Modine Manufacturing (NYSE:MOD) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lowered its position in Modine Manufacturing (NYSE:MOD) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 400,062 shares of the auto parts company’s stock after selling 11,690 shares during the period. Loomis Sayles & Co. L P owned about 0.76% of Modine Manufacturing worth $46,379,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its holdings in Modine Manufacturing by 6.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock worth $157,000 after buying an additional 82 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Modine Manufacturing by 0.8% in the 4th quarter. Arizona State Retirement System now owns 14,451 shares of the auto parts company’s stock worth $1,675,000 after acquiring an additional 118 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in Modine Manufacturing by 8.2% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company’s stock valued at $208,000 after purchasing an additional 136 shares in the last quarter. Signaturefd LLC raised its holdings in Modine Manufacturing by 6.0% during the fourth quarter. Signaturefd LLC now owns 2,786 shares of the auto parts company’s stock worth $323,000 after purchasing an additional 157 shares during the last quarter. Finally, Truist Financial Corp increased its position in shares of 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 in the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity 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, for a total transaction of $200,957.90. Following the completion of the acquisition, the director now owns 7,277 shares of the company’s stock, valued at $578,012.11. The trade was a 53.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.40% of the company’s stock.

Modine Manufacturing Stock Down 7.5 %

MOD opened at $80.11 on Friday. The firm has a market cap of $4.21 billion, a P/E ratio of 26.88, a PEG ratio of 0.71 and a beta of 2.48. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. The business’s fifty day simple moving average is $95.07 and its 200 day simple moving average is $115.42. Modine Manufacturing has a 52 week low of $72.49 and a 52 week high of $146.84.

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 analysts’ consensus estimates of $0.79 by $0.13. Modine Manufacturing had a net margin of 6.31% and a return on equity of 24.25%. As a group, 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 initiated a share buyback program on Friday, March 7th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the auto parts company to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are generally 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.