4,834 Shares in Modine Manufacturing (NYSE:MOD) Bought by Cibc World Markets Corp

Cibc World Markets Corp purchased a new position in shares of Modine Manufacturing (NYSE:MOD) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,834 shares of the auto parts company’s stock, valued at approximately $560,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its position in Modine Manufacturing by 6.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock worth $157,000 after purchasing an additional 82 shares during the period. Arizona State Retirement System boosted its position in Modine Manufacturing by 0.8% during the 4th quarter. Arizona State Retirement System now owns 14,451 shares of the auto parts company’s stock worth $1,675,000 after purchasing an additional 118 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in Modine Manufacturing by 8.2% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company’s stock worth $208,000 after buying an additional 136 shares in the last quarter. Truist Financial Corp lifted its holdings in Modine Manufacturing by 0.5% in the 4th quarter. Truist Financial Corp now owns 34,267 shares of the auto parts company’s stock worth $3,973,000 after buying an additional 159 shares in the last quarter. Finally, Lisanti Capital Growth LLC lifted its holdings in Modine Manufacturing by 0.4% in the 4th quarter. Lisanti Capital Growth LLC now owns 50,825 shares of the auto parts company’s stock worth $5,892,000 after buying an additional 185 shares in the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity

In other Modine Manufacturing news, Director William A. Wulfsohn acquired 2,530 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of $79.43 per share, for a total transaction of $200,957.90. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.40% of the company’s stock.

Modine Manufacturing Stock Performance

Shares of Modine Manufacturing stock opened at $88.68 on Friday. The firm has a market cap of $4.66 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48. The firm’s 50-day simple moving average is $98.13 and its 200-day simple moving average is $115.91. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.87. Modine Manufacturing has a 1 year low of $72.49 and a 1 year high of $146.84.

Modine Manufacturing (NYSE:MOD) last issued 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 net margin of 6.31% and a return on equity of 24.25%. Equities analysts forecast that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing announced that its board has authorized a stock repurchase program 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 buy up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership 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.