Modine Manufacturing (NYSE:MOD) Sets New 1-Year High – Here’s What Happened

Modine Manufacturing Company (NYSE:MOD) hit a new 52-week high during trading on Tuesday . The company traded as high as $314.87 and last traded at $314.09, with a volume of 514541 shares changing hands. The stock had previously closed at $260.52.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MOD. Roth Mkm began coverage on Modine Manufacturing in a report on Wednesday, February 18th. They issued a “buy” rating and a $263.00 target price on the stock. DA Davidson reaffirmed a “buy” rating and issued a $265.00 target price on shares of Modine Manufacturing in a report on Tuesday, March 31st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Modine Manufacturing in a report on Wednesday, May 6th. Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Glj Research began coverage on Modine Manufacturing in a report on Monday, March 30th. They issued a “buy” rating and a $290.00 target price on the stock. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Modine Manufacturing presently has a consensus rating of “Moderate Buy” and an average price target of $234.33.

Modine Manufacturing Price Performance

The stock has a 50-day simple moving average of $239.54 and a 200 day simple moving average of $191.78. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19. The company has a market cap of $16.87 billion, a P/E ratio of 177.79, a P/E/G ratio of 1.06 and a beta of 1.66.

Hedge Funds Weigh In On Modine Manufacturing

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Argent Capital Management LLC lifted its position in shares of Modine Manufacturing by 25.4% during the 1st quarter. Argent Capital Management LLC now owns 10,169 shares of the auto parts company’s stock worth $2,204,000 after buying an additional 2,060 shares during the period. E20 Capital Ltd lifted its position in shares of Modine Manufacturing by 212.6% during the 1st quarter. E20 Capital Ltd now owns 115,013 shares of the auto parts company’s stock worth $24,924,000 after buying an additional 78,224 shares during the period. Janus Henderson Group PLC lifted its position in shares of Modine Manufacturing by 2,249.9% during the 1st quarter. Janus Henderson Group PLC now owns 523,507 shares of the auto parts company’s stock worth $113,459,000 after buying an additional 501,229 shares during the period. Centaurus Financial Inc. bought a new position in shares of Modine Manufacturing during the 1st quarter worth approximately $157,000. Finally, Cim LLC bought a new position in shares of Modine Manufacturing during the 1st quarter worth approximately $1,452,000. 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.