Wealthfront Advisers LLC Acquires New Shares in Modine Manufacturing (NYSE:MOD)

Wealthfront Advisers LLC purchased a new stake in shares of Modine Manufacturing (NYSE:MOD) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 65,804 shares of the auto parts company’s stock, valued at approximately $8,066,000. Wealthfront Advisers LLC owned approximately 0.13% of Modine Manufacturing at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Principal Securities Inc. grew its position in shares of Modine Manufacturing by 97.8% during the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock valued at $63,000 after purchasing an additional 269 shares in the last quarter. Private Trust Co. NA grew its position in shares of Modine Manufacturing by 650.5% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock valued at $103,000 after purchasing an additional 670 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of 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 valued at $157,000 after purchasing an additional 82 shares in the last quarter. KBC Group NV grew its position in shares of Modine Manufacturing by 47.8% during the 3rd quarter. KBC Group NV now owns 1,456 shares of the auto parts company’s stock valued at $193,000 after purchasing an additional 471 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Modine Manufacturing during the 3rd quarter valued at $196,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Modine Manufacturing

In related news, Director William A. Wulfsohn acquired 2,530 shares of the company’s stock in a transaction dated 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 acquisition, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is currently owned by insiders.

Modine Manufacturing Stock Up 5.3 %

MOD opened at $84.28 on Thursday. The company has a fifty day moving average price of $102.98 and a 200-day moving average price of $117.40. The firm has a market capitalization of $4.43 billion, a P/E ratio of 28.28, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18. Modine Manufacturing has a one year low of $72.49 and a one year high of $146.84.

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

Modine Manufacturing announced that its board has initiated a share repurchase program on Friday, March 7th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the auto parts company to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board 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.