Emerald Advisers LLC Cuts Position in Modine Manufacturing (NYSE:MOD)

Emerald Advisers LLC lessened its position in shares of Modine Manufacturing (NYSE:MOD) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 261,838 shares of the auto parts company’s stock after selling 2,511 shares during the quarter. Modine Manufacturing comprises 1.2% of Emerald Advisers LLC’s portfolio, making the stock its 29th biggest holding. Emerald Advisers LLC’s holdings in Modine Manufacturing were worth $30,355,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Modine Manufacturing by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 5,058,967 shares of the auto parts company’s stock valued at $586,486,000 after buying an additional 70,581 shares in the last quarter. FMR LLC increased its position in shares of Modine Manufacturing by 14.0% during the 3rd quarter. FMR LLC now owns 4,417,927 shares of the auto parts company’s stock valued at $586,657,000 after purchasing an additional 543,419 shares during the last quarter. State Street Corp increased its position in shares of Modine Manufacturing by 1.5% during the 3rd quarter. State Street Corp now owns 1,219,916 shares of the auto parts company’s stock valued at $161,993,000 after purchasing an additional 18,108 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Modine Manufacturing by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,170,958 shares of the auto parts company’s stock valued at $155,522,000 after purchasing an additional 9,648 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Modine Manufacturing by 2.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company’s stock valued at $153,072,000 after purchasing an additional 26,527 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Performance

Shares of Modine Manufacturing stock opened at $88.68 on Friday. The stock’s fifty day moving average is $98.13 and its two-hundred day moving average is $115.91. The company has a market capitalization 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 company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. Modine Manufacturing has a 52 week low of $72.49 and a 52 week high of $146.84.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. As a group, analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current year.

Modine Manufacturing declared that its Board of Directors has authorized a share 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 repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

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

Insider Buying and Selling at Modine Manufacturing

In other news, Director William A. Wulfsohn purchased 2,530 shares of the company’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 $578,012.11. This represents a 53.30 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is currently owned by corporate 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.