Peak6 LLC Invests $618,000 in Modine Manufacturing (NYSE:MOD)

PEAK6 LLC bought a new stake in Modine Manufacturing (NYSE:MOD - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,333 shares of the auto parts company's stock, valued at approximately $618,000.

Several other institutional investors have also recently modified their holdings of the company. Portolan Capital Management LLC boosted its position in Modine Manufacturing by 57.5% in the 4th quarter. Portolan Capital Management LLC now owns 328,899 shares of the auto parts company's stock worth $38,129,000 after purchasing an additional 120,133 shares in the last quarter. Barclays PLC raised its holdings in shares of Modine Manufacturing by 9.3% during the fourth quarter. Barclays PLC now owns 100,769 shares of the auto parts company's stock valued at $11,682,000 after acquiring an additional 8,534 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in Modine Manufacturing by 2.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,284 shares of the auto parts company's stock valued at $613,000 after purchasing an additional 146 shares in the last quarter. Grandeur Peak Global Advisors LLC boosted its position in Modine Manufacturing by 39.4% during the fourth quarter. Grandeur Peak Global Advisors LLC now owns 42,819 shares of the auto parts company's stock worth $4,964,000 after acquiring an additional 12,096 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Modine Manufacturing during the 4th quarter valued at about $19,719,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, Director William A. Wulfsohn acquired 2,530 shares of the stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $79.43 per share, with a total value of $200,957.90. Following the completion of the purchase, the director now owns 7,277 shares in the company, valued at $578,012.11. This trade represents a 53.30 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is owned by insiders.

Modine Manufacturing Trading Up 2.7 %

Shares of MOD stock traded up $2.15 on Friday, hitting $81.24. 926,422 shares of the stock traded hands, compared to its average volume of 943,802. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.87. Modine Manufacturing has a twelve month low of $64.79 and a twelve month high of $146.84. The firm's 50-day moving average price is $80.78 and its two-hundred day moving average price is $108.13. The stock has a market capitalization of $4.27 billion, a PE ratio of 27.26, a PEG ratio of 0.71 and a beta of 2.19.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 EPS 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%. As a group, analysts anticipate that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing declared that its board has approved 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 reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

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

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.