Silvercrest Asset Management Group LLC Has $28.69 Million Position in Modine Manufacturing (NYSE:MOD)

Silvercrest Asset Management Group LLC grew its holdings in Modine Manufacturing (NYSE:MOD - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 247,457 shares of the auto parts company's stock after buying an additional 9,232 shares during the quarter. Silvercrest Asset Management Group LLC owned approximately 0.47% of Modine Manufacturing worth $28,688,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MOD. Barclays PLC increased its stake in shares of Modine Manufacturing by 272.4% in the third quarter. Barclays PLC now owns 92,235 shares of the auto parts company's stock valued at $12,247,000 after buying an additional 67,465 shares in the last quarter. Park Avenue Securities LLC raised its position in Modine Manufacturing by 31.6% in the 4th quarter. Park Avenue Securities LLC now owns 2,258 shares of the auto parts company's stock worth $262,000 after purchasing an additional 542 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of Modine Manufacturing by 117.1% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 4,384 shares of the auto parts company's stock worth $508,000 after acquiring an additional 2,365 shares during the last quarter. Yarbrough Capital LLC acquired a new position in shares of Modine Manufacturing during the fourth quarter valued at $324,000. Finally, Mountain Pacific Investment Advisers LLC boosted its holdings in Modine Manufacturing by 80.5% in the fourth quarter. Mountain Pacific Investment Advisers LLC now owns 45,116 shares of the auto parts company's stock valued at $5,230,000 after acquiring an additional 20,116 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Modine Manufacturing Trading Up 0.8%

MOD traded up $0.86 during midday trading on Tuesday, reaching $104.97. 1,122,037 shares of the company were exchanged, compared to its average volume of 955,947. 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 one year low of $64.79 and a one year high of $146.84. The stock has a market capitalization of $5.52 billion, a P/E ratio of 35.22, a PEG ratio of 0.71 and a beta of 2.08. The stock's 50-day simple moving average is $84.41 and its 200 day simple moving average is $103.96.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its earnings results on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.16. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. During the same quarter in the previous year, the company earned $0.77 EPS. The business's revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, analysts forecast that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In related news, Director William A. Wulfsohn bought 2,530 shares of Modine Manufacturing stock in a transaction on Monday, March 3rd. The shares were purchased at an average price 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 approximately $578,012.11. This represents a 53.30% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.40% of the company's stock.

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.