Situational Awareness LP Takes $7.69 Million Position in Modine Manufacturing (NYSE:MOD)

Situational Awareness LP purchased a new position in shares of Modine Manufacturing (NYSE:MOD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 66,367 shares of the auto parts company’s stock, valued at approximately $7,694,000. Modine Manufacturing comprises 3.0% of Situational Awareness LP’s investment portfolio, making the stock its 6th biggest holding. Situational Awareness LP owned about 0.13% of Modine Manufacturing at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of MOD. Cannon Global Investment Management LLC raised its position in Modine Manufacturing by 37.1% during the 4th quarter. Cannon Global Investment Management LLC now owns 4,800 shares of the auto parts company’s stock worth $556,000 after buying an additional 1,300 shares during the last quarter. Vanguard Group Inc. raised its holdings in Modine Manufacturing by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 5,058,967 shares of the auto parts company’s stock worth $586,486,000 after purchasing an additional 70,581 shares in the last quarter. Bridge City Capital LLC raised its holdings in Modine Manufacturing by 56.2% during the fourth quarter. Bridge City Capital LLC now owns 46,161 shares of the auto parts company’s stock worth $5,351,000 after purchasing an additional 16,603 shares in the last quarter. LPL Financial LLC lifted its position in Modine Manufacturing by 3.7% in the fourth quarter. LPL Financial LLC now owns 50,358 shares of the auto parts company’s stock valued at $5,838,000 after purchasing an additional 1,790 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in Modine Manufacturing in the 4th quarter valued at approximately $1,171,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, Director William A. Wulfsohn acquired 2,530 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $79.43 per share, for a total transaction of $200,957.90. Following the acquisition, the director now directly owns 7,277 shares in the company, valued at approximately $578,012.11. The trade was a 53.30 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.40% of the stock is owned by corporate insiders.

Modine Manufacturing Stock Up 0.8 %

Shares of NYSE MOD opened at $93.53 on Wednesday. Modine Manufacturing has a 52 week low of $72.49 and a 52 week high of $146.84. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48. The firm has a 50-day moving average price of $96.99 and a 200 day moving average price of $115.87.

Modine Manufacturing (NYSE:MOD) last posted 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 net margin of 6.31% and a return on equity of 24.25%. Equities research analysts anticipate that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing declared that its board has authorized a share buyback program on Friday, March 7th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is 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.