Modine Manufacturing (NYSE:MOD) Shares Acquired by William Blair Investment Management LLC

William Blair Investment Management LLC increased its position in shares of Modine Manufacturing (NYSE:MOD) by 7.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 247,400 shares of the auto parts company’s stock after buying an additional 17,599 shares during the quarter. William Blair Investment Management LLC’s holdings in Modine Manufacturing were worth $28,681,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ grew its stake 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 buying an additional 193 shares during the last quarter. Principal Securities Inc. grew its stake in 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 buying an additional 269 shares during the last quarter. Private Trust Co. NA grew its stake in Modine Manufacturing by 650.5% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock worth $103,000 after buying an additional 670 shares during the last quarter. Nisa Investment Advisors LLC grew 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 worth $157,000 after buying an additional 82 shares during the last quarter. Finally, KBC Group NV grew its stake in Modine Manufacturing by 47.8% during the 3rd quarter. KBC Group NV now owns 1,456 shares of the auto parts company’s stock worth $193,000 after buying an additional 471 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson restated a “buy” rating and set a $155.00 price target on shares of Modine Manufacturing in a research note on Monday.

Modine Manufacturing Trading Down 4.6 %

Shares of MOD stock opened at $83.09 on Wednesday. The business’s 50 day moving average is $100.07 and its two-hundred day moving average is $116.48. Modine Manufacturing has a twelve month low of $72.49 and a twelve month high of $146.84. The company has a market capitalization of $4.37 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48. 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 (NYSE:MOD) last posted its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 EPS for the quarter, beating 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%. Equities analysts forecast that Modine Manufacturing will post 3.88 EPS for the current year.

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

Insider Transactions at Modine Manufacturing

In other Modine Manufacturing news, Director William A. Wulfsohn acquired 2,530 shares of the stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $79.43 per share, with a total value of $200,957.90. Following the completion of the transaction, the director now directly 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 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.

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.