Royce & Associates LP Sells 32,395 Shares of Modine Manufacturing (NYSE:MOD)

Royce & Associates LP decreased its stake in shares of Modine Manufacturing (NYSE:MOD) by 15.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 177,852 shares of the auto parts company’s stock after selling 32,395 shares during the quarter. Royce & Associates LP owned about 0.34% of Modine Manufacturing worth $20,618,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its position 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 valued at $157,000 after purchasing an additional 82 shares during the last quarter. Arizona State Retirement System lifted its position in Modine Manufacturing by 0.8% during the fourth quarter. Arizona State Retirement System now owns 14,451 shares of the auto parts company’s stock valued at $1,675,000 after purchasing an additional 118 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Modine Manufacturing by 8.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company’s stock valued at $208,000 after purchasing an additional 136 shares during the last quarter. Truist Financial Corp lifted its position in Modine Manufacturing by 0.5% during the fourth quarter. Truist Financial Corp now owns 34,267 shares of the auto parts company’s stock valued at $3,973,000 after purchasing an additional 159 shares during the last quarter. Finally, Lisanti Capital Growth LLC lifted its position in Modine Manufacturing by 0.4% during the fourth quarter. Lisanti Capital Growth LLC now owns 50,825 shares of the auto parts company’s stock valued at $5,892,000 after purchasing an additional 185 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

MOD stock opened at $85.36 on Monday. Modine Manufacturing has a 52 week low of $72.49 and a 52 week high of $146.84. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $101.55 and a two-hundred day simple moving average of $116.96. The firm has a market capitalization of $4.49 billion, a P/E ratio of 28.65, a price-to-earnings-growth 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 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 anticipate that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing announced that its board has initiated a stock buyback program on Friday, March 7th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the auto parts company to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Modine Manufacturing

In other news, Director William A. Wulfsohn bought 2,530 shares of the stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $79.43 per share, for a total transaction of $200,957.90. Following the acquisition, the director now 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 document filed with the SEC, which is available at this hyperlink. Company insiders own 2.40% of the company’s stock.

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.