Jefferies Financial Group Inc. Makes New Investment in Modine Manufacturing (NYSE:MOD)

Jefferies Financial Group Inc. acquired a new stake in shares of Modine Manufacturing (NYSE:MOD - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,750 shares of the auto parts company's stock, valued at approximately $2,290,000.

Several other institutional investors also recently bought and sold shares of MOD. Skandinaviska Enskilda Banken AB publ increased its holdings in Modine Manufacturing by 567.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company's stock valued at $27,000 after buying an additional 193 shares during the period. Principal Securities Inc. increased its holdings in Modine Manufacturing by 97.8% during the fourth quarter. Principal Securities Inc. now owns 544 shares of the auto parts company's stock valued at $63,000 after buying an additional 269 shares during the period. Nisa Investment Advisors LLC increased its holdings 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 buying an additional 82 shares during the period. Rothschild Investment LLC increased 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 valued at $199,000 after buying an additional 440 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in Modine Manufacturing by 8.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company's stock valued at $208,000 after buying an additional 136 shares during the period. 95.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director William A. Wulfsohn acquired 2,530 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $79.43 per share, with a total value of $200,957.90. Following the completion of the acquisition, the director now directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.40% of the company's stock.

Modine Manufacturing Stock Performance

Shares of MOD traded up $2.04 during trading hours on Friday, reaching $104.49. 528,599 shares of the company traded hands, compared to its average volume of 954,095. The stock has a market capitalization of $5.49 billion, a P/E ratio of 35.06, a P/E/G ratio of 0.71 and a beta of 2.08. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. Modine Manufacturing has a 12-month low of $64.79 and a 12-month high of $146.84. The business has a fifty day moving average price of $84.02 and a 200-day moving average price of $104.23.

Modine Manufacturing declared that its board has initiated a share repurchase plan on Friday, March 7th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the auto parts company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors 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.