Russell Investments Group Ltd. Sells 28,430 Shares of Modine Manufacturing (NYSE:MOD)

Russell Investments Group Ltd. lessened its holdings in Modine Manufacturing (NYSE:MOD - Free Report) by 24.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,739 shares of the auto parts company's stock after selling 28,430 shares during the period. Russell Investments Group Ltd. owned about 0.17% of Modine Manufacturing worth $10,403,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Modine Manufacturing by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 5,058,967 shares of the auto parts company's stock worth $586,486,000 after purchasing an additional 70,581 shares in the last quarter. State Street Corp lifted its stake in shares of Modine Manufacturing by 1.5% in the 3rd quarter. State Street Corp now owns 1,219,916 shares of the auto parts company's stock valued at $161,993,000 after acquiring an additional 18,108 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Modine Manufacturing by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,170,958 shares of the auto parts company's stock valued at $155,522,000 after acquiring an additional 9,648 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Modine Manufacturing by 2.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company's stock valued at $153,072,000 after acquiring an additional 26,527 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its position in Modine Manufacturing by 22.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 575,223 shares of the auto parts company's stock worth $66,686,000 after acquiring an additional 106,033 shares during the last quarter. Institutional investors own 95.23% of the company's stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Modine Manufacturing news, Director William A. Wulfsohn bought 2,530 shares of the stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $79.43 per share, for a total transaction of $200,957.90. Following the completion of the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which is available at this link. 2.40% of the stock is owned by insiders.

Modine Manufacturing Trading Up 0.1 %

NYSE:MOD traded up $0.06 during trading hours on Thursday, hitting $75.49. 151,619 shares of the company were exchanged, compared to its average volume of 938,167. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 25.38, a price-to-earnings-growth ratio of 0.71 and a beta of 2.19. Modine Manufacturing has a one year low of $64.79 and a one year high of $146.84. The company has a fifty day simple moving average of $83.44 and a 200 day simple moving average of $110.83. 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 (NYSE:MOD - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (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%. Sell-side analysts expect that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing declared that its board has initiated a share buyback 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 buy up to 2.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its shares are undervalued.

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.