Modine Manufacturing (NYSE:MOD) Shares Bought by Voya Investment Management LLC

Voya Investment Management LLC raised its holdings in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 295,113 shares of the auto parts company's stock after acquiring an additional 9,885 shares during the quarter. Voya Investment Management LLC owned approximately 0.56% of Modine Manufacturing worth $34,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of MOD. Wasatch Advisors LP lifted its position 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 valued at $165,596,000 after acquiring an additional 741,667 shares in the last quarter. Norges Bank bought a new stake in Modine Manufacturing during the 4th quarter valued at approximately $31,590,000. T. Rowe Price Investment Management Inc. raised its stake in Modine Manufacturing by 27.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,207,181 shares of the auto parts company's stock valued at $139,949,000 after purchasing an additional 262,936 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Modine Manufacturing by 433.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 215,230 shares of the auto parts company's stock valued at $24,953,000 after purchasing an additional 174,862 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Modine Manufacturing during the 4th quarter valued at approximately $19,719,000. Hedge funds and other institutional investors own 95.23% of the company's stock.

Wall Street Analyst Weigh In

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

Modine Manufacturing Trading Up 6.0 %

Shares of Modine Manufacturing stock traded up $4.92 on Thursday, reaching $86.56. The company had a trading volume of 748,203 shares, compared to its average volume of 943,393. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of 29.04, a P/E/G ratio of 0.71 and a beta of 2.19. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18. The firm's 50-day moving average price is $80.28 and its two-hundred day moving average price is $107.06. Modine Manufacturing has a 1 year low of $64.79 and a 1 year high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (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%. As a group, research analysts predict that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing declared that its board has approved a stock buyback program on Friday, March 7th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the auto parts company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Modine Manufacturing

In related news, Director William A. Wulfsohn purchased 2,530 shares of Modine Manufacturing stock in a transaction dated 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 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

About Modine Manufacturing

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.