Modine Manufacturing (NYSE:MOD) Shares Bought by Axiom Investors LLC DE

Axiom Investors LLC DE grew its stake in Modine Manufacturing (NYSE:MOD) by 6.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 184,630 shares of the auto parts company’s stock after purchasing an additional 11,899 shares during the period. Axiom Investors LLC DE’s holdings in Modine Manufacturing were worth $21,404,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Modine Manufacturing during the fourth quarter worth about $31,590,000. Raymond James Financial Inc. acquired a new position in Modine Manufacturing during the fourth quarter worth approximately $19,719,000. Clearbridge Investments LLC purchased a new stake in Modine Manufacturing in the fourth quarter valued at approximately $18,930,000. Artisan Partners Limited Partnership grew its position in shares of Modine Manufacturing by 22.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 575,223 shares of the auto parts company’s stock worth $66,686,000 after acquiring an additional 106,033 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings 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 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 note on Monday, March 17th.

Insider Transactions at Modine Manufacturing

In other Modine Manufacturing news, Director William A. Wulfsohn acquired 2,530 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was purchased at an average price of $79.43 per share, for a total transaction of $200,957.90. Following the completion of the transaction, the director now owns 7,277 shares of the company’s stock, valued at $578,012.11. The trade was a 53.30 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.40% of the company’s stock.

Modine Manufacturing Trading Down 1.1 %

Shares of MOD stock opened at $79.12 on Monday. Modine Manufacturing has a twelve month low of $72.49 and a twelve month high of $146.84. 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 business’s 50 day moving average is $93.98 and its two-hundred day moving average is $115.48. The company has a market capitalization of $4.16 billion, a P/E ratio of 26.55, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48.

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, topping 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 analysts forecast that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing announced that its Board of Directors has approved a stock buyback plan on Friday, March 7th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the auto parts company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are 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.