Segall Bryant & Hamill LLC Has $21.69 Million Stake in Modine Manufacturing (NYSE:MOD)

Segall Bryant & Hamill LLC reduced its holdings in Modine Manufacturing (NYSE:MOD) by 8.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 187,076 shares of the auto parts company’s stock after selling 17,436 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Modine Manufacturing were worth $21,688,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wasatch Advisors LP bought a new position in shares of Modine Manufacturing in the 3rd quarter worth $91,193,000. FMR LLC boosted its holdings in Modine Manufacturing by 14.0% during the third quarter. FMR LLC now owns 4,417,927 shares of the auto parts company’s stock worth $586,657,000 after buying an additional 543,419 shares during the last quarter. Summit Partners Public Asset Management LLC acquired a new position in shares of Modine Manufacturing during the 3rd quarter worth about $31,961,000. Raymond James Financial Inc. bought a new stake in shares of Modine Manufacturing in the 4th quarter valued at about $19,719,000. Finally, Vanguard Group Inc. raised its position in shares of Modine Manufacturing by 1.4% in 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 acquiring an additional 70,581 shares during the period. 95.23% of the stock is owned by institutional investors.

Insider Activity

In other Modine Manufacturing news, Director William A. Wulfsohn bought 2,530 shares of Modine Manufacturing stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average price of $79.43 per share, for a total transaction of $200,957.90. Following the completion of the acquisition, the director now owns 7,277 shares of the company’s stock, valued at $578,012.11. This trade represents a 53.30 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

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

Modine Manufacturing Stock Up 4.7 %

Shares of Modine Manufacturing stock opened at $92.76 on Tuesday. Modine Manufacturing has a 1 year low of $72.49 and a 1 year high of $146.84. 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 has a market capitalization of $4.88 billion, a P/E ratio of 31.13, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48. The business has a 50-day moving average of $97.61 and a two-hundred day moving average of $115.90.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share 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%. As a group, equities analysts predict that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing announced that its board has initiated a share 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 buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

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.