T. Rowe Price Investment Management Inc. Grows Holdings in Modine Manufacturing (NYSE:MOD)

T. Rowe Price Investment Management Inc. increased its position in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 27.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,207,181 shares of the auto parts company's stock after acquiring an additional 262,936 shares during the period. T. Rowe Price Investment Management Inc. owned about 2.30% of Modine Manufacturing worth $139,949,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Modine Manufacturing by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 5,058,967 shares of the auto parts company's stock valued at $586,486,000 after purchasing an additional 70,581 shares during the period. Invesco Ltd. boosted its position in Modine Manufacturing by 1.0% in the 4th quarter. Invesco Ltd. now owns 2,012,533 shares of the auto parts company's stock valued at $233,313,000 after buying an additional 20,085 shares during the period. Wasatch Advisors LP boosted its position in Modine Manufacturing by 108.0% in the 4th quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company's stock valued at $165,596,000 after buying an additional 741,667 shares during the period. Principal Financial Group Inc. grew its stake in shares of Modine Manufacturing by 2.4% in the third quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company's stock worth $153,072,000 after acquiring an additional 26,527 shares in the last quarter. Finally, Capital World Investors increased its position in shares of Modine Manufacturing by 8.2% during the fourth quarter. Capital World Investors now owns 591,174 shares of the auto parts company's stock worth $68,535,000 after acquiring an additional 44,796 shares during the period. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, Director William A. Wulfsohn acquired 2,530 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $79.43 per share, for a total transaction of $200,957.90. Following the completion of the purchase, the director now directly 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 filing with the SEC, which is accessible through this hyperlink. 2.40% of the stock is owned by company insiders.

Modine Manufacturing Stock Down 1.5 %

NYSE MOD traded down $1.25 on Wednesday, hitting $80.55. 366,749 shares of the stock were exchanged, compared to its average volume of 941,283. Modine Manufacturing has a fifty-two week low of $64.79 and a fifty-two week high of $146.84. The company has a 50-day moving average price of $80.38 and a 200-day moving average price of $107.23. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. The company has a market cap of $4.23 billion, a PE ratio of 27.03, a PEG ratio of 0.71 and a beta of 2.19.

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, 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%. Sell-side analysts anticipate that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing declared that its board has initiated a share repurchase program on Friday, March 7th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the auto parts company to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

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.