Frontier Capital Management Co. LLC Buys 22,389 Shares of Modine Manufacturing (NYSE:MOD)

Frontier Capital Management Co. LLC lifted its holdings in Modine Manufacturing (NYSE:MOD - Free Report) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 809,570 shares of the auto parts company's stock after acquiring an additional 22,389 shares during the quarter. Modine Manufacturing accounts for 0.9% of Frontier Capital Management Co. LLC's holdings, making the stock its 16th biggest position. Frontier Capital Management Co. LLC owned approximately 1.54% of Modine Manufacturing worth $93,853,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ increased its stake in shares of 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 worth $27,000 after acquiring an additional 193 shares during the last quarter. Principal Securities Inc. boosted its holdings in Modine Manufacturing by 97.8% in the fourth quarter. Principal Securities Inc. now owns 544 shares of the auto parts company's stock valued at $63,000 after purchasing an additional 269 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Modine Manufacturing by 6.5% in the 4th 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 last quarter. Rothschild Investment LLC boosted its position in shares of Modine Manufacturing by 34.4% in the 4th quarter. Rothschild Investment LLC now owns 1,720 shares of the auto parts company's stock valued at $199,000 after purchasing an additional 440 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its position in 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 worth $208,000 after purchasing an additional 136 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company's stock.

Insider Activity at Modine Manufacturing

In other news, Director William A. Wulfsohn bought 2,530 shares of the business's stock in a transaction on Monday, March 3rd. The stock was purchased at an average price 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. The trade was a 53.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.40% of the stock is owned by insiders.

Modine Manufacturing Stock Performance

MOD stock traded up $1.65 during mid-day trading on Friday, reaching $94.84. The company had a trading volume of 777,588 shares, compared to its average volume of 950,291. Modine Manufacturing has a one year low of $64.79 and a one 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 stock has a market capitalization of $4.99 billion, a P/E ratio of 31.83, a P/E/G ratio of 0.71 and a beta of 2.08. The stock's 50-day simple moving average is $81.54 and its two-hundred day simple moving average is $104.92.

Modine Manufacturing declared that its Board of Directors has initiated a share buyback plan on Friday, March 7th that authorizes the company to buyback $100.00 million in 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 an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

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

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.