Modine Manufacturing (NYSE:MOD) Shares Purchased by Portolan Capital Management LLC

Portolan Capital Management LLC grew its position in Modine Manufacturing (NYSE:MOD) by 57.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 328,899 shares of the auto parts company’s stock after purchasing an additional 120,133 shares during the period. Modine Manufacturing makes up approximately 2.6% of Portolan Capital Management LLC’s investment portfolio, making the stock its 4th largest holding. Portolan Capital Management LLC’s holdings in Modine Manufacturing were worth $38,129,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nisa Investment Advisors LLC grew its stake 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 acquiring an additional 82 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Modine Manufacturing by 0.8% during 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. grew its holdings in shares of 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 valued at $208,000 after acquiring an additional 136 shares in the last quarter. Summit Investment Advisors Inc. increased its position in shares of Modine Manufacturing by 2.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,284 shares of the auto parts company’s stock valued at $613,000 after acquiring an additional 146 shares during the last quarter. Finally, Signaturefd LLC grew its stake in Modine Manufacturing by 6.0% in the fourth quarter. Signaturefd LLC now owns 2,786 shares of the auto parts company’s stock valued at $323,000 after purchasing an additional 157 shares in the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Modine Manufacturing Stock Down 0.6 %

MOD stock opened at $76.90 on Monday. Modine Manufacturing has a 1-year low of $64.79 and a 1-year high of $146.84. The business’s 50 day simple moving average is $84.89 and its 200 day simple moving average is $111.70. The company has a current ratio of 1.87, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $4.04 billion, a PE ratio of 25.80, a PEG ratio of 0.71 and a beta of 2.19.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data 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 net margin of 6.31% and a return on equity of 24.25%. As a group, research analysts anticipate that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing declared that its board has approved a share repurchase 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reissued a “buy” rating and issued a $155.00 price objective on shares of Modine Manufacturing in a 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.