Modine Manufacturing (NYSE:MOD) Stock Holdings Boosted by Swiss National Bank

Swiss National Bank lifted its position in shares of Modine Manufacturing (NYSE:MOD) by 0.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 98,000 shares of the auto parts company’s stock after acquiring an additional 800 shares during the period. Swiss National Bank owned 0.19% of Modine Manufacturing worth $11,361,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MOD. FMR LLC grew its position in Modine Manufacturing by 14.0% in the 3rd quarter. FMR LLC now owns 4,417,927 shares of the auto parts company’s stock valued at $586,657,000 after buying an additional 543,419 shares in the last quarter. State Street Corp grew its position in Modine Manufacturing by 1.5% in the 3rd quarter. State Street Corp now owns 1,219,916 shares of the auto parts company’s stock valued at $161,993,000 after buying an additional 18,108 shares in the last quarter. Geode Capital Management LLC grew its position in Modine Manufacturing by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,170,958 shares of the auto parts company’s stock valued at $155,522,000 after buying an additional 9,648 shares in the last quarter. Principal Financial Group Inc. grew its position in Modine Manufacturing by 2.4% in 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 buying an additional 26,527 shares in the last quarter. Finally, Wasatch Advisors LP bought a new position in Modine Manufacturing in the 3rd quarter valued at about $91,193,000. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Performance

NYSE:MOD opened at $87.83 on Friday. Modine Manufacturing has a twelve month low of $72.49 and a twelve month high of $146.84. The company has a current ratio of 1.87, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average of $98.73 and a 200-day moving average of $116.09. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 29.47, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share 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%. Analysts forecast that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

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

Insider Activity

In other news, Director William A. Wulfsohn acquired 2,530 shares of Modine Manufacturing stock in a transaction on Monday, March 3rd. The stock was bought 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 owns 7,277 shares of the company’s stock, valued at $578,012.11. This represents a 53.30 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reiterated a “buy” rating and issued a $155.00 target price on shares of Modine Manufacturing in a research report on Monday.

Modine Manufacturing 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.