Aristides Capital LLC Sells 3,310 Shares of Modine Manufacturing (NYSE:MOD)

Aristides Capital LLC cut its stake in shares of Modine Manufacturing (NYSE:MOD) by 23.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,690 shares of the auto parts company’s stock after selling 3,310 shares during the quarter. Aristides Capital LLC’s holdings in Modine Manufacturing were worth $1,239,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MOD. Vanguard Group Inc. grew its stake in shares of Modine Manufacturing by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 5,058,967 shares of the auto parts company’s stock worth $586,486,000 after buying an additional 70,581 shares during the last quarter. State Street Corp grew its position in Modine Manufacturing by 1.5% during the 3rd 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 holdings 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 worth $155,522,000 after purchasing an additional 9,648 shares in the last quarter. Principal Financial Group Inc. raised its position in Modine Manufacturing by 2.4% in the third 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. Finally, Artisan Partners Limited Partnership raised its position in Modine Manufacturing by 22.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 575,223 shares of the auto parts company’s stock valued at $66,686,000 after purchasing an additional 106,033 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Modine Manufacturing news, Director William A. Wulfsohn purchased 2,530 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was purchased at an average cost of $79.43 per share, for a total transaction of $200,957.90. Following the acquisition, the director now owns 7,277 shares in the company, valued at approximately $578,012.11. The trade was a 53.30 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

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

Modine Manufacturing Stock Performance

Shares of Modine Manufacturing stock opened at $70.29 on Friday. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 23.59, a P/E/G ratio of 0.71 and a beta of 2.19. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. Modine Manufacturing has a twelve month low of $64.79 and a twelve month high of $146.84. The company’s fifty day moving average is $87.93 and its 200 day moving average is $114.22.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 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%. Sell-side analysts forecast that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing announced that its Board of Directors has approved a stock repurchase plan on Friday, March 7th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the auto parts company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors 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.