Modine Manufacturing (NYSE:MOD) Shares Purchased by William Blair Investment Management LLC

William Blair Investment Management LLC increased its position in shares of Modine Manufacturing (NYSE:MOD) by 7.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 247,400 shares of the auto parts company’s stock after acquiring an additional 17,599 shares during the period. William Blair Investment Management LLC owned about 0.47% of Modine Manufacturing worth $28,681,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MOD. Wasatch Advisors LP acquired a new position in Modine Manufacturing during the 3rd quarter worth about $91,193,000. FMR LLC lifted its stake in Modine Manufacturing by 14.0% during 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 in the last quarter. Summit Partners Public Asset Management LLC acquired a new position in Modine Manufacturing during the 3rd quarter worth about $31,961,000. Raymond James Financial Inc. acquired a new position in Modine Manufacturing during the 4th quarter worth about $19,719,000. Finally, Eagle Asset Management Inc. acquired a new position in Modine Manufacturing during the 3rd quarter worth about $9,379,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

MOD stock opened at $83.09 on Wednesday. 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 firm has a market capitalization of $4.37 billion, a P/E ratio of 27.88, a P/E/G ratio of 0.71 and a beta of 2.48. The business’s 50-day moving average is $100.07 and its two-hundred day moving average is $116.48. Modine Manufacturing has a 1 year low of $72.49 and a 1 year high of $146.84.

Modine Manufacturing (NYSE:MOD) last posted its quarterly 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 return on equity of 24.25% and a net margin of 6.31%. Analysts anticipate that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing announced that its Board of Directors 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 reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Modine Manufacturing

In other Modine Manufacturing news, Director William A. Wulfsohn bought 2,530 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $79.43 per share, with a total value of $200,957.90. Following the transaction, the director now owns 7,277 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.