Franklin Resources Inc. Boosts Holdings in Modine Manufacturing (NYSE:MOD)

Franklin Resources Inc. increased its position in shares of Modine Manufacturing (NYSE:MOD) by 18.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 315,002 shares of the auto parts company’s stock after buying an additional 48,271 shares during the quarter. Franklin Resources Inc.’s holdings in Modine Manufacturing were worth $36,518,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. AG raised its position in Modine Manufacturing by 54.1% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 15,217 shares of the auto parts company’s stock valued at $1,764,000 after purchasing an additional 5,343 shares during the period. Axiom Investors LLC DE increased its position in shares of Modine Manufacturing by 6.9% during the 4th quarter. Axiom Investors LLC DE now owns 184,630 shares of the auto parts company’s stock worth $21,404,000 after purchasing an additional 11,899 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in Modine Manufacturing in the 4th quarter valued at about $18,930,000. CIBC Private Wealth Group LLC lifted its position in Modine Manufacturing by 1,257.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 10,422 shares of the auto parts company’s stock valued at $1,262,000 after buying an additional 9,654 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in Modine Manufacturing by 23.6% in the fourth quarter. California Public Employees Retirement System now owns 85,690 shares of the auto parts company’s stock valued at $9,934,000 after buying an additional 16,376 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, Director William A. Wulfsohn bought 2,530 shares of Modine Manufacturing stock in a transaction on Monday, March 3rd. The shares were bought 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 $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 SEC, which can be accessed through the SEC website. Company insiders own 2.40% of the company’s stock.

Modine Manufacturing Trading Down 3.2 %

Shares of NYSE MOD opened at $70.29 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $3.70 billion, a PE ratio of 23.59, a PEG ratio of 0.71 and a beta of 2.19. Modine Manufacturing has a twelve month low of $64.79 and a twelve month high of $146.84. The stock has a fifty day simple moving average of $87.93 and a 200-day simple moving average of $114.22.

Modine Manufacturing (NYSE:MOD) last announced 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 initiated a stock repurchase plan on Friday, March 7th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.