Two Sigma Securities LLC Makes New Investment in Modine Manufacturing (NYSE:MOD)

Two Sigma Securities LLC acquired a new stake in Modine Manufacturing (NYSE:MOD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,975 shares of the auto parts company’s stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MOD. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Modine Manufacturing by 567.6% during the fourth 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. lifted its holdings in Modine Manufacturing by 97.8% during the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock worth $63,000 after buying an additional 269 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in 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 valued at $157,000 after purchasing an additional 82 shares in the last quarter. Rothschild Investment LLC boosted its holdings 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 buying an additional 440 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in Modine Manufacturing by 8.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company’s stock worth $208,000 after acquiring an additional 136 shares in the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Modine Manufacturing

In other news, Director William A. Wulfsohn acquired 2,530 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $79.43 per share, for a total transaction of $200,957.90. Following the transaction, the director now owns 7,277 shares in the company, valued at $578,012.11. This represents a 53.30 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Modine Manufacturing Stock Performance

Shares of MOD opened at $81.77 on Wednesday. The company’s 50 day simple moving average is $80.38 and its 200-day simple moving average is $107.23. The firm has a market cap of $4.30 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 0.71 and a beta of 2.19. Modine Manufacturing has a 12-month low of $64.79 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.

Modine Manufacturing (NYSE:MOD) last issued 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%. As a group, equities analysts predict that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing announced that its Board of Directors has approved a share buyback plan on Friday, March 7th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the auto parts company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership 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.