Peak6 LLC Buys Shares of 5,333 Modine Manufacturing (NYSE:MOD)

Peak6 LLC bought a new position in shares of Modine Manufacturing (NYSE:MOD) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 5,333 shares of the auto parts company’s stock, valued at approximately $618,000.

Several other large investors also recently modified their holdings of the business. Norges Bank acquired a new position in shares of Modine Manufacturing in the 4th quarter valued at approximately $31,590,000. Raymond James Financial Inc. acquired a new stake in shares of Modine Manufacturing during the fourth quarter worth $19,719,000. Clearbridge Investments LLC bought a new stake in Modine Manufacturing in the 4th quarter valued at $18,930,000. Massachusetts Financial Services Co. MA acquired a new position in Modine Manufacturing in the 4th quarter worth $16,434,000. Finally, Portolan Capital Management LLC increased its holdings in Modine Manufacturing by 57.5% during the 4th quarter. Portolan Capital Management LLC now owns 328,899 shares of the auto parts company’s stock worth $38,129,000 after purchasing an additional 120,133 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Trading Up 0.6 %

Shares of NYSE:MOD opened at $75.86 on Monday. The company’s 50-day moving average price is $82.55 and its two-hundred day moving average price is $109.79. Modine Manufacturing has a one year low of $64.79 and a one year high of $146.84. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18. The stock has a market capitalization of $3.99 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 0.71 and a beta of 2.19.

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, 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%. On average, equities analysts forecast that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

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

Insider Activity

In other news, Director William A. Wulfsohn bought 2,530 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were bought at an average cost of $79.43 per share, with a total value of $200,957.90. Following the acquisition, the director now owns 7,277 shares in the company, valued at $578,012.11. This trade represents a 53.30 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

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.