Schroder Investment Management Group Has $1.97 Million Holdings in Modine Manufacturing (NYSE:MOD)

Schroder Investment Management Group raised its holdings in Modine Manufacturing (NYSE:MOD) by 327.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,741 shares of the auto parts company’s stock after acquiring an additional 12,827 shares during the period. Schroder Investment Management Group’s holdings in Modine Manufacturing were worth $1,969,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MOD. Nisa Investment Advisors LLC grew its holdings in shares of Modine Manufacturing by 6.5% during the 4th 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 during the last quarter. Arizona State Retirement System grew its stake in shares of Modine Manufacturing by 0.8% during the fourth quarter. Arizona State Retirement System now owns 14,451 shares of the auto parts company’s stock worth $1,675,000 after buying an additional 118 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Modine Manufacturing by 8.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company’s stock worth $208,000 after buying an additional 136 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Modine Manufacturing by 6.0% in the 4th quarter. Signaturefd LLC now owns 2,786 shares of the auto parts company’s stock valued at $323,000 after acquiring an additional 157 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in shares of Modine Manufacturing by 0.5% during the 4th quarter. Truist Financial Corp now owns 34,267 shares of the auto parts company’s stock valued at $3,973,000 after acquiring an additional 159 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Insider Buying and Selling

In other news, Director William A. Wulfsohn bought 2,530 shares of the company’s 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 completion of the acquisition, the director now directly owns 7,277 shares in the company, valued at approximately $578,012.11. This represents a 53.30 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.40% of the stock is owned by insiders.

Modine Manufacturing Trading Down 3.2 %

Shares of NYSE MOD opened at $70.29 on Monday. The stock has a market cap of $3.70 billion, a P/E ratio of 23.59, a price-to-earnings-growth ratio of 0.71 and a beta of 2.19. The firm has a 50 day moving average price of $87.93 and a two-hundred day moving average price of $114.20. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.87. Modine Manufacturing has a 52-week low of $64.79 and a 52-week high of $146.84.

Modine Manufacturing (NYSE:MOD) last announced its 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 return on equity of 24.25% and a net margin of 6.31%. As a group, equities analysts forecast that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing announced that its Board of Directors has authorized a share buyback program on Friday, March 7th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the auto parts company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Separately, DA Davidson reaffirmed a “buy” rating and issued a $155.00 target price 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.