Royce & Associates LP Trims Position in Modine Manufacturing (NYSE:MOD)

Royce & Associates LP lessened its stake in Modine Manufacturing (NYSE:MOD) by 15.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 177,852 shares of the auto parts company’s stock after selling 32,395 shares during the period. Royce & Associates LP’s holdings in Modine Manufacturing were worth $20,618,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. increased its stake in Modine Manufacturing by 8.2% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company’s stock worth $208,000 after buying an additional 136 shares during the period. Natixis Advisors LLC increased its stake in Modine Manufacturing by 16.0% in the 4th quarter. Natixis Advisors LLC now owns 16,204 shares of the auto parts company’s stock worth $1,879,000 after buying an additional 2,234 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in Modine Manufacturing by 567.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company’s stock worth $27,000 after buying an additional 193 shares during the period. Swiss National Bank increased its stake in Modine Manufacturing by 0.8% in the 4th quarter. Swiss National Bank now owns 98,000 shares of the auto parts company’s stock worth $11,361,000 after buying an additional 800 shares during the period. Finally, Truvestments Capital LLC increased its stake in Modine Manufacturing by 20.4% in the 4th quarter. Truvestments Capital LLC now owns 8,386 shares of the auto parts company’s stock worth $972,000 after buying an additional 1,423 shares during the period. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, Director William A. Wulfsohn bought 2,530 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $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 this hyperlink. Insiders own 2.40% of the company’s stock.

Modine Manufacturing Trading Up 4.0 %

MOD stock opened at $85.36 on Monday. 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 $4.49 billion, a PE ratio of 28.65, a P/E/G ratio of 0.71 and a beta of 2.48. The firm’s 50-day moving average is $101.55 and its 200 day moving average is $116.96. Modine Manufacturing has a 12 month low of $72.49 and a 12 month high of $146.84.

Modine Manufacturing (NYSE:MOD) last posted 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 net margin of 6.31% and a return on equity of 24.25%. On average, research analysts anticipate that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing declared that its board has approved a share repurchase plan on Friday, March 7th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the auto parts company to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is 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.