3,487 Shares in Modine Manufacturing (NYSE:MOD) Bought by Quantessence Capital LLC

Quantessence Capital LLC bought a new stake in shares of Modine Manufacturing (NYSE:MOD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,487 shares of the auto parts company's stock, valued at approximately $404,000.

Other institutional investors also recently modified their holdings of the company. William Blair Investment Management LLC raised its stake in Modine Manufacturing by 7.7% during the fourth quarter. William Blair Investment Management LLC now owns 247,400 shares of the auto parts company's stock valued at $28,681,000 after buying an additional 17,599 shares during the last quarter. Entropy Technologies LP purchased a new position in Modine Manufacturing in the 4th quarter worth about $452,000. New York State Common Retirement Fund grew its position in Modine Manufacturing by 9.9% in the 4th quarter. New York State Common Retirement Fund now owns 247,975 shares of the auto parts company's stock worth $28,748,000 after purchasing an additional 22,259 shares during the period. Legend Financial Advisors Inc. lifted its holdings in Modine Manufacturing by 2.9% in the fourth quarter. Legend Financial Advisors Inc. now owns 9,929 shares of the auto parts company's stock valued at $1,151,000 after acquiring an additional 279 shares during the period. Finally, Peregrine Capital Management LLC lifted its stake in shares of Modine Manufacturing by 10.9% in the 4th quarter. Peregrine Capital Management LLC now owns 100,949 shares of the auto parts company's stock worth $11,703,000 after purchasing an additional 9,920 shares during the period. 95.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director William A. Wulfsohn acquired 2,530 shares of Modine Manufacturing stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $79.43 per share, with a total value of $200,957.90. Following the transaction, the director now directly 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 acquisition was disclosed in a filing with the SEC, which is available at this link. 2.40% of the stock is currently owned by company insiders.

Modine Manufacturing Price Performance

Shares of NYSE:MOD traded down $1.51 during midday trading on Monday, reaching $79.63. 115,915 shares of the company were exchanged, compared to its average volume of 1,356,460. The company has a current ratio of 1.87, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. The stock has a market cap of $4.19 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 0.71 and a beta of 2.19. The business's fifty day moving average is $80.78 and its two-hundred day moving average is $107.79. Modine Manufacturing has a one year low of $64.79 and a one year high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its earnings results on Tuesday, February 4th. The auto parts company reported $0.92 EPS for the quarter, topping 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, analysts predict that Modine Manufacturing will post 3.88 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

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

Modine Manufacturing 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.