Ethic Inc. Purchases 964 Shares of Modine Manufacturing (NYSE:MOD)

Ethic Inc. increased its position in Modine Manufacturing (NYSE:MOD) by 34.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,767 shares of the auto parts company’s stock after buying an additional 964 shares during the quarter. Ethic Inc.’s holdings in Modine Manufacturing were worth $437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its position in Modine Manufacturing by 6.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock worth $157,000 after buying an additional 82 shares during the last quarter. Arizona State Retirement System lifted its position in Modine Manufacturing by 0.8% in the 4th quarter. Arizona State Retirement System now owns 14,451 shares of the auto parts company’s stock worth $1,675,000 after buying an additional 118 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted 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 last quarter. Summit Investment Advisors Inc. lifted its position in Modine Manufacturing by 2.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,284 shares of the auto parts company’s stock worth $613,000 after buying an additional 146 shares during the last quarter. Finally, Signaturefd LLC lifted its position in Modine Manufacturing by 6.0% in the 4th quarter. Signaturefd LLC now owns 2,786 shares of the auto parts company’s stock worth $323,000 after buying an additional 157 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

Shares of Modine Manufacturing stock opened at $102.20 on Friday. 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 business’s 50 day simple moving average is $83.54 and its two-hundred day simple moving average is $104.40. The stock has a market capitalization of $5.37 billion, a P/E ratio of 34.30, a price-to-earnings-growth ratio of 0.71 and a beta of 2.08. Modine Manufacturing has a one year low of $64.79 and a one year high of $146.84.

Modine Manufacturing declared that its Board of Directors has approved a share buyback program on Friday, March 7th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director William A. Wulfsohn purchased 2,530 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were acquired at an average cost of $79.43 per share, with a total value of $200,957.90. Following the purchase, the director now directly owns 7,277 shares of the company’s stock, valued at approximately $578,012.11. This trade represents a 53.30% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.40% of the company’s stock.

Analyst Ratings Changes

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

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.