Modine Manufacturing (NYSE:MOD) Stock Holdings Decreased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its stake in Modine Manufacturing (NYSE:MOD) by 14.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 164,198 shares of the auto parts company’s stock after selling 27,116 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Modine Manufacturing were worth $19,036,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ raised its stake in Modine Manufacturing by 567.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company’s stock valued at $27,000 after buying an additional 193 shares in the last quarter. Principal Securities Inc. increased its holdings in shares of Modine Manufacturing by 97.8% in the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock valued at $63,000 after acquiring an additional 269 shares during the last quarter. Private Trust Co. NA raised its position in shares of Modine Manufacturing by 650.5% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock valued at $103,000 after acquiring an additional 670 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake 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 purchasing an additional 82 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in Modine Manufacturing in the third quarter worth $196,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Modine Manufacturing Trading Up 1.0 %

Shares of NYSE MOD opened at $88.68 on Friday. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 29.76, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48. The stock’s 50 day simple moving average is $98.13 and its 200 day simple moving average is $115.86. 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 12-month low of $72.49 and a 12-month high of $146.84.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (EPS) 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%. Equities research analysts expect that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing announced that its Board of Directors has authorized a share repurchase program on Friday, March 7th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the auto parts company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, Director William A. Wulfsohn purchased 2,530 shares of the stock in a transaction dated Monday, March 3rd. The shares were bought at an average cost of $79.43 per share, with a total value of $200,957.90. Following the completion of the acquisition, the director now owns 7,277 shares of the company’s stock, valued at approximately $578,012.11. This trade represents a 53.30 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.40% of the stock is owned by company insiders.

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.