Modine Manufacturing (NYSE:MOD) Shares Sold by Teton Advisors Inc.

Teton Advisors Inc. reduced its position in Modine Manufacturing (NYSE:MOD) by 6.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,000 shares of the auto parts company’s stock after selling 200 shares during the period. Teton Advisors Inc.’s holdings in Modine Manufacturing were worth $348,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. William Blair Investment Management LLC grew its position in shares of Modine Manufacturing by 7.7% in the fourth quarter. William Blair Investment Management LLC now owns 247,400 shares of the auto parts company’s stock valued at $28,681,000 after purchasing an additional 17,599 shares during the period. Entropy Technologies LP purchased a new stake in Modine Manufacturing in the 4th quarter valued at about $452,000. New York State Common Retirement Fund increased its stake in shares of Modine Manufacturing by 9.9% during the 4th quarter. New York State Common Retirement Fund now owns 247,975 shares of the auto parts company’s stock valued at $28,748,000 after acquiring an additional 22,259 shares during the last quarter. Legend Financial Advisors Inc. lifted its holdings in shares of Modine Manufacturing by 2.9% during the 4th quarter. Legend Financial Advisors Inc. now owns 9,929 shares of the auto parts company’s stock worth $1,151,000 after acquiring an additional 279 shares during the period. Finally, Peregrine Capital Management LLC boosted its position in shares of Modine Manufacturing by 10.9% in the fourth quarter. Peregrine Capital Management LLC now owns 100,949 shares of the auto parts company’s stock worth $11,703,000 after acquiring an additional 9,920 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Modine Manufacturing

In related news, Director William A. Wulfsohn acquired 2,530 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was bought at an average cost of $79.43 per share, with a total value of $200,957.90. Following the acquisition, the director now directly owns 7,277 shares in the company, valued at approximately $578,012.11. The trade was a 53.30 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.40% of the company’s stock.

Modine Manufacturing Stock Performance

NYSE MOD opened at $77.51 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18. Modine Manufacturing has a 1-year low of $64.79 and a 1-year high of $146.84. The firm has a market capitalization of $4.08 billion, a P/E ratio of 26.01, a P/E/G ratio of 0.71 and a beta of 2.19. The business’s 50-day simple moving average is $84.31 and its 200-day simple moving average is $111.32.

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

Modine Manufacturing declared that its Board of Directors has approved a stock repurchase program on Friday, March 7th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the auto parts company to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

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

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.