Segall Bryant & Hamill LLC Sells 17,436 Shares of Modine Manufacturing (NYSE:MOD)

Segall Bryant & Hamill LLC trimmed its position in shares of Modine Manufacturing (NYSE:MOD) by 8.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 187,076 shares of the auto parts company’s stock after selling 17,436 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.36% of Modine Manufacturing worth $21,688,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in 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 valued at $586,486,000 after purchasing an additional 70,581 shares during the period. FMR LLC boosted its position in shares of Modine Manufacturing by 14.0% in the third quarter. FMR LLC now owns 4,417,927 shares of the auto parts company’s stock valued at $586,657,000 after acquiring an additional 543,419 shares during the period. State Street Corp grew its stake in shares of Modine Manufacturing by 1.5% in the third quarter. State Street Corp now owns 1,219,916 shares of the auto parts company’s stock worth $161,993,000 after acquiring an additional 18,108 shares during the last quarter. Geode Capital Management LLC increased its position in Modine Manufacturing by 0.8% during the third quarter. Geode Capital Management LLC now owns 1,170,958 shares of the auto parts company’s stock worth $155,522,000 after acquiring an additional 9,648 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Modine Manufacturing by 2.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company’s stock valued at $153,072,000 after purchasing an additional 26,527 shares during the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, DA Davidson restated a “buy” rating and set a $155.00 price objective on shares of Modine Manufacturing in a 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 shares were acquired at an average cost of $79.43 per share, with a total value of $200,957.90. Following the completion of the purchase, the director now directly 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Modine Manufacturing Stock Performance

NYSE:MOD opened at $92.76 on Tuesday. The stock has a market capitalization of $4.88 billion, a P/E ratio of 31.13, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48. The company has a current ratio of 1.87, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. Modine Manufacturing has a 1 year low of $72.49 and a 1 year high of $146.84. The firm has a 50 day moving average of $97.61 and a 200-day moving average of $115.90.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 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%. As a group, sell-side analysts anticipate that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

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

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.