Modine Manufacturing (NYSE:MOD) Stock Position Lifted by Bridge City Capital LLC

Bridge City Capital LLC lifted its stake in shares of Modine Manufacturing (NYSE:MOD) by 56.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 46,161 shares of the auto parts company’s stock after acquiring an additional 16,603 shares during the period. Modine Manufacturing accounts for about 1.4% of Bridge City Capital LLC’s portfolio, making the stock its 20th biggest position. Bridge City Capital LLC’s holdings in Modine Manufacturing were worth $5,351,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. William Blair Investment Management LLC raised its position in shares of Modine Manufacturing by 7.7% during the 4th quarter. William Blair Investment Management LLC now owns 247,400 shares of the auto parts company’s stock worth $28,681,000 after buying an additional 17,599 shares in the last quarter. Entropy Technologies LP bought a new stake in Modine Manufacturing during the fourth quarter worth approximately $452,000. New York State Common Retirement Fund boosted its stake in 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 purchasing an additional 22,259 shares in the last quarter. Legend Financial Advisors Inc. increased its position 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 valued at $1,151,000 after purchasing an additional 279 shares during the period. Finally, Peregrine Capital Management LLC raised its stake in shares of Modine Manufacturing by 10.9% in the 4th quarter. Peregrine Capital Management LLC now owns 100,949 shares of the auto parts company’s stock worth $11,703,000 after buying an additional 9,920 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Modine Manufacturing

In other news, Director William A. Wulfsohn purchased 2,530 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $578,012.11. The trade was a 53.30 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.40% of the company’s stock.

Modine Manufacturing Price Performance

NYSE MOD opened at $88.68 on Friday. Modine Manufacturing has a 1 year low of $72.49 and a 1 year high of $146.84. The business’s fifty day moving average is $98.13 and its two-hundred day moving average is $115.91. The stock has a market capitalization of $4.66 billion, a P/E ratio of 29.76, a P/E/G ratio of 0.71 and a beta of 2.48. 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 (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 analysts’ consensus estimates of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. On average, research analysts forecast that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing announced that its Board of Directors has initiated a stock repurchase plan 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 repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are 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.