Modine Manufacturing (NYSE:MOD) Sets New 12-Month High at $64.61

Shares of Modine Manufacturing (NYSE:MODGet Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $64.61 and last traded at $63.93, with a volume of 178235 shares traded. The stock had previously closed at $64.22.

Analyst Upgrades and Downgrades

MOD has been the subject of several recent analyst reports. DA Davidson boosted their target price on Modine Manufacturing from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, December 26th. StockNews.com cut Modine Manufacturing from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 30th.

View Our Latest Report on Modine Manufacturing

Modine Manufacturing Stock Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 1.82 and a quick ratio of 1.17. The stock has a 50 day simple moving average of $55.35 and a two-hundred day simple moving average of $46.96. The company has a market cap of $3.34 billion, a PE ratio of 16.52, a PEG ratio of 0.85 and a beta of 2.30.

Modine Manufacturing (NYSE:MODGet Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The auto parts company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.25. Modine Manufacturing had a return on equity of 25.40% and a net margin of 8.50%. The company had revenue of $620.50 million during the quarter, compared to analysts’ expectations of $616.18 million. During the same quarter in the previous year, the business earned $0.48 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities analysts predict that Modine Manufacturing will post 3.04 EPS for the current year.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, Director Christopher William Patterson sold 6,400 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $53.04, for a total value of $339,456.00. Following the completion of the sale, the director now owns 111,742 shares in the company, valued at $5,926,795.68. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Christopher William Patterson sold 6,400 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was 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 $5,926,795.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael B. Lucareli sold 20,000 shares of the company’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 value 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. Over the last quarter, insiders sold 86,400 shares of company stock worth $4,456,856. 2.86% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MOD. Reinhart Partners LLC. acquired a new position in Modine Manufacturing during the fourth quarter worth $41,129,000. American Century Companies Inc. grew its holdings in Modine Manufacturing by 570.1% during the third quarter. American Century Companies Inc. now owns 700,758 shares of the auto parts company’s stock worth $32,060,000 after acquiring an additional 596,177 shares during the period. Victory Capital Management Inc. grew its holdings in Modine Manufacturing by 117.3% during the second quarter. Victory Capital Management Inc. now owns 1,003,455 shares of the auto parts company’s stock worth $33,134,000 after acquiring an additional 541,728 shares during the period. BlackRock Inc. grew its holdings in Modine Manufacturing by 9.0% during the first quarter. BlackRock Inc. now owns 4,965,774 shares of the auto parts company’s stock worth $114,461,000 after acquiring an additional 410,505 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in Modine Manufacturing by 31,897.3% during the fourth quarter. Wells Fargo & Company MN now owns 366,049 shares of the auto parts company’s stock worth $7,270,000 after acquiring an additional 364,905 shares during the period. 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.

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