Modine Manufacturing (MOD) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Modine Manufacturing (NYSE:MOD) announced its earnings results on Wednesday. The auto parts company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.02, Briefing.com reports. The company had revenue of $556.70 million during the quarter, compared to analyst estimates of $577.30 million. Modine Manufacturing had a net margin of 4.32% and a return on equity of 16.34%. Modine Manufacturing’s revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. Modine Manufacturing updated its FY 2020 guidance to $1.55-1.70 EPS and its FY20 guidance to $1.55-1.70 EPS.

Shares of MOD stock opened at $13.55 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.30 and a debt-to-equity ratio of 0.66. The stock has a market cap of $662.73 million, a price-to-earnings ratio of 8.80 and a beta of 1.97. Modine Manufacturing has a 1-year low of $9.75 and a 1-year high of $20.30.

In related news, VP Dennis P. Appel bought 3,180 shares of the stock in a transaction on Friday, March 22nd. The stock was bought at an average price of $13.99 per share, with a total value of $44,488.20. Following the completion of the purchase, the vice president now directly owns 33,543 shares in the company, valued at approximately $469,266.57. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Matthew J. Mcburney sold 4,988 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $14.74, for a total transaction of $73,523.12. The disclosure for this sale can be found here. Company insiders own 4.48% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Modine Manufacturing by 2.4% in the third quarter. Vanguard Group Inc. now owns 4,328,334 shares of the auto parts company’s stock valued at $64,492,000 after purchasing an additional 103,083 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Modine Manufacturing by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,264,982 shares of the auto parts company’s stock valued at $46,105,000 after purchasing an additional 39,017 shares during the period. LSV Asset Management boosted its stake in shares of Modine Manufacturing by 0.5% in the fourth quarter. LSV Asset Management now owns 1,629,839 shares of the auto parts company’s stock valued at $17,618,000 after purchasing an additional 8,000 shares during the period. Gamco Investors INC. ET AL boosted its stake in shares of Modine Manufacturing by 1.1% in the fourth quarter. Gamco Investors INC. ET AL now owns 1,583,930 shares of the auto parts company’s stock valued at $17,122,000 after purchasing an additional 17,227 shares during the period. Finally, Royce & Associates LP boosted its stake in shares of Modine Manufacturing by 8.7% in the fourth quarter. Royce & Associates LP now owns 1,341,382 shares of the auto parts company’s stock valued at $14,500,000 after purchasing an additional 107,200 shares during the period. 88.47% of the stock is owned by institutional investors and hedge funds.

Several research analysts have weighed in on the stock. ValuEngine lowered shares of Modine Manufacturing from a “sell” rating to a “strong sell” rating in a research note on Friday, May 10th. Zacks Investment Research lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th.

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About Modine Manufacturing

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 primarily in the United States. The company operates through Americas, Europe, Asia, Commercial and Industrial Solutions, and Building HVAC segments.

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Earnings History for Modine Manufacturing (NYSE:MOD)

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