Osterweis Capital Management Inc. Raises Stock Position in Modine Manufacturing (NYSE:MOD)

Osterweis Capital Management Inc. lifted its position in Modine Manufacturing (NYSE:MOD - Free Report) by 22.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 133,727 shares of the auto parts company's stock after acquiring an additional 24,452 shares during the period. Osterweis Capital Management Inc. owned 0.25% of Modine Manufacturing worth $15,503,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MOD. Vanguard Group Inc. increased its position in shares of Modine Manufacturing by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 5,058,967 shares of the auto parts company's stock valued at $586,486,000 after acquiring an additional 70,581 shares in the last quarter. Invesco Ltd. grew its position in shares of Modine Manufacturing by 1.0% during the 4th quarter. Invesco Ltd. now owns 2,012,533 shares of the auto parts company's stock valued at $233,313,000 after acquiring an additional 20,085 shares during the period. Wasatch Advisors LP raised its stake 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 buying an additional 741,667 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Modine Manufacturing by 2.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company's stock valued at $153,072,000 after buying an additional 26,527 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its stake in Modine Manufacturing by 22.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 575,223 shares of the auto parts company's stock worth $66,686,000 after buying an additional 106,033 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company's stock.

Insider Buying and Selling

In other news, Director William A. Wulfsohn acquired 2,530 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was acquired 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 owns 7,277 shares in the company, valued at approximately $578,012.11. The trade was a 53.30 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Modine Manufacturing Trading Up 5.0 %

MOD traded up $3.47 during trading hours on Tuesday, reaching $72.77. 232,162 shares of the company's stock traded hands, compared to its average volume of 936,868. Modine Manufacturing has a 52-week low of $64.79 and a 52-week high of $146.84. The firm has a 50-day moving average price of $81.99 and a 200 day moving average price of $109.33. The firm has a market capitalization of $3.83 billion, a PE ratio of 24.42, a PEG ratio of 0.71 and a beta of 2.19. 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 (NYSE:MOD - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. As a group, sell-side analysts predict that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing declared that its board has authorized a share repurchase program on Friday, March 7th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the auto parts company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

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.