EAM Investors LLC Trims Stock Holdings in Modine Manufacturing (NYSE:MOD)

EAM Investors LLC lessened its holdings in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 18.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,031 shares of the auto parts company's stock after selling 8,355 shares during the quarter. EAM Investors LLC owned approximately 0.07% of Modine Manufacturing worth $4,177,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Norges Bank acquired a new position in shares of Modine Manufacturing during the 4th quarter valued at about $31,590,000. Raymond James Financial Inc. acquired a new stake in shares of Modine Manufacturing during the 4th quarter worth approximately $19,719,000. Clearbridge Investments LLC acquired a new position in Modine Manufacturing in the fourth quarter valued at approximately $18,930,000. Massachusetts Financial Services Co. MA purchased a new position in Modine Manufacturing in the fourth quarter worth approximately $16,434,000. Finally, Portolan Capital Management LLC increased its stake in Modine Manufacturing by 57.5% during the fourth quarter. Portolan Capital Management LLC now owns 328,899 shares of the auto parts company's stock worth $38,129,000 after acquiring an additional 120,133 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company's stock.

Modine Manufacturing Stock Down 7.3 %

MOD traded down $5.54 during trading hours on Monday, hitting $70.32. 199,671 shares of the company's stock were exchanged, compared to its average volume of 935,654. The firm has a 50 day moving average of $82.55 and a 200 day moving average of $109.79. The firm has a market cap of $3.70 billion, a P/E ratio of 23.60, a price-to-earnings-growth 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.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. Analysts predict that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing announced that its Board of Directors has initiated a stock repurchase 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 buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In related news, Director William A. Wulfsohn purchased 2,530 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was 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 in the company, valued at $578,012.11. This trade represents a 53.30 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.40% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reiterated a "buy" rating and set 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.