Panoramic Capital LLC Purchases Shares of 43,622 Modine Manufacturing (NYSE:MOD)

Panoramic Capital LLC purchased a new stake in Modine Manufacturing (NYSE:MOD) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 43,622 shares of the auto parts company’s stock, valued at approximately $5,057,000. Modine Manufacturing accounts for about 2.7% of Panoramic Capital LLC’s portfolio, making the stock its 10th biggest position. Panoramic Capital LLC owned about 0.08% of Modine Manufacturing at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ grew its position in shares of 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 purchasing an additional 193 shares in the last quarter. Principal Securities Inc. grew 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 in the last quarter. Nisa Investment Advisors LLC grew its position in shares of 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 worth $157,000 after purchasing an additional 82 shares in the last quarter. Rothschild Investment LLC grew its position in shares of Modine Manufacturing by 34.4% during the 4th quarter. Rothschild Investment LLC now owns 1,720 shares of the auto parts company’s stock worth $199,000 after purchasing an additional 440 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of Modine Manufacturing by 8.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company’s stock worth $208,000 after acquiring an additional 136 shares in the last quarter. 95.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Modine Manufacturing

In related news, Director William A. Wulfsohn bought 2,530 shares of the business’s 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 transaction, the director now directly owns 7,277 shares of the company’s stock, valued at approximately $578,012.11. This represents a 53.30% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.40% of the company’s stock.

Modine Manufacturing Stock Performance

Shares of Modine Manufacturing stock opened at $104.66 on Wednesday. Modine Manufacturing has a fifty-two week low of $64.79 and a fifty-two week high of $146.84. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18. The firm has a market capitalization of $5.50 billion, a P/E ratio of 35.12, a P/E/G ratio of 0.71 and a beta of 2.08. The company’s 50 day moving average price is $82.56 and its two-hundred day moving average price is $104.60.

Modine Manufacturing declared that its board has initiated a stock buyback plan on Friday, March 7th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the auto parts company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

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.