Modine Manufacturing (NYSE:MOD) Sets New 1-Year High at $82.24

Modine Manufacturing (NYSE:MODGet Free Report) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $82.24 and last traded at $82.21, with a volume of 504046 shares changing hands. The stock had previously closed at $77.54.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. B. Riley raised their price target on shares of Modine Manufacturing from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. DA Davidson raised their price target on shares of Modine Manufacturing from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, December 26th. Finally, StockNews.com lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st.

Get Our Latest Stock Report on Modine Manufacturing

Modine Manufacturing Price Performance

The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.21 and a current ratio of 1.93. The stock’s 50 day simple moving average is $66.53 and its two-hundred day simple moving average is $53.48. The firm has a market capitalization of $4.27 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 0.99 and a beta of 2.24.

Modine Manufacturing (NYSE:MODGet Free Report) last released its earnings results on Tuesday, January 30th. The auto parts company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.17. Modine Manufacturing had a net margin of 9.31% and a return on equity of 25.28%. The business had revenue of $561.40 million for the quarter, compared to analyst estimates of $594.84 million. During the same period last year, the company posted $0.48 EPS. The business’s revenue was up .2% on a year-over-year basis. On average, sell-side analysts forecast that Modine Manufacturing will post 3.26 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Michael B. Lucareli sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $55.00, for a total transaction of $1,100,000.00. Following the completion of the sale, the chief financial officer now owns 194,587 shares in the company, valued at approximately $10,702,285. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Christopher William Patterson sold 6,400 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $53.04, for a total transaction of $339,456.00. Following the completion of the sale, the director now owns 111,742 shares in the company, valued at approximately $5,926,795.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael B. Lucareli sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $55.00, for a total transaction of $1,100,000.00. Following the sale, the chief financial officer now owns 194,587 shares of the company’s stock, valued at approximately $10,702,285. The disclosure for this sale can be found here. Corporate insiders own 2.86% of the company’s stock.

Institutional Trading of Modine Manufacturing

A number of hedge funds and other institutional investors have recently made changes to their positions in MOD. Principal Securities Inc. acquired a new stake in Modine Manufacturing in the 4th quarter valued at approximately $29,000. FNY Investment Advisers LLC acquired a new stake in Modine Manufacturing in the 3rd quarter valued at approximately $25,000. KBC Group NV acquired a new stake in Modine Manufacturing in the 4th quarter valued at approximately $57,000. Nisa Investment Advisors LLC increased its holdings in Modine Manufacturing by 51.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,172 shares of the auto parts company’s stock valued at $70,000 after purchasing an additional 400 shares during the last quarter. Finally, Harbour Investments Inc. increased its holdings in Modine Manufacturing by 154.1% in the 2nd quarter. Harbour Investments Inc. now owns 1,245 shares of the auto parts company’s stock valued at $41,000 after purchasing an additional 755 shares during the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.

Modine Manufacturing Company Profile

(Get Free Report)

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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