Corient Private Wealth LLC Has $615,000 Position in Modine Manufacturing (NYSE:MOD)

Corient Private Wealth LLC cut its stake in Modine Manufacturing (NYSE:MOD) by 39.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,304 shares of the auto parts company’s stock after selling 3,386 shares during the period. Corient Private Wealth LLC’s holdings in Modine Manufacturing were worth $615,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of MOD. Pathstone Holdings LLC boosted its position in shares of Modine Manufacturing by 48.2% during the 3rd quarter. Pathstone Holdings LLC now owns 10,421 shares of the auto parts company’s stock worth $1,384,000 after acquiring an additional 3,391 shares in the last quarter. Citigroup Inc. lifted its stake in Modine Manufacturing by 86.6% during the third quarter. Citigroup Inc. now owns 50,229 shares of the auto parts company’s stock worth $6,670,000 after purchasing an additional 23,314 shares during the last quarter. Algert Global LLC increased its stake in shares of Modine Manufacturing by 122.5% in the 3rd quarter. Algert Global LLC now owns 11,110 shares of the auto parts company’s stock valued at $1,475,000 after purchasing an additional 6,116 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of Modine Manufacturing by 650.5% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock worth $103,000 after buying an additional 670 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Modine Manufacturing by 14.0% during the 3rd quarter. FMR LLC now owns 4,417,927 shares of the auto parts company’s stock worth $586,657,000 after buying an additional 543,419 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Modine Manufacturing

In related news, Director William A. Wulfsohn purchased 2,530 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $79.43 per share, with a total value of $200,957.90. Following the completion of the purchase, 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 acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.40% of the company’s stock.

Modine Manufacturing Stock Down 1.1 %

Shares of NYSE:MOD opened at $79.12 on Friday. Modine Manufacturing has a 52-week low of $72.49 and a 52-week high of $146.84. The company has a market capitalization of $4.16 billion, a PE ratio of 26.55, a price-to-earnings-growth 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. The company has a fifty day moving average of $93.98 and a 200-day moving average of $115.29.

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, 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, equities analysts predict that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing declared that its board has initiated a stock repurchase program on Friday, March 7th that permits the company to buyback $100.00 million in 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 generally an indication that the company’s board 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.