Charles Schwab Investment Management Inc. Has $67.72 Million Stock Position in Modine Manufacturing (NYSE:MOD)

Charles Schwab Investment Management Inc. decreased its position in Modine Manufacturing (NYSE:MOD) by 3.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 584,165 shares of the auto parts company’s stock after selling 20,106 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.11% of Modine Manufacturing worth $67,722,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its stake in shares of Modine Manufacturing by 362.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,310 shares of the auto parts company’s stock worth $268,000 after buying an additional 1,810 shares during the last quarter. Versor Investments LP acquired a new position in shares of Modine Manufacturing during the 4th quarter worth about $601,000. Proficio Capital Partners LLC acquired a new position in shares of Modine Manufacturing during the 4th quarter worth about $1,962,000. Oppenheimer & Co. Inc. boosted its stake in shares of Modine Manufacturing by 21.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 49,892 shares of the auto parts company’s stock worth $5,784,000 after buying an additional 8,823 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Modine Manufacturing by 65.8% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 22,530 shares of the auto parts company’s stock worth $2,612,000 after buying an additional 8,945 shares during the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Trading Up 3.8 %

Modine Manufacturing stock opened at $80.23 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18. The firm has a 50-day moving average of $103.61 and a 200-day moving average of $117.63. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 0.71 and a beta of 2.48. Modine Manufacturing has a one year low of $72.49 and a one year high of $146.84.

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%. On average, equities analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

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

Insider Activity

In related news, Director William A. Wulfsohn purchased 2,530 shares of the stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $79.43 per share, with a total value of $200,957.90. Following the acquisition, the director now directly owns 7,277 shares in the company, valued at $578,012.11. The trade was a 53.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 2.40% of the stock is owned by insiders.

Modine Manufacturing Company 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.