Modine Manufacturing (NYSE:MOD) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its position in shares of Modine Manufacturing (NYSE:MOD) by 10.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 627,148 shares of the auto parts company’s stock after selling 71,873 shares during the quarter. Wellington Management Group LLP owned approximately 1.19% of Modine Manufacturing worth $72,705,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MOD. Skandinaviska Enskilda Banken AB publ raised its stake in Modine Manufacturing by 567.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company’s stock worth $27,000 after purchasing an additional 193 shares during the period. Principal Securities Inc. raised its position 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 period. Nisa Investment Advisors LLC lifted its holdings in Modine Manufacturing by 6.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock valued at $157,000 after acquiring an additional 82 shares during the last quarter. Rothschild Investment LLC grew its position in Modine Manufacturing by 34.4% in the fourth quarter. Rothschild Investment LLC now owns 1,720 shares of the auto parts company’s stock worth $199,000 after acquiring an additional 440 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its stake in Modine Manufacturing by 8.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company’s stock worth $208,000 after acquiring an additional 136 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Analysts Set New Price Targets

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

Modine Manufacturing Stock Performance

NYSE:MOD opened at $70.29 on Friday. Modine Manufacturing has a fifty-two week low of $64.79 and a fifty-two week high of $146.84. 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 company has a 50 day moving average price of $87.93 and a 200 day moving average price of $114.23. The stock has a market capitalization of $3.70 billion, a P/E ratio of 23.59, a PEG ratio of 0.71 and a beta of 2.48.

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

Modine Manufacturing declared that its Board of Directors has approved a stock 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 reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Modine Manufacturing news, Director William A. Wulfsohn acquired 2,530 shares of the stock in a transaction dated Monday, March 3rd. The stock was acquired 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 owns 7,277 shares in the company, valued at $578,012.11. This trade represents a 53.30 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.40% of the company’s stock.

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.