Proficio Capital Partners LLC Takes Position in Modine Manufacturing (NYSE:MOD)

Proficio Capital Partners LLC acquired a new position in shares of Modine Manufacturing (NYSE:MOD) during the 4th quarter, Holdings Channel.com reports. The fund acquired 16,926 shares of the auto parts company’s stock, valued at approximately $1,962,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Securities Inc. grew its stake in shares of Modine Manufacturing by 97.8% in 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 increased its holdings in shares of Modine Manufacturing by 650.5% during the third quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock valued at $103,000 after acquiring an additional 670 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of 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 purchasing an additional 82 shares during the last quarter. KBC Group NV boosted its stake in Modine Manufacturing by 47.8% in the 3rd quarter. KBC Group NV now owns 1,456 shares of the auto parts company’s stock worth $193,000 after purchasing an additional 471 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in Modine Manufacturing during the 3rd quarter valued at about $196,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

MOD opened at $87.79 on Thursday. The company’s 50-day simple moving average is $99.40 and its two-hundred day simple moving average is $116.28. Modine Manufacturing has a 52-week low of $72.49 and a 52-week high of $146.84. The stock has a market capitalization of $4.62 billion, a P/E ratio of 29.46, a P/E/G ratio of 0.71 and a beta of 2.48. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.87.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, February 4th. The auto parts company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates 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, analysts predict that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing announced that its board has initiated a stock buyback plan on Friday, March 7th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the auto parts company to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, Director William A. Wulfsohn purchased 2,530 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $79.43 per share, for a total transaction of $200,957.90. Following the purchase, the director now directly owns 7,277 shares of the company’s stock, valued at $578,012.11. The trade was a 53.30 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.40% of the stock is owned by corporate insiders.

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.