Capital World Investors Has $68.54 Million Stock Holdings in Modine Manufacturing (NYSE:MOD)

Capital World Investors lifted its position in Modine Manufacturing (NYSE:MOD) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 591,174 shares of the auto parts company’s stock after buying an additional 44,796 shares during the quarter. Capital World Investors’ holdings in Modine Manufacturing were worth $68,535,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of MOD. Skandinaviska Enskilda Banken AB publ lifted its position in Modine Manufacturing by 567.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company’s stock worth $27,000 after acquiring an additional 193 shares during the last quarter. Principal Securities Inc. lifted its position in shares of Modine Manufacturing by 97.8% during the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock worth $63,000 after purchasing an additional 269 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Modine Manufacturing by 6.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock valued at $157,000 after purchasing an additional 82 shares during the period. Rothschild Investment LLC grew its holdings in Modine Manufacturing by 34.4% in the 4th quarter. Rothschild Investment LLC now owns 1,720 shares of the auto parts company’s stock valued at $199,000 after buying an additional 440 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in Modine Manufacturing by 8.2% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company’s stock worth $208,000 after buying an additional 136 shares during the period. 95.23% of the stock is owned by institutional investors.

Modine Manufacturing Stock Down 8.4 %

Shares of MOD opened at $69.49 on Tuesday. Modine Manufacturing has a 52 week low of $64.79 and a 52 week high of $146.84. The firm has a market capitalization of $3.65 billion, a P/E ratio of 23.32, a P/E/G ratio of 0.71 and a beta of 2.19. The company has a 50-day simple moving average of $81.99 and a 200-day simple moving average of $109.33. 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 (NYSE:MOD) last announced its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share for the quarter, topping 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%. On average, equities research analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current year.

Modine Manufacturing declared that its Board of Directors has approved a share repurchase program on Friday, March 7th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the auto parts company to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Separately, DA Davidson reissued a “buy” rating and issued a $155.00 price objective on shares of Modine Manufacturing in a research report on Monday, March 17th.

Insiders Place Their Bets

In other Modine Manufacturing news, Director William A. Wulfsohn acquired 2,530 shares of Modine Manufacturing stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of $79.43 per share, with a total value of $200,957.90. Following the acquisition, the director now owns 7,277 shares of the company’s stock, valued at approximately $578,012.11. The trade was a 53.30 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.40% of the company’s stock.

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.