43,622 Shares in Modine Manufacturing (NYSE:MOD) Purchased by Panoramic Capital LLC

Panoramic Capital LLC bought a new position in Modine Manufacturing (NYSE:MOD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 43,622 shares of the auto parts company's stock, valued at approximately $5,057,000. Modine Manufacturing makes up about 2.7% of Panoramic Capital LLC's holdings, making the stock its 10th largest holding. Panoramic Capital LLC owned about 0.08% of Modine Manufacturing at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its position in shares of Modine Manufacturing by 6.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company's stock valued at $157,000 after acquiring an additional 82 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Modine Manufacturing by 0.8% during the fourth quarter. Arizona State Retirement System now owns 14,451 shares of the auto parts company's stock worth $1,675,000 after acquiring an additional 118 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Modine Manufacturing by 8.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company's stock worth $208,000 after acquiring an additional 136 shares during the period. Summit Investment Advisors Inc. boosted its stake in shares of Modine Manufacturing by 2.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,284 shares of the auto parts company's stock valued at $613,000 after buying an additional 146 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of Modine Manufacturing by 6.0% in the fourth quarter. Signaturefd LLC now owns 2,786 shares of the auto parts company's stock valued at $323,000 after buying an additional 157 shares during the period. 95.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Modine Manufacturing

In related news, Director William A. Wulfsohn acquired 2,530 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of $79.43 per share, with a total value of $200,957.90. Following the acquisition, the director now owns 7,277 shares of the company's stock, valued at approximately $578,012.11. The trade was a 53.30% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is currently owned by company insiders.

Modine Manufacturing Stock Up 2.0%

NYSE:MOD traded up $2.04 on Friday, hitting $104.49. The stock had a trading volume of 528,599 shares, compared to its average volume of 954,095. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.87. The stock has a market cap of $5.49 billion, a P/E ratio of 35.06, a price-to-earnings-growth ratio of 0.71 and a beta of 2.08. Modine Manufacturing has a 1 year low of $64.79 and a 1 year high of $146.84. The firm's fifty day simple moving average is $84.02 and its two-hundred day simple moving average is $104.23.

Modine Manufacturing declared that its Board of Directors has initiated a stock repurchase plan on Friday, March 7th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Separately, DA Davidson restated 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 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.