Modine Manufacturing (NYSE:MOD) Trading Down 3.8% – Time to Sell?

Modine Manufacturing (NYSE:MOD) shares traded down 3.8% on Friday . The company traded as low as $135.52 and last traded at $134.62. 225,739 shares were traded during mid-day trading, a decline of 69% from the average session volume of 730,980 shares. The stock had previously closed at $140.00.

Wall Street Analyst Weigh In

Separately, Oppenheimer upped their price objective on Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $146.67.

Modine Manufacturing Stock Performance

The company has a market cap of $6.96 billion, a PE ratio of 43.27, a PEG ratio of 1.10 and a beta of 2.34. The stock has a 50 day simple moving average of $128.58 and a two-hundred day simple moving average of $120.94. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.77 and a quick ratio of 1.09.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The firm had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $646.86 million. During the same quarter in the prior year, the business earned $0.89 EPS. Modine Manufacturing’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities analysts predict that Modine Manufacturing will post 3.83 EPS for the current year.

Hedge Funds Weigh In On Modine Manufacturing

Large investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC boosted its position in shares of Modine Manufacturing by 7.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,132 shares of the auto parts company’s stock worth $314,000 after buying an additional 212 shares in the last quarter. Sei Investments Co. lifted its holdings in Modine Manufacturing by 14.9% in the 2nd quarter. Sei Investments Co. now owns 91,405 shares of the auto parts company’s stock worth $9,157,000 after buying an additional 11,832 shares in the last quarter. Ensign Peak Advisors Inc lifted its holdings in Modine Manufacturing by 40.4% during the 2nd quarter. Ensign Peak Advisors Inc now owns 16,309 shares of the auto parts company’s stock worth $1,634,000 after buying an additional 4,695 shares during the last quarter. Xponance Inc. lifted its holdings in shares of Modine Manufacturing by 4.9% in the 2nd quarter. Xponance Inc. now owns 3,270 shares of the auto parts company’s stock worth $328,000 after purchasing an additional 153 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Modine Manufacturing in the 2nd quarter valued at about $411,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

About Modine Manufacturing

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.