Modine Manufacturing (NYSE:MOD) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. trimmed its holdings in Modine Manufacturing (NYSE:MOD) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 960,731 shares of the auto parts company’s stock after selling 14,448 shares during the period. Alliancebernstein L.P.’s holdings in Modine Manufacturing were worth $111,378,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Skandinaviska Enskilda Banken AB publ boosted its stake in Modine Manufacturing by 567.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company’s stock valued at $27,000 after acquiring an additional 193 shares during the last quarter. Principal Securities Inc. lifted its position in shares of Modine Manufacturing by 97.8% during the fourth quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock worth $63,000 after purchasing an additional 269 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Modine Manufacturing by 6.5% during the fourth 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 last quarter. Rothschild Investment LLC grew its stake 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 purchasing an additional 440 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in Modine Manufacturing by 8.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company’s stock valued at $208,000 after buying an additional 136 shares during the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Modine Manufacturing Trading Up 6.4 %

NYSE MOD opened at $85.37 on Thursday. 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 one year low of $72.49 and a one year high of $146.84. The company has a 50-day simple moving average of $90.52 and a 200-day simple moving average of $114.82. The firm has a market capitalization of $4.49 billion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48.

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

Modine Manufacturing announced that its Board of Directors has approved a stock repurchase plan on Friday, March 7th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the auto parts company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, Director William A. Wulfsohn acquired 2,530 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $79.43 per share, for a total transaction of $200,957.90. Following the transaction, the director now directly owns 7,277 shares in the company, valued at $578,012.11. This trade represents a 53.30 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.40% of the stock is owned by company 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.