Natixis Advisors LLC Increases Stock Holdings in Modine Manufacturing (NYSE:MOD)

Natixis Advisors LLC lifted its stake in shares of Modine Manufacturing (NYSE:MOD) by 16.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,204 shares of the auto parts company’s stock after purchasing an additional 2,234 shares during the quarter. Natixis Advisors LLC’s holdings in Modine Manufacturing were worth $1,879,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MOD. Skandinaviska Enskilda Banken AB publ raised its position in Modine Manufacturing by 567.6% during the 4th 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 last quarter. Principal Securities Inc. increased its stake in shares of Modine Manufacturing by 97.8% during the fourth quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock worth $63,000 after acquiring an additional 269 shares during the period. Private Trust Co. NA raised its holdings in Modine Manufacturing by 650.5% during the third quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock worth $103,000 after purchasing an additional 670 shares in the last quarter. Nisa Investment Advisors LLC lifted its position 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 during the period. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Modine Manufacturing in the 3rd quarter valued at approximately $196,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Insider Activity at Modine Manufacturing

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

Wall Street Analyst Weigh In

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

Modine Manufacturing Stock Performance

Shares of MOD opened at $92.76 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. Modine Manufacturing has a 52-week low of $72.49 and a 52-week high of $146.84. The company has a 50-day simple moving average of $97.61 and a 200-day simple moving average of $115.90. The company has a market capitalization of $4.88 billion, a PE ratio of 31.13, a P/E/G ratio of 0.71 and a beta of 2.48.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 predict that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

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

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.