Modine Manufacturing (NYSE:MOD) Position Increased by Voya Investment Management LLC

Voya Investment Management LLC lifted its position in Modine Manufacturing (NYSE:MOD) by 3.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 295,113 shares of the auto parts company’s stock after buying an additional 9,885 shares during the quarter. Voya Investment Management LLC’s holdings in Modine Manufacturing were worth $34,212,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MOD. Barclays PLC grew its position in Modine Manufacturing by 272.4% during the 3rd quarter. Barclays PLC now owns 92,235 shares of the auto parts company’s stock worth $12,247,000 after purchasing an additional 67,465 shares in the last quarter. Invst LLC raised its position in Modine Manufacturing by 16.1% during the third quarter. Invst LLC now owns 8,245 shares of the auto parts company’s stock valued at $1,095,000 after buying an additional 1,144 shares during the period. Virtu Financial LLC purchased a new stake in Modine Manufacturing in the 3rd quarter worth about $396,000. Franklin Resources Inc. boosted its position in Modine Manufacturing by 33.2% during the 3rd quarter. Franklin Resources Inc. now owns 266,731 shares of the auto parts company’s stock worth $35,550,000 after acquiring an additional 66,484 shares during the period. Finally, American Trust purchased a new position in Modine Manufacturing during the 3rd quarter valued at about $268,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Analyst Ratings Changes

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.

Insider Activity at Modine Manufacturing

In related news, Director William A. Wulfsohn bought 2,530 shares of Modine Manufacturing stock in a transaction that occurred 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 $578,012.11. This trade represents a 53.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.40% of the stock is owned by company insiders.

Modine Manufacturing Price Performance

MOD opened at $81.24 on Friday. The stock has a fifty day moving average price of $80.78 and a 200 day moving average price of $108.13. 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 1 year low of $64.79 and a 1 year high of $146.84. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 0.71 and a beta of 2.19.

Modine Manufacturing (NYSE:MOD) last issued 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 EPS for the current fiscal year.

Modine Manufacturing announced that its board has initiated 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 purchase up to 2.4% of its stock through open market purchases. Stock buyback plans are usually a sign 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.