Modine Manufacturing (NYSE:MOD) Reaches New 52-Week High – Should You Buy?

Modine Manufacturing Company (NYSE:MOD)’s share price hit a new 52-week high on Wednesday . The company traded as high as $205.74 and last traded at $198.8950, with a volume of 2593392 shares changing hands. The stock had previously closed at $196.07.

Analyst Ratings Changes

MOD has been the subject of a number of research reports. Oppenheimer boosted their target price on shares of Modine Manufacturing from $185.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday. KeyCorp lifted their price objective on Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. DA Davidson restated a “buy” rating and set a $200.00 price target on shares of Modine Manufacturing in a research note on Thursday, January 29th. Finally, Zacks Research raised shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Modine Manufacturing currently has a consensus rating of “Buy” and a consensus price target of $192.00.

Modine Manufacturing Stock Performance

The business has a 50-day simple moving average of $145.86 and a 200 day simple moving average of $143.14. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 1.16. The firm has a market cap of $10.47 billion, a PE ratio of 57.48, a PEG ratio of 1.24 and a beta of 1.71.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, CEO Neil David Brinker sold 31,871 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total value of $5,117,207.76. Following the completion of the transaction, the chief executive officer directly owned 238,312 shares in the company, valued at $38,263,374.72. This represents a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Suresh V. Garimella sold 1,100 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total transaction of $202,477.00. Following the sale, the director owned 79,856 shares in the company, valued at $14,699,093.92. The trade was a 1.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 34,071 shares of company stock valued at $5,484,685 over the last three months. 2.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Modine Manufacturing

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Modine Manufacturing by 1.9% during the third quarter. Vanguard Group Inc. now owns 5,080,874 shares of the auto parts company’s stock valued at $722,297,000 after acquiring an additional 97,035 shares in the last quarter. Wasatch Advisors LP boosted its holdings in shares of Modine Manufacturing by 1.4% during the 2nd quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock valued at $176,553,000 after purchasing an additional 23,955 shares during the last quarter. State Street Corp boosted its holdings in shares of Modine Manufacturing by 4.2% during the 2nd quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock valued at $128,985,000 after purchasing an additional 53,351 shares during the last quarter. Capital Research Global Investors purchased a new position in shares of Modine Manufacturing during the third quarter valued at about $184,610,000. Finally, Geode Capital Management LLC increased its holdings in shares of Modine Manufacturing by 1.2% in the second quarter. Geode Capital Management LLC now owns 1,214,976 shares of the auto parts company’s stock worth $119,690,000 after purchasing an additional 14,096 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

About Modine Manufacturing

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.