Skandinaviska Enskilda Banken AB publ Grows Position in Modine Manufacturing (NYSE:MOD)

Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Modine Manufacturing (NYSE:MOD) by 567.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 227 shares of the auto parts company’s stock after buying an additional 193 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Modine Manufacturing were worth $27,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Principal Securities Inc. boosted its position 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 last quarter. Private Trust Co. NA boosted its position 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 buying an additional 670 shares during the last quarter. Nisa Investment Advisors LLC boosted 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 valued at $157,000 after buying an additional 82 shares during the last quarter. KBC Group NV boosted its position in shares of Modine Manufacturing by 47.8% during the third quarter. KBC Group NV now owns 1,456 shares of the auto parts company’s stock valued at $193,000 after buying an additional 471 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Modine Manufacturing during the third quarter valued at $196,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at Modine Manufacturing

In related news, Director William A. Wulfsohn acquired 2,530 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of $79.43 per share, with a total value of $200,957.90. Following the completion of the purchase, the director now directly owns 7,277 shares of the company’s stock, valued at $578,012.11. This represents a 53.30 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Modine Manufacturing Trading Down 4.6 %

Shares of NYSE:MOD opened at $83.09 on Wednesday. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 27.88, a PEG 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. The stock’s 50-day simple moving average is $100.07 and its two-hundred day simple moving average is $116.48. Modine Manufacturing has a 52-week low of $72.49 and a 52-week high of $146.84.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. Analysts expect that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing announced that its Board of Directors has initiated a stock repurchase plan 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 reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management 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.