investment Partners Management LLC Purchases 21,944 Shares of Modine Manufacturing (NYSE:MOD)

G2 Investment Partners Management LLC grew its holdings in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 29.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,353 shares of the auto parts company's stock after buying an additional 21,944 shares during the period. Modine Manufacturing accounts for about 2.9% of G2 Investment Partners Management LLC's investment portfolio, making the stock its 10th biggest holding. G2 Investment Partners Management LLC owned 0.19% of Modine Manufacturing worth $11,286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Skandinaviska Enskilda Banken AB publ lifted its holdings in Modine Manufacturing by 567.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company's stock valued at $27,000 after acquiring an additional 193 shares during the last quarter. Principal Securities Inc. raised its holdings in shares of 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% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company's stock valued at $157,000 after purchasing an additional 82 shares during the last quarter. Rothschild Investment LLC boosted its holdings in Modine Manufacturing by 34.4% during the fourth quarter. Rothschild Investment LLC now owns 1,720 shares of the auto parts company's stock worth $199,000 after buying an additional 440 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of Modine Manufacturing by 8.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company's stock valued at $208,000 after acquiring an additional 136 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, Director William A. Wulfsohn bought 2,530 shares of the stock in a transaction on Monday, March 3rd. The shares were bought at an average price of $79.43 per share, with a total value of $200,957.90. Following the purchase, the director now directly owns 7,277 shares in the company, valued at $578,012.11. The trade was a 53.30% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, 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.

Modine Manufacturing Trading Up 1.8%

Shares of MOD stock traded up $1.65 during trading hours on Friday, reaching $94.84. 777,588 shares of the stock traded hands, compared to its average volume of 950,291. Modine Manufacturing has a 1-year low of $64.79 and a 1-year high of $146.84. 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 firm has a market capitalization of $4.99 billion, a PE ratio of 31.83, a PEG ratio of 0.71 and a beta of 2.08. The business has a fifty day moving average price of $81.54 and a 200 day moving average price of $104.78.

Modine Manufacturing declared that its Board of Directors has approved a share buyback plan on Friday, March 7th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Modine Manufacturing Company 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.