MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 1,146 Shares of Modine Manufacturing (NYSE:MOD)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Modine Manufacturing (NYSE:MOD) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,392 shares of the auto parts company’s stock after acquiring an additional 1,146 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Modine Manufacturing were worth $3,407,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC increased its stake in Modine Manufacturing by 7.7% during 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 acquiring an additional 17,599 shares during the period. Entropy Technologies LP bought a new stake in shares of Modine Manufacturing in the 4th quarter valued at approximately $452,000. New York State Common Retirement Fund grew its stake in shares of Modine Manufacturing by 9.9% in the 4th quarter. New York State Common Retirement Fund now owns 247,975 shares of the auto parts company’s stock valued at $28,748,000 after purchasing an additional 22,259 shares during the period. Peregrine Capital Management LLC grew its stake in shares of Modine Manufacturing by 10.9% in the 4th 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 shares of Modine Manufacturing in the 4th quarter valued at approximately $19,719,000. 95.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In other Modine Manufacturing news, Director William A. Wulfsohn purchased 2,530 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $79.43 per share, for a total transaction of $200,957.90. Following the transaction, the director now directly owns 7,277 shares in the company, 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 filing with the SEC, which is available through this link. Corporate insiders own 2.40% of the company’s stock.

Modine Manufacturing Trading Down 0.6%

MOD stock opened at $103.87 on Tuesday. Modine Manufacturing has a 1-year low of $64.79 and a 1-year high of $146.84. The firm has a market cap of $5.46 billion, a P/E ratio of 34.86, a P/E/G ratio of 0.71 and a beta of 2.08. The business’s 50 day moving average is $84.41 and its 200-day moving average is $103.96. The company has a current ratio of 1.87, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38.

Modine Manufacturing announced that its board has approved a share buyback program on Friday, March 7th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the auto parts company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors 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.