Bridge City Capital LLC Grows Holdings in Modine Manufacturing (NYSE:MOD)

Bridge City Capital LLC raised its position in Modine Manufacturing (NYSE:MOD) by 56.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,161 shares of the auto parts company’s stock after buying an additional 16,603 shares during the period. Modine Manufacturing makes up about 1.4% of Bridge City Capital LLC’s holdings, making the stock its 20th biggest holding. Bridge City Capital LLC owned approximately 0.09% of Modine Manufacturing worth $5,351,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Modine Manufacturing by 567.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company’s stock worth $27,000 after acquiring an additional 193 shares in the last quarter. Principal Securities Inc. boosted its stake in shares of Modine Manufacturing by 97.8% during the 4th 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 last quarter. Private Trust Co. NA boosted its stake in shares of Modine Manufacturing by 650.5% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock valued at $103,000 after buying an additional 670 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Modine Manufacturing by 6.5% during the fourth 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 in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Modine Manufacturing in the third quarter worth $196,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reissued a “buy” rating and set a $155.00 price objective on shares of Modine Manufacturing in a report on Monday, March 17th.

Insiders Place Their Bets

In related news, Director William A. Wulfsohn bought 2,530 shares of the company’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 completion of the transaction, the director now directly owns 7,277 shares of the company’s stock, valued at approximately $578,012.11. This represents a 53.30 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.40% of the stock is currently owned by corporate insiders.

Modine Manufacturing Price Performance

Shares of MOD opened at $88.68 on Friday. Modine Manufacturing has a 52 week low of $72.49 and a 52 week high of $146.84. 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 cap of $4.66 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 0.71 and a beta of 2.48. The stock has a 50 day moving average of $98.13 and a 200-day moving average of $115.91.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share 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, analysts forecast that Modine Manufacturing will post 3.88 EPS for the current year.

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