Modine Manufacturing (NYSE:MOD) Shares Up 5.1%

Shares of Modine Manufacturing (NYSE:MOD) shot up 5.1% on Wednesday . The stock traded as high as $95.00 and last traded at $93.59. 227,024 shares changed hands during trading, a decline of 77% from the average session volume of 974,547 shares. The stock had previously closed at $89.05.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MOD shares. StockNews.com cut Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. B. Riley reaffirmed a “buy” rating and issued a $98.00 price target (up previously from $88.00) on shares of Modine Manufacturing in a report on Tuesday, February 27th. DA Davidson reissued a “buy” rating and set a $90.00 target price on shares of Modine Manufacturing in a research note on Tuesday, February 27th. Finally, Oppenheimer initiated coverage on Modine Manufacturing in a research note on Tuesday, March 19th. They set an “outperform” rating and a $105.00 target price for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.67.

Modine Manufacturing Trading Up 1.2 %

The business has a 50-day moving average of $89.27 and a 200-day moving average of $67.08. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 0.66 and a beta of 2.29. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.21 and a current ratio of 1.93.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, January 30th. The auto parts company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.17. The business had revenue of $561.40 million during the quarter, compared to the consensus estimate of $594.84 million. Modine Manufacturing had a return on equity of 25.28% and a net margin of 9.31%. The company’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 earnings per share. As a group, research analysts forecast that Modine Manufacturing will post 3.27 EPS for the current year.

Insider Buying and Selling

In related news, VP Brian Jon Agen sold 16,799 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $95.64, for a total transaction of $1,606,656.36. Following the transaction, the vice president now owns 102,409 shares of the company’s stock, valued at $9,794,396.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Modine Manufacturing news, VP Brian Jon Agen sold 16,799 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $95.64, for a total transaction of $1,606,656.36. Following the sale, the vice president now directly owns 102,409 shares in the company, valued at approximately $9,794,396.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher William Patterson sold 14,225 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $90.56, for a total value of $1,288,216.00. Following the completion of the transaction, the director now directly owns 97,517 shares of the company’s stock, valued at $8,831,139.52. The disclosure for this sale can be found here. Insiders sold a total of 113,336 shares of company stock worth $10,330,115 in the last 90 days. Company insiders own 2.86% of the company’s stock.

Hedge Funds Weigh In On Modine Manufacturing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legato Capital Management LLC increased its position in Modine Manufacturing by 193.7% during the 4th quarter. Legato Capital Management LLC now owns 24,317 shares of the auto parts company’s stock worth $1,452,000 after purchasing an additional 16,037 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Modine Manufacturing by 3.2% during the third quarter. Vanguard Group Inc. now owns 3,056,893 shares of the auto parts company’s stock valued at $139,853,000 after buying an additional 95,255 shares during the period. SG Capital Management LLC boosted its position in Modine Manufacturing by 1,457.9% during the third quarter. SG Capital Management LLC now owns 208,659 shares of the auto parts company’s stock worth $9,546,000 after acquiring an additional 195,265 shares during the last quarter. Reinhart Partners LLC. purchased a new stake in Modine Manufacturing in the 4th quarter worth approximately $41,129,000. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Modine Manufacturing by 107.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 11,732 shares of the auto parts company’s stock valued at $700,000 after acquiring an additional 6,075 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

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.