Peak6 LLC Invests $618,000 in Modine Manufacturing (NYSE:MOD)

Peak6 LLC bought a new stake in Modine Manufacturing (NYSE:MOD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,333 shares of the auto parts company’s stock, valued at approximately $618,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ lifted its position in shares of 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 worth $27,000 after buying an additional 193 shares during the period. Principal Securities Inc. raised its stake in Modine Manufacturing by 97.8% during the fourth quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock worth $63,000 after acquiring an additional 269 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Modine Manufacturing by 6.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock valued at $157,000 after acquiring an additional 82 shares during the period. Rothschild Investment LLC boosted its stake in shares of Modine Manufacturing by 34.4% in 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 in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of 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 valued at $208,000 after purchasing an additional 136 shares in the last quarter. 95.23% of the stock is owned by institutional investors.

Modine Manufacturing Price Performance

Shares of MOD stock opened at $75.86 on Monday. Modine Manufacturing has a 52 week low of $64.79 and a 52 week high of $146.84. The stock has a market capitalization of $3.99 billion, a PE ratio of 25.45, a PEG ratio of 0.71 and a beta of 2.19. 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’s fifty day moving average is $82.55 and its 200-day moving average is $109.79.

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 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 research analysts expect that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing announced that its Board of Directors has approved a stock repurchase program 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 stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, Director William A. Wulfsohn purchased 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, with a total value of $200,957.90. Following the completion of the purchase, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.40% of the company’s stock.

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.