Modine Manufacturing (NYSE:MOD) Shares Sold by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC trimmed its holdings in shares of Modine Manufacturing (NYSE:MOD) by 25.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,340 shares of the auto parts company’s stock after selling 15,623 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in Modine Manufacturing were worth $5,256,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MOD. William Blair Investment Management LLC boosted its holdings in shares of Modine Manufacturing by 7.7% during the fourth quarter. William Blair Investment Management LLC now owns 247,400 shares of the auto parts company’s stock valued at $28,681,000 after acquiring an additional 17,599 shares during the period. Entropy Technologies LP bought a new position in shares of Modine Manufacturing in the fourth quarter worth $452,000. New York State Common Retirement Fund increased its holdings in shares of Modine Manufacturing by 9.9% during the fourth quarter. New York State Common Retirement Fund now owns 247,975 shares of the auto parts company’s stock valued at $28,748,000 after purchasing an additional 22,259 shares during the period. Legend Financial Advisors Inc. raised its stake in shares of Modine Manufacturing by 2.9% during the fourth quarter. Legend Financial Advisors Inc. now owns 9,929 shares of the auto parts company’s stock valued at $1,151,000 after purchasing an additional 279 shares in the last quarter. Finally, Peregrine Capital Management LLC grew its position in Modine Manufacturing by 10.9% in the 4th quarter. Peregrine Capital Management LLC now owns 100,949 shares of the auto parts company’s stock valued at $11,703,000 after buying an additional 9,920 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Modine Manufacturing Price Performance

MOD opened at $90.18 on Friday. 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 fifty day moving average price of $80.44 and a 200 day moving average price of $106.47. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 0.71 and a beta of 2.19.

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, 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 declared that its board has approved a share repurchase program on Friday, March 7th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the auto parts company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Modine Manufacturing

In related news, Director William A. Wulfsohn purchased 2,530 shares of Modine Manufacturing stock in a transaction on Monday, March 3rd. The stock was purchased at an average cost of $79.43 per share, with a total value of $200,957.90. Following the acquisition, the director now directly owns 7,277 shares in the company, valued at approximately $578,012.11. This trade represents a 53.30 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.40% of the company’s stock.

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.