Harvest Investment Services LLC grew its stake in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 50.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,212 shares of the auto parts company's stock after buying an additional 15,868 shares during the period. Modine Manufacturing accounts for approximately 1.3% of Harvest Investment Services LLC's holdings, making the stock its 13th biggest holding. Harvest Investment Services LLC owned approximately 0.09% of Modine Manufacturing worth $5,473,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Barclays PLC raised 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 valued at $12,247,000 after purchasing an additional 67,465 shares during the period. Invst LLC lifted its stake in shares of Modine Manufacturing by 16.1% in the third quarter. Invst LLC now owns 8,245 shares of the auto parts company's stock worth $1,095,000 after acquiring an additional 1,144 shares in the last quarter. Virtu Financial LLC acquired a new stake in Modine Manufacturing during the 3rd quarter valued at approximately $396,000. Franklin Resources Inc. raised its position in shares of Modine Manufacturing by 33.2% in the 3rd quarter. Franklin Resources Inc. now owns 266,731 shares of the auto parts company's stock valued at $35,550,000 after purchasing an additional 66,484 shares in the last quarter. Finally, American Trust bought a new stake in shares of Modine Manufacturing in the third quarter worth $268,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.
Modine Manufacturing Price Performance
Modine Manufacturing stock traded up $2.15 during midday trading on Friday, hitting $81.24. The company's stock had a trading volume of 926,422 shares, compared to its average volume of 944,367. Modine Manufacturing has a 12 month low of $64.79 and a 12 month 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 stock's 50-day moving average price is $80.78 and its 200-day moving average price is $107.95. The company has a market capitalization of $4.27 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 0.71 and a beta of 2.19.
Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. Analysts anticipate that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.
Modine Manufacturing announced that its board has initiated a stock repurchase program on Friday, March 7th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the auto parts company to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its stock is undervalued.
Insider Activity at Modine Manufacturing
In other news, Director William A. Wulfsohn bought 2,530 shares of the company's stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $79.43 per share, with a total value of $200,957.90. Following the transaction, the director now directly owns 7,277 shares in the company, valued at approximately $578,012.11. This trade represents a 53.30 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Separately, DA Davidson reiterated a "buy" rating and set a $155.00 target price on shares of Modine Manufacturing in a research note on Monday, March 17th.
View Our Latest Research Report on Modine Manufacturing
About Modine Manufacturing
(
Free Report)
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.
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