Capital International Investors Sells 91,369 Shares of Modine Manufacturing (NYSE:MOD)

Capital International Investors reduced its holdings in Modine Manufacturing (NYSE:MOD - Free Report) by 8.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 942,220 shares of the auto parts company's stock after selling 91,369 shares during the quarter. Capital International Investors owned 1.79% of Modine Manufacturing worth $109,232,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MOD. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Modine Manufacturing by 567.6% in 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. grew its holdings in shares of Modine Manufacturing by 97.8% during the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company's stock valued at $63,000 after acquiring an additional 269 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Modine Manufacturing by 6.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company's stock worth $157,000 after purchasing an additional 82 shares in the last quarter. Rothschild Investment LLC raised its position 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 acquiring an additional 440 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in shares of 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 valued at $208,000 after purchasing an additional 136 shares in the last quarter. Institutional investors own 95.23% of the company's stock.

Analyst Upgrades and Downgrades

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

Modine Manufacturing Stock Performance

MOD traded up $2.52 during trading on Friday, hitting $81.61. The stock had a trading volume of 384,036 shares, compared to its average volume of 1,364,996. The firm has a market cap of $4.29 billion, a PE ratio of 27.39, a P/E/G ratio of 0.71 and a beta of 2.19. The company has a current ratio of 1.87, a quick ratio of 1.18 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 company has a 50 day simple moving average of $81.00 and a 200-day simple moving average of $108.48.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its earnings results 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%. Analysts expect that Modine Manufacturing will post 3.88 EPS for the current year.

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

Insider Activity at Modine Manufacturing

In other news, Director William A. Wulfsohn bought 2,530 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average cost of $79.43 per share, for a total transaction of $200,957.90. Following the completion of the purchase, the director now owns 7,277 shares of the company's stock, valued at $578,012.11. This trade represents a 53.30 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.40% of the company's stock.

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.