Artisan Partners Limited Partnership Purchases 106,033 Shares of Modine Manufacturing (NYSE:MOD)

Artisan Partners Limited Partnership boosted its position in shares of Modine Manufacturing (NYSE:MOD) by 22.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 575,223 shares of the auto parts company’s stock after buying an additional 106,033 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Modine Manufacturing were worth $66,686,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Pathstone Holdings LLC grew its position in shares of Modine Manufacturing by 48.2% during the 3rd quarter. Pathstone Holdings LLC now owns 10,421 shares of the auto parts company’s stock worth $1,384,000 after buying an additional 3,391 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Modine Manufacturing by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 604,271 shares of the auto parts company’s stock worth $80,241,000 after acquiring an additional 6,871 shares during the period. Citigroup Inc. grew its holdings in Modine Manufacturing by 86.6% during the 3rd quarter. Citigroup Inc. now owns 50,229 shares of the auto parts company’s stock worth $6,670,000 after acquiring an additional 23,314 shares during the period. Algert Global LLC raised its position in shares of Modine Manufacturing by 122.5% during the 3rd quarter. Algert Global LLC now owns 11,110 shares of the auto parts company’s stock valued at $1,475,000 after acquiring an additional 6,116 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Modine Manufacturing in the 3rd quarter valued at $196,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

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 note on Monday, March 17th.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, Director William A. Wulfsohn acquired 2,530 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $79.43 per share, for a total transaction of $200,957.90. Following the acquisition, the director now directly 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.40% of the company’s stock.

Modine Manufacturing Stock Down 7.5 %

Shares of NYSE MOD opened at $80.11 on Friday. Modine Manufacturing has a 52-week low of $72.49 and a 52-week high of $146.84. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.87. The stock has a market cap of $4.21 billion, a P/E ratio of 26.88, a P/E/G ratio of 0.71 and a beta of 2.48. The firm has a 50 day moving average price of $95.07 and a 200 day moving average price of $115.42.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.13. Modine Manufacturing had a net margin of 6.31% and a return on equity of 24.25%. Analysts expect that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing declared that its Board of Directors has authorized a share buyback 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 stock is 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.