Modine Manufacturing (NYSE:MOD) Stock Price Up 7.9%

Modine Manufacturing (NYSE:MODGet Rating)’s share price rose 7.9% during trading on Thursday . The company traded as high as $14.67 and last traded at $14.49. Approximately 5,991 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 231,412 shares. The stock had previously closed at $13.43.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Modine Manufacturing from a “buy” rating to a “strong-buy” rating in a report on Friday.

Modine Manufacturing Trading Up 2.1 %

The company has a quick ratio of 0.96, a current ratio of 1.53 and a debt-to-equity ratio of 0.76. The business has a fifty day simple moving average of $11.64 and a 200 day simple moving average of $9.99. The company has a market cap of $770.20 million, a price-to-earnings ratio of 8.01, a P/E/G ratio of 0.36 and a beta of 2.34.

Modine Manufacturing (NYSE:MODGet Rating) last released its earnings results on Wednesday, May 25th. The auto parts company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. The company had revenue of $574.40 million during the quarter. Modine Manufacturing had a return on equity of 16.92% and a net margin of 4.64%. During the same period last year, the business posted $0.51 EPS. On average, equities analysts anticipate that Modine Manufacturing will post 1.62 EPS for the current fiscal year.

Insider Activity at Modine Manufacturing

In related news, CFO Michael B. Lucareli sold 3,783 shares of the stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $11.94, for a total value of $45,169.02. Following the sale, the chief financial officer now directly owns 274,572 shares of the company’s stock, valued at approximately $3,278,389.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Modine Manufacturing

Large investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP grew its stake in Modine Manufacturing by 123.5% in the 1st quarter. Quantbot Technologies LP now owns 3,800 shares of the auto parts company’s stock valued at $34,000 after acquiring an additional 2,100 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Modine Manufacturing by 132.0% in the 1st 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 in the last quarter. US Bancorp DE lifted its holdings in Modine Manufacturing by 171.4% in the 2nd 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 in the last quarter. Amalgamated Bank purchased a new position in Modine Manufacturing in the 1st quarter valued at about $57,000. Finally, Gladius Capital Management LP purchased a new position in Modine Manufacturing in the 1st quarter valued at about $82,000. 94.42% of the stock is owned by institutional investors and hedge funds.

About Modine Manufacturing

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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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