Modine Manufacturing (NYSE:MOD) Shares Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. grew its stake in Modine Manufacturing (NYSE:MOD) by 8.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,791 shares of the auto parts company’s stock after buying an additional 136 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Modine Manufacturing were worth $208,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MOD. Nisa Investment Advisors LLC grew its holdings in shares of Modine Manufacturing by 6.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock worth $157,000 after purchasing an additional 82 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Modine Manufacturing by 0.8% in the 4th quarter. Arizona State Retirement System now owns 14,451 shares of the auto parts company’s stock valued at $1,675,000 after purchasing an additional 118 shares during the period. Truist Financial Corp grew its stake in Modine Manufacturing by 0.5% during the 4th quarter. Truist Financial Corp now owns 34,267 shares of the auto parts company’s stock worth $3,973,000 after buying an additional 159 shares during the last quarter. Lisanti Capital Growth LLC increased its position in Modine Manufacturing by 0.4% during the fourth quarter. Lisanti Capital Growth LLC now owns 50,825 shares of the auto parts company’s stock worth $5,892,000 after buying an additional 185 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in Modine Manufacturing by 567.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company’s stock valued at $27,000 after buying an additional 193 shares during the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Performance

Shares of MOD stock opened at $79.12 on Friday. The stock’s 50-day moving average price is $93.98 and its 200 day moving average price is $115.29. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. The stock 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. Modine Manufacturing has a 52-week low of $72.49 and a 52-week high of $146.84.

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

Modine Manufacturing declared that its board has authorized a share buyback program on Friday, March 7th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Modine Manufacturing news, Director William A. Wulfsohn acquired 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 acquisition, the director now owns 7,277 shares of the company’s stock, valued at $578,012.11. This trade represents a 53.30 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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.