Hudson Bay Capital Management LP Buys Shares of 35,000 Modine Manufacturing (NYSE:MOD)

Hudson Bay Capital Management LP acquired a new position in shares of Modine Manufacturing (NYSE:MOD - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 35,000 shares of the auto parts company's stock, valued at approximately $4,058,000. Hudson Bay Capital Management LP owned 0.07% of Modine Manufacturing at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Modine Manufacturing by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 5,058,967 shares of the auto parts company's stock worth $586,486,000 after buying an additional 70,581 shares during the period. Invesco Ltd. increased its position in Modine Manufacturing by 1.0% during the 4th quarter. Invesco Ltd. now owns 2,012,533 shares of the auto parts company's stock worth $233,313,000 after buying an additional 20,085 shares during the period. Driehaus Capital Management LLC increased its position in shares of Modine Manufacturing by 2.8% in the fourth quarter. Driehaus Capital Management LLC now owns 1,439,980 shares of the auto parts company's stock worth $166,937,000 after purchasing an additional 39,193 shares during the period. Wasatch Advisors LP increased its position in shares of Modine Manufacturing by 108.0% in the fourth quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company's stock worth $165,596,000 after purchasing an additional 741,667 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of Modine Manufacturing by 27.8% in 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 purchasing an additional 262,936 shares during the period. Institutional investors own 95.23% of the company's stock.

Insider Buying and Selling

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

Modine Manufacturing Price Performance

Shares of NYSE MOD traded up $2.04 during mid-day trading on Friday, reaching $104.49. The company had a trading volume of 528,599 shares, compared to its average volume of 952,874. 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 one year low of $64.79 and a one year high of $146.84. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of 35.06, a PEG ratio of 0.71 and a beta of 2.08. The business's 50-day simple moving average is $83.54 and its 200 day simple moving average is $104.40.

Modine Manufacturing declared that its board has initiated a share buyback plan on Friday, March 7th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the auto parts company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, DA Davidson restated a "buy" rating and issued a $155.00 price target on shares of Modine Manufacturing in a research report on Monday, March 17th.

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.