Charles Schwab Investment Management Inc. Sells 20,106 Shares of Modine Manufacturing (NYSE:MOD)

Charles Schwab Investment Management Inc. cut its holdings in shares of Modine Manufacturing (NYSE:MOD) by 3.3% during the 4th quarter, Holdings Channel reports. The firm owned 584,165 shares of the auto parts company’s stock after selling 20,106 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Modine Manufacturing were worth $67,722,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Entropy Technologies LP bought a new position in shares of Modine Manufacturing during the fourth quarter worth approximately $452,000. New York State Common Retirement Fund increased its holdings in shares of Modine Manufacturing by 9.9% during the fourth quarter. New York State Common Retirement Fund now owns 247,975 shares of the auto parts company’s stock worth $28,748,000 after purchasing an additional 22,259 shares during the period. Legend Financial Advisors Inc. increased its holdings in shares of Modine Manufacturing by 2.9% during the fourth quarter. Legend Financial Advisors Inc. now owns 9,929 shares of the auto parts company’s stock worth $1,151,000 after purchasing an additional 279 shares during the period. Peregrine Capital Management LLC increased its holdings in shares of Modine Manufacturing by 10.9% during the fourth quarter. Peregrine Capital Management LLC now owns 100,949 shares of the auto parts company’s stock worth $11,703,000 after purchasing an additional 9,920 shares during the period. Finally, Alberta Investment Management Corp increased its holdings in shares of Modine Manufacturing by 27.3% during the fourth quarter. Alberta Investment Management Corp now owns 58,437 shares of the auto parts company’s stock worth $6,775,000 after purchasing an additional 12,536 shares during the period. 95.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director William A. Wulfsohn purchased 2,530 shares of Modine Manufacturing stock in a transaction that occurred on Monday, March 3rd. The shares were acquired 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 of the company’s stock, valued at approximately $578,012.11. The trade was a 53.30 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.40% of the stock is currently owned by company insiders.

Modine Manufacturing Stock Up 3.8 %

Shares of MOD opened at $80.23 on Wednesday. Modine Manufacturing has a 12 month low of $72.49 and a 12 month high of $146.84. The firm’s 50 day moving average is $103.61 and its 200-day moving average is $117.63. The stock has a market capitalization of $4.22 billion, a PE ratio of 26.92, a P/E/G ratio of 0.71 and a beta of 2.48. 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 posted its quarterly earnings results 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 research analysts forecast that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing announced that its board has initiated a stock buyback program on Friday, March 7th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the auto parts company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Modine Manufacturing 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.