Sei Investments Co. Grows Position in Modine Manufacturing (NYSE:MOD)

Sei Investments Co. boosted its stake in Modine Manufacturing (NYSE:MOD) by 32.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 189,834 shares of the auto parts company’s stock after buying an additional 46,668 shares during the period. Sei Investments Co. owned approximately 0.36% of Modine Manufacturing worth $22,008,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MOD. American Century Companies Inc. raised its stake in shares of Modine Manufacturing by 20.0% in the 4th quarter. American Century Companies Inc. now owns 289,734 shares of the auto parts company’s stock valued at $33,589,000 after acquiring an additional 48,278 shares during the period. Blueshift Asset Management LLC acquired a new position in Modine Manufacturing during the fourth quarter worth $526,000. Teacher Retirement System of Texas boosted its position in shares of Modine Manufacturing by 21.0% during the fourth quarter. Teacher Retirement System of Texas now owns 8,519 shares of the auto parts company’s stock worth $988,000 after buying an additional 1,477 shares during the period. Xponance Inc. boosted its position in shares of Modine Manufacturing by 12.0% during the fourth quarter. Xponance Inc. now owns 3,776 shares of the auto parts company’s stock worth $438,000 after buying an additional 406 shares during the period. Finally, William Blair Investment Management LLC grew its stake in shares of Modine Manufacturing by 7.7% in the fourth quarter. William Blair Investment Management LLC now owns 247,400 shares of the auto parts company’s stock valued at $28,681,000 after buying an additional 17,599 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Insider Transactions at Modine Manufacturing

In other news, Director William A. Wulfsohn acquired 2,530 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was acquired 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

Modine Manufacturing Stock Performance

Shares of MOD stock opened at $86.68 on Thursday. The firm has a 50 day moving average of $96.12 and a two-hundred day moving average of $115.67. The stock has a market capitalization of $4.56 billion, a PE ratio of 29.09, a P/E/G 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 has a 52 week low of $72.49 and a 52 week high of $146.84.

Modine Manufacturing (NYSE:MOD) last released its 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%. On average, research analysts predict that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing declared that its board has initiated a stock buyback program on Friday, March 7th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the auto parts company to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

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.