Algert Global LLC Acquires 8,847 Shares of Modine Manufacturing (NYSE:MOD)

Algert Global LLC grew its stake in Modine Manufacturing (NYSE:MOD) by 79.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 19,957 shares of the auto parts company’s stock after buying an additional 8,847 shares during the period. Algert Global LLC’s holdings in Modine Manufacturing were worth $2,314,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. William Blair Investment Management LLC lifted its stake in Modine Manufacturing by 7.7% in the fourth quarter. William Blair Investment Management LLC now owns 247,400 shares of the auto parts company’s stock valued at $28,681,000 after buying an additional 17,599 shares during the period. Entropy Technologies LP acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at approximately $452,000. New York State Common Retirement Fund boosted its stake in Modine Manufacturing by 9.9% during the 4th quarter. New York State Common Retirement Fund now owns 247,975 shares of the auto parts company’s stock worth $28,748,000 after acquiring an additional 22,259 shares during the last quarter. Peregrine Capital Management LLC grew its holdings in Modine Manufacturing by 10.9% during the fourth quarter. Peregrine Capital Management LLC now owns 100,949 shares of the auto parts company’s stock valued at $11,703,000 after purchasing an additional 9,920 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Modine Manufacturing in the fourth quarter valued at approximately $19,719,000. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Trading Up 2.2 %

NYSE MOD opened at $93.33 on Friday. Modine Manufacturing has a one year low of $64.79 and a one year 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 cap of $4.91 billion, a P/E ratio of 31.32, a P/E/G ratio of 0.71 and a beta of 2.08. The stock’s 50-day moving average is $81.21 and its 200-day moving average is $105.31.

Modine Manufacturing (NYSE:MOD) last posted its earnings results 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 anticipate that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing declared that its board has authorized a stock repurchase program on Friday, March 7th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the auto parts company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

Insider Transactions at Modine Manufacturing

In related news, Director William A. Wulfsohn bought 2,530 shares of Modine Manufacturing stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $79.43 per share, with a total value of $200,957.90. Following the purchase, the director now owns 7,277 shares in the company, valued at approximately $578,012.11. This trade represents a 53.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is owned by insiders.

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.