Modine Manufacturing Company (NYSE:MOD) VP Scott D. Wollenberg sold 6,414 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $23.55, for a total value of $151,049.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Modine Manufacturing Company (MOD) traded down $0.35 during midday trading on Monday, hitting $23.15. The company had a trading volume of 215,338 shares, compared to its average volume of 337,577. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.87 and a current ratio of 1.25. Modine Manufacturing Company has a 52-week low of $9.25 and a 52-week high of $23.60. The stock has a market capitalization of $1,183.04, a price-to-earnings ratio of 17.94 and a beta of 1.20.
Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, October 31st. The auto parts company reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.14. Modine Manufacturing had a return on equity of 14.94% and a net margin of 2.29%. The firm had revenue of $508.30 million for the quarter, compared to analyst estimates of $466.33 million. During the same quarter last year, the company posted ($0.01) earnings per share. The business’s revenue was up 60.0% on a year-over-year basis. equities analysts forecast that Modine Manufacturing Company will post 1.43 EPS for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd purchased a new position in shares of Modine Manufacturing during the second quarter worth about $518,000. Comerica Bank purchased a new position in shares of Modine Manufacturing during the second quarter worth about $1,619,000. Schwab Charles Investment Management Inc. boosted its holdings in Modine Manufacturing by 15.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 254,612 shares of the auto parts company’s stock valued at $4,214,000 after purchasing an additional 33,237 shares in the last quarter. Swiss National Bank boosted its holdings in Modine Manufacturing by 6.9% in the 2nd quarter. Swiss National Bank now owns 84,000 shares of the auto parts company’s stock valued at $1,390,000 after purchasing an additional 5,400 shares in the last quarter. Finally, American International Group Inc. boosted its holdings in Modine Manufacturing by 7.0% in the 1st quarter. American International Group Inc. now owns 28,990 shares of the auto parts company’s stock valued at $354,000 after purchasing an additional 1,907 shares in the last quarter. 80.99% of the stock is currently owned by hedge funds and other institutional investors.
MOD has been the topic of several research reports. BidaskClub lowered Modine Manufacturing from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Zacks Investment Research raised Modine Manufacturing from a “hold” rating to a “strong-buy” rating and set a $24.00 price target on the stock in a report on Wednesday, October 11th. TheStreet raised Modine Manufacturing from a “c” rating to a “b-” rating in a report on Tuesday, August 1st. Finally, ValuEngine raised Modine Manufacturing from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Modine Manufacturing presently has a consensus rating of “Buy” and an average price target of $24.00.
About Modine Manufacturing
Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on-highway and off-highway original equipment manufacturer (OEM) vehicular applications, and for sale into an array of building, industrial and refrigeration markets. The Company’s products include radiators and radiator cores, exhaust gas recirculation coolers, building heating, ventilating and air conditioning (HVAC) equipment, and coils.
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