Riverwater Partners LLC Has $1.96 Million Holdings in Modine Manufacturing (NYSE:MOD)

Riverwater Partners LLC cut its position in shares of Modine Manufacturing (NYSE:MOD) by 38.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,903 shares of the auto parts company’s stock after selling 10,755 shares during the period. Modine Manufacturing accounts for 1.0% of Riverwater Partners LLC’s portfolio, making the stock its 25th largest holding. Riverwater Partners LLC’s holdings in Modine Manufacturing were worth $1,960,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of MOD. Skandinaviska Enskilda Banken AB publ increased its position 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 during the last quarter. Principal Securities Inc. raised its stake in 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 period. Nisa Investment Advisors LLC lifted its holdings in Modine Manufacturing by 6.5% during the 4th 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. Quantinno Capital Management LP bought a new position in Modine Manufacturing during the third quarter worth $218,000. Finally, Rothschild Investment LLC boosted its position in Modine Manufacturing by 34.4% during the fourth quarter. Rothschild Investment LLC now owns 1,720 shares of the auto parts company’s stock worth $199,000 after purchasing an additional 440 shares during the period. 95.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Modine Manufacturing Stock Performance

MOD opened at $70.29 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18. The business has a fifty day simple moving average of $87.93 and a 200 day simple moving average of $114.23. Modine Manufacturing has a 1 year low of $64.79 and a 1 year high of $146.84. The company has a market capitalization of $3.70 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results 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%. Research analysts expect that Modine Manufacturing will post 3.88 EPS for the current year.

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

Insider Transactions at Modine Manufacturing

In related news, Director William A. Wulfsohn bought 2,530 shares of Modine Manufacturing 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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.