Modine Manufacturing (NYSE:MOD) Stock Price Up 6.8% – Here’s Why

by · The Cerbat Gem

Shares of Modine Manufacturing Company (NYSE:MOD – Get Free Report) traded up 6.8% during mid-day trading on Friday . The company traded as high as $192.54 and last traded at $191.3880. Approximately 258,114 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 1,380,268 shares. The stock had previously closed at $179.26.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. KeyCorp restated an “overweight” rating and issued a $280.00 price objective on shares of Modine Manufacturing in a research note on Wednesday, September 2nd. UBS Group raised their price objective on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. DA Davidson reissued a “buy” rating and set a $330.00 target price on shares of Modine Manufacturing in a report on Monday, June 22nd. Finally, Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Modine Manufacturing has a consensus rating of “Moderate Buy” and a consensus price target of $320.14.

View Our Latest Stock Report on MOD

Modine Manufacturing Trading Up 5.8%

The business has a fifty day moving average price of $207.78 and a 200-day moving average price of $233.45. The company has a quick ratio of 1.22, a current ratio of 2.04 and a debt-to-equity ratio of 0.39. The company has a market cap of $10.07 billion, a P/E ratio of 71.39, a PEG ratio of 0.61 and a beta of 1.74.

Modine Manufacturing (NYSE:MOD – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.26. The business had revenue of $874.10 million during the quarter, compared to analysts’ expectations of $878.69 million. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The firm’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period last year, the firm posted $0.95 EPS. On average, analysts forecast that Modine Manufacturing Company will post 7.65 earnings per share for the current year.

Insider Transactions at Modine Manufacturing

In related news, insider Eric S. Mcginnis sold 1,020 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.06, for a total transaction of $300,961.20. Following the transaction, the insider directly owned 28,364 shares of the company’s stock, valued at approximately $8,369,081.84. This trade represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian Agen sold 38,282 shares of Modine Manufacturing stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the completion of the sale, the vice president owned 66,343 shares of the company’s stock, valued at $19,582,463.31. This trade represents a 36.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 54,302 shares of company stock valued at $15,928,759. 1.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Modine Manufacturing

Institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new stake in shares of Modine Manufacturing in the first quarter valued at approximately $25,000. Rakuten Securities Inc. acquired a new stake in Modine Manufacturing during the second quarter worth approximately $40,000. PenderFund Capital Management Ltd. acquired a new stake in Modine Manufacturing during the second quarter worth approximately $42,000. Kemnay Advisory Services Inc. bought a new position in Modine Manufacturing during the 4th quarter worth $25,000. Finally, Vega Investment Solutions bought a new position in Modine Manufacturing during the 2nd quarter worth $52,000. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

(Get Free Report)

Modine Manufacturing Company (NYSE:MOD) is a diversified thermal-management company that develops and manufactures products and systems for commercial, industrial, transportation, and building applications. Its solutions are designed to transfer and control heat, improve energy efficiency, and support the operation of engines, vehicles, data centers, and other equipment.

The company operates through businesses focused on climate solutions and performance technologies. Its products and services include heat exchangers, cooling modules, radiators, charge-air coolers, heating and air-conditioning systems, refrigeration and data-center cooling equipment, and thermal-management solutions for electric vehicles and other specialized applications.

Founded in 1916, Modine serves customers in markets worldwide through manufacturing, engineering, and sales operations across North America, Europe, and Asia.

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