Axiom Investors LLC DE Boosts Holdings in Modine Manufacturing (NYSE:MOD)

Axiom Investors LLC DE increased its position in shares of Modine Manufacturing (NYSE:MOD) by 6.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 184,630 shares of the auto parts company’s stock after buying an additional 11,899 shares during the quarter. Axiom Investors LLC DE owned about 0.35% of Modine Manufacturing worth $21,404,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MOD. Norges Bank acquired a new stake in shares of Modine Manufacturing during the 4th quarter worth about $31,590,000. Raymond James Financial Inc. acquired a new stake in shares of Modine Manufacturing during the fourth quarter valued at about $19,719,000. Clearbridge Investments LLC purchased a new stake in shares of Modine Manufacturing in the 4th quarter valued at approximately $18,930,000. Artisan Partners Limited Partnership lifted its holdings in shares of Modine Manufacturing by 22.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 575,223 shares of the auto parts company’s stock worth $66,686,000 after acquiring an additional 106,033 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Modine Manufacturing by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 5,058,967 shares of the auto parts company’s stock worth $586,486,000 after purchasing an additional 70,581 shares during the period. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Trading Down 1.1 %

NYSE MOD opened at $79.12 on Monday. 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 firm has a market cap of $4.16 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 0.71 and a beta of 2.48. The firm has a 50 day simple moving average of $93.98 and a 200-day simple moving average of $115.48. 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 quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 EPS for the quarter, beating the consensus estimate 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 anticipate that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing announced that its Board of Directors has authorized a share buyback plan on Friday, March 7th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the auto parts company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

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

Insider Buying and Selling at Modine Manufacturing

In other news, Director William A. Wulfsohn bought 2,530 shares of Modine Manufacturing stock in a transaction that occurred on Monday, March 3rd. The shares were purchased 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is owned by corporate 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.