American Century Companies Inc. Grows Position in Modine Manufacturing (NYSE:MOD)

American Century Companies Inc. grew its stake in shares of Modine Manufacturing (NYSE:MOD) by 20.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 289,734 shares of the auto parts company’s stock after purchasing an additional 48,278 shares during the period. American Century Companies Inc. owned approximately 0.55% of Modine Manufacturing worth $33,589,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ boosted its holdings 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 worth $27,000 after buying an additional 193 shares in the last quarter. Principal Securities Inc. lifted its position in shares of Modine Manufacturing by 97.8% during 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 period. Private Trust Co. NA boosted its stake 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 worth $103,000 after acquiring an additional 670 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Modine Manufacturing by 6.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock worth $157,000 after acquiring an additional 82 shares during the period. Finally, Atom Investors LP purchased a new position in Modine Manufacturing in the 3rd quarter valued at approximately $210,000. 95.23% of the stock is owned by institutional investors and hedge funds.

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 on Monday, March 3rd. The stock was bought at an average price of $79.43 per share, for a total transaction of $200,957.90. Following the acquisition, the director now directly owns 7,277 shares of the company’s stock, valued at $578,012.11. This represents a 53.30 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 2.40% of the stock is currently owned by 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 Price Performance

Shares of NYSE:MOD opened at $79.12 on Friday. Modine Manufacturing has a one year low of $72.49 and a one year high of $146.84. The stock has a market cap of $4.16 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48. The business’s fifty day moving average price is $93.98 and its two-hundred day moving average price is $115.29. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.87.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. On average, analysts forecast that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing declared that its Board of Directors has authorized a share buyback plan on Friday, March 7th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership 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.