Point72 Asia Singapore Pte. Ltd. Invests $172,000 in Modine Manufacturing (NYSE:MOD)

Point72 Asia Singapore Pte. Ltd. acquired a new position in Modine Manufacturing (NYSE:MOD) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,483 shares of the auto parts company’s stock, valued at approximately $172,000.

Other institutional investors have also made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ increased its stake in 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 valued at $27,000 after acquiring an additional 193 shares during the period. Principal Securities Inc. raised its holdings in Modine Manufacturing by 97.8% in the 4th 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 in the last quarter. Nisa Investment Advisors LLC raised its holdings in Modine Manufacturing by 6.5% in the 4th 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 in the last quarter. Rothschild Investment LLC raised its holdings in 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 acquiring an additional 440 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in 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 acquiring an additional 136 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors.

Insider Transactions at Modine Manufacturing

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

Modine Manufacturing Trading Up 2.0%

Modine Manufacturing stock opened at $104.49 on Friday. The business has a 50 day moving average price of $84.02 and a two-hundred day moving average price of $104.23. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 35.06, a price-to-earnings-growth ratio of 0.71 and a beta of 2.08. Modine Manufacturing has a 12 month low of $64.79 and a 12 month high of $146.84.

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

Analyst Ratings Changes

Separately, DA Davidson reaffirmed a “buy” rating and issued a $155.00 price target on shares of Modine Manufacturing in a 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.