Intrust Bank NA Increases Stake in Modine Manufacturing (NYSE:MOD)

Intrust Bank NA grew its stake in shares of Modine Manufacturing (NYSE:MOD) by 9.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,764 shares of the auto parts company’s stock after buying an additional 587 shares during the quarter. Intrust Bank NA’s holdings in Modine Manufacturing were worth $784,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ boosted its position in Modine Manufacturing by 567.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company’s stock valued at $27,000 after buying an additional 193 shares during the period. Principal Securities Inc. raised its stake in shares of Modine Manufacturing by 97.8% during the fourth quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock valued at $63,000 after acquiring an additional 269 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of Modine Manufacturing by 650.5% during the third quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock worth $103,000 after purchasing an additional 670 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Modine Manufacturing by 6.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock worth $157,000 after purchasing an additional 82 shares during the last quarter. Finally, Rothschild Investment LLC increased its holdings in Modine Manufacturing by 34.4% during the 4th quarter. Rothschild Investment LLC now owns 1,720 shares of the auto parts company’s stock valued at $199,000 after purchasing an additional 440 shares during the period. Institutional investors own 95.23% of the company’s stock.

Insider Activity

In other Modine Manufacturing news, Director William A. Wulfsohn bought 2,530 shares of Modine Manufacturing stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $79.43 per share, with a total value of $200,957.90. Following the transaction, the director now directly owns 7,277 shares of the company’s stock, valued at $578,012.11. This represents a 53.30 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Modine Manufacturing Stock Down 1.1 %

Shares of NYSE MOD opened at $79.12 on Friday. The firm has a fifty day simple moving average of $93.98 and a two-hundred day simple moving average of $115.43. Modine Manufacturing has a 12 month low of $72.49 and a 12 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 firm has a market capitalization of $4.16 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 EPS for the quarter, topping 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%. Equities analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current year.

Modine Manufacturing declared that its Board of Directors has authorized a share buyback plan on Friday, March 7th that allows the company to buyback $100.00 million in 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 usually a sign that the company’s board 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.