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Modine Manufacturing (NYSE:MOD) Hits New 12-Month High at $16.78

Financial News Live · Aug 15, 2022 16:51

Modine Manufacturing (NYSE:MOD – Get Rating)'s stock price reached a new 52-week high during trading on Monday . The company traded as high as $16.78 and last traded at $16.73, with a volume of 8523 shares trading hands. The stock had previously closed at $16.68.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. StockNews.com upgraded Modine Manufacturing from a "buy" rating to a "strong-buy" rating in a research report on Friday, August 5th. DA Davidson lifted their target price on Modine Manufacturing to $20.00 in a research report on Tuesday, August 9th.

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Modine Manufacturing Price Performance

The stock has a market capitalization of $891.86 million, a price-to-earnings ratio of 9.02, a PEG ratio of 0.39 and a beta of 2.34. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.95 and a current ratio of 1.57. The company has a 50 day moving average of $12.06 and a 200 day moving average of $10.22.

Modine Manufacturing (NYSE:MOD – Get Rating) last released its earnings results on Wednesday, May 25th. The auto parts company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.49 by $0.08. Modine Manufacturing had a return on equity of 16.65% and a net margin of 4.64%. The firm had revenue of $574.40 million during the quarter. During the same period in the previous year, the firm earned $0.51 earnings per share. As a group, equities research analysts anticipate that Modine Manufacturing will post 1.7 EPS for the current year.

Insider Transactions at Modine Manufacturing

In other news, CFO Michael B. Lucareli sold 3,783 shares of the company's stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $11.94, for a total transaction of $45,169.02. Following the completion of the transaction, the chief financial officer now directly owns 274,572 shares of the company's stock, valued at approximately $3,278,389.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.06% of the company's stock.

Institutional Trading of Modine Manufacturing

A number of large investors have recently made changes to their positions in MOD. Segall Bryant & Hamill LLC acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at about $18,664,000. Paradigm Capital Management Inc. NY boosted its position in shares of Modine Manufacturing by 87.6% in the 4th quarter. Paradigm Capital Management Inc. NY now owns 1,926,600 shares of the auto parts company's stock valued at $19,439,000 after purchasing an additional 899,400 shares during the period. Principal Financial Group Inc. boosted its position in shares of Modine Manufacturing by 27.1% in the 2nd quarter. Principal Financial Group Inc. now owns 1,642,110 shares of the auto parts company's stock valued at $17,291,000 after purchasing an additional 349,830 shares during the period. Monarch Partners Asset Management LLC raised its stake in Modine Manufacturing by 166.6% during the 2nd quarter. Monarch Partners Asset Management LLC now owns 436,120 shares of the auto parts company's stock valued at $4,592,000 after acquiring an additional 272,505 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in Modine Manufacturing by 5.6% during the 1st quarter. Gamco Investors INC. ET AL now owns 3,250,247 shares of the auto parts company's stock valued at $29,285,000 after acquiring an additional 171,848 shares during the last quarter. 94.42% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Company Profile

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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.