Cynosure Group LLC Sells 445 Shares of Modine Manufacturing (NYSE:MOD)

Cynosure Group LLC lowered its position in Modine Manufacturing (NYSE:MOD) by 14.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,532 shares of the auto parts company’s stock after selling 445 shares during the period. Cynosure Group LLC’s holdings in Modine Manufacturing were worth $294,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. William Blair Investment Management LLC lifted its holdings in Modine Manufacturing by 7.7% in the fourth quarter. William Blair Investment Management LLC now owns 247,400 shares of the auto parts company’s stock valued at $28,681,000 after buying an additional 17,599 shares during the period. Entropy Technologies LP acquired a new position in shares of Modine Manufacturing in the 4th quarter valued at about $452,000. New York State Common Retirement Fund boosted its position in shares of Modine Manufacturing by 9.9% during the 4th quarter. New York State Common Retirement Fund now owns 247,975 shares of the auto parts company’s stock valued at $28,748,000 after purchasing an additional 22,259 shares in the last quarter. Legend Financial Advisors Inc. grew its stake in Modine Manufacturing by 2.9% during the fourth quarter. Legend Financial Advisors Inc. now owns 9,929 shares of the auto parts company’s stock worth $1,151,000 after purchasing an additional 279 shares during the period. Finally, Peregrine Capital Management LLC increased its holdings in Modine Manufacturing by 10.9% in the fourth quarter. Peregrine Capital Management LLC now owns 100,949 shares of the auto parts company’s stock worth $11,703,000 after purchasing an additional 9,920 shares in the last quarter. 95.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Modine Manufacturing Price Performance

MOD stock opened at $72.69 on Friday. 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 company’s 50-day moving average is $89.18 and its 200-day moving average is $114.53. The stock has a market capitalization of $3.82 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48. Modine Manufacturing has a 1 year low of $70.85 and a 1 year 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 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%. Equities research analysts expect that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing declared that its Board of Directors has initiated a stock buyback plan 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 reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, Director William A. Wulfsohn purchased 2,530 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $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 Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is currently owned by insiders.

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.