Modine Manufacturing (NYSE:MOD) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its stake in Modine Manufacturing (NYSE:MOD) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 960,731 shares of the auto parts company’s stock after selling 14,448 shares during the period. Alliancebernstein L.P. owned approximately 1.83% of Modine Manufacturing worth $111,378,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Modine Manufacturing by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 5,058,967 shares of the auto parts company’s stock valued at $586,486,000 after buying an additional 70,581 shares in the last quarter. State Street Corp increased its stake in shares of 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 purchasing an additional 18,108 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Modine Manufacturing by 0.8% in 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 last quarter. Principal Financial Group Inc. raised its stake 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 purchasing an additional 26,527 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in shares of Modine Manufacturing by 22.6% during 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 buying an additional 106,033 shares during the period. 95.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Modine Manufacturing

In other news, Director William A. Wulfsohn acquired 2,530 shares of the stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $79.43 per share, with a total value of $200,957.90. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Modine Manufacturing Stock Up 6.4 %

Shares of NYSE:MOD opened at $85.37 on Thursday. Modine Manufacturing has a 1 year low of $72.49 and a 1 year high of $146.84. The stock has a 50-day simple moving average of $90.52 and a 200-day simple moving average of $114.82. 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 stock has a market capitalization of $4.49 billion, a P/E ratio of 28.65, a PEG ratio of 0.71 and a beta of 2.48.

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

Modine Manufacturing announced that its board has authorized a share buyback 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 repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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.