Blueshift Asset Management LLC Makes New $526,000 Investment in Modine Manufacturing (NYSE:MOD)

Blueshift Asset Management LLC bought a new position in Modine Manufacturing (NYSE:MOD) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 4,538 shares of the auto parts company’s stock, valued at approximately $526,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MOD. Wasatch Advisors LP acquired a new stake in shares of Modine Manufacturing in the 3rd quarter worth $91,193,000. FMR LLC increased its stake in shares of Modine Manufacturing by 14.0% in the 3rd quarter. FMR LLC now owns 4,417,927 shares of the auto parts company’s stock worth $586,657,000 after acquiring an additional 543,419 shares during the last quarter. Summit Partners Public Asset Management LLC acquired a new stake in shares of Modine Manufacturing in the 3rd quarter worth $31,961,000. Raymond James Financial Inc. acquired a new stake in shares of Modine Manufacturing during the 4th quarter worth about $19,719,000. Finally, Eagle Asset Management Inc. acquired a new stake in shares of Modine Manufacturing during the 3rd quarter worth about $9,379,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Stock Up 0.1 %

Shares of NYSE:MOD opened at $87.83 on Friday. The business has a 50-day moving average price of $98.73 and a 200 day moving average price of $116.09. 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 company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 0.71 and a beta of 2.48. Modine Manufacturing has a 12-month low of $72.49 and a 12-month 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 for the quarter, beating 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%. Sell-side analysts expect that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing declared that its Board of Directors has initiated a stock repurchase plan on Friday, March 7th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the auto parts company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

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

Insider Buying and Selling at Modine Manufacturing

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

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.