Modine Manufacturing (NYSE:MOD) Shares Sold by US Bancorp DE

US Bancorp DE lessened its holdings in Modine Manufacturing (NYSE:MOD) by 33.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,269 shares of the auto parts company’s stock after selling 1,649 shares during the quarter. US Bancorp DE’s holdings in Modine Manufacturing were worth $379,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its stake 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 buying an additional 82 shares during the last quarter. Truist Financial Corp lifted its stake in Modine Manufacturing by 0.5% in the fourth quarter. Truist Financial Corp now owns 34,267 shares of the auto parts company’s stock valued at $3,973,000 after buying an additional 159 shares during the last quarter. Principal Securities Inc. lifted its stake in Modine Manufacturing by 97.8% in the fourth quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock valued at $63,000 after buying an additional 269 shares during the last quarter. Legend Financial Advisors Inc. lifted its stake in Modine Manufacturing by 2.9% in the fourth quarter. Legend Financial Advisors Inc. now owns 9,929 shares of the auto parts company’s stock valued at $1,151,000 after buying an additional 279 shares during the last quarter. Finally, Inspire Investing LLC lifted its stake in Modine Manufacturing by 10.4% in the fourth quarter. Inspire Investing LLC now owns 3,442 shares of the auto parts company’s stock valued at $399,000 after buying an additional 325 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Insider Activity at Modine Manufacturing

In related news, Director William A. Wulfsohn acquired 2,530 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $79.43 per share, for a total transaction of $200,957.90. Following the completion of the purchase, the director now directly owns 7,277 shares in the company, 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 SEC, which is accessible through the SEC website. Company insiders own 2.40% of the company’s stock.

Modine Manufacturing Stock Performance

MOD stock opened at $81.92 on Friday. 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 stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 27.49, a PEG ratio of 0.71 and a beta of 2.48. Modine Manufacturing has a 1 year low of $72.49 and a 1 year high of $146.84. The stock’s fifty day moving average is $102.29 and its two-hundred day moving average is $117.16.

Modine Manufacturing (NYSE:MOD) last posted 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%. On average, research analysts predict that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing announced that its Board of Directors has authorized a share repurchase plan 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 stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.