Modine Manufacturing (NYSE:MOD) Shares Purchased by Natixis Advisors LLC

Natixis Advisors LLC raised its stake in Modine Manufacturing (NYSE:MOD) by 16.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,204 shares of the auto parts company’s stock after acquiring an additional 2,234 shares during the quarter. Natixis Advisors LLC’s holdings in Modine Manufacturing were worth $1,879,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MOD. Skandinaviska Enskilda Banken AB publ lifted its holdings in Modine Manufacturing by 567.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company’s stock valued at $27,000 after purchasing an additional 193 shares in the last quarter. Principal Securities Inc. lifted its stake in shares of Modine Manufacturing by 97.8% during the fourth quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock valued at $63,000 after buying an additional 269 shares during the period. Private Trust Co. NA boosted its position in Modine Manufacturing by 650.5% during the third quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock worth $103,000 after acquiring an additional 670 shares during the last quarter. Nisa Investment Advisors LLC grew its stake 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 acquiring an additional 82 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new position in Modine Manufacturing in the 3rd quarter valued at $196,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Stock Up 4.7 %

Shares of MOD opened at $92.76 on Tuesday. Modine Manufacturing has a fifty-two week low of $72.49 and a fifty-two week high of $146.84. The company’s fifty day moving average is $97.61 and its two-hundred day moving average is $115.90. The firm has a market cap of $4.88 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48. The company has a quick ratio of 1.18, a current ratio of 1.87 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. Analysts forecast that Modine Manufacturing will post 3.88 earnings per share for the current year.

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

Insider Buying and Selling

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 stock was purchased at an average cost of $79.43 per share, with a total value of $200,957.90. Following the transaction, the director now 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

Modine Manufacturing Company 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.