Modine Manufacturing (NYSE:MOD) Upgraded to “Strong-Buy” by StockNews.com

StockNews.com upgraded shares of Modine Manufacturing (NYSE:MODGet Rating) from a buy rating to a strong-buy rating in a report issued on Friday.

Modine Manufacturing Stock Performance

Shares of MOD stock opened at $14.82 on Friday. The company has a market capitalization of $770.20 million, a P/E ratio of 8.01, a P/E/G ratio of 0.36 and a beta of 2.34. The business’s 50 day moving average is $11.64 and its two-hundred day moving average is $9.99. The company has a current ratio of 1.53, a quick ratio of 0.96 and a debt-to-equity ratio of 0.76. Modine Manufacturing has a 12-month low of $7.67 and a 12-month high of $14.94.

Modine Manufacturing (NYSE:MODGet Rating) last released its earnings results on Wednesday, May 25th. The auto parts company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.08. The business had revenue of $574.40 million for the quarter. Modine Manufacturing had a return on equity of 16.92% and a net margin of 4.64%. During the same quarter last year, the business earned $0.51 EPS. Analysts expect that Modine Manufacturing will post 1.62 EPS for the current fiscal year.

Insider Activity

In other news, CFO Michael B. Lucareli sold 3,783 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $11.94, for a total value of $45,169.02. Following the transaction, the chief financial officer now owns 274,572 shares in the company, valued at $3,278,389.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.06% of the company’s stock.

Hedge Funds Weigh In On Modine Manufacturing

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP increased its holdings in shares of Modine Manufacturing by 123.5% in the first quarter. Quantbot Technologies LP now owns 3,800 shares of the auto parts company’s stock valued at $34,000 after purchasing an additional 2,100 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Modine Manufacturing by 132.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,394 shares of the auto parts company’s stock valued at $40,000 after purchasing an additional 2,500 shares during the last quarter. US Bancorp DE increased its holdings in shares of Modine Manufacturing by 171.4% in the second quarter. US Bancorp DE now owns 4,921 shares of the auto parts company’s stock valued at $52,000 after purchasing an additional 3,108 shares during the last quarter. Amalgamated Bank acquired a new stake in shares of Modine Manufacturing in the first quarter valued at approximately $57,000. Finally, Gladius Capital Management LP acquired a new stake in shares of Modine Manufacturing in the first quarter valued at approximately $82,000. Hedge funds and other institutional investors own 94.42% of the company’s stock.

About Modine Manufacturing

(Get Rating)

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.

Further Reading

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