Modine Manufacturing (NYSE:MOD) Posts Earnings Results, Beats Expectations By $0.19 EPS

Modine Manufacturing (NYSE:MOD) released its quarterly earnings data on Wednesday. The auto parts company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.19, Zacks reports. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The firm had revenue of $874.10 million during the quarter, compared to analyst estimates of $878.69 million.

Modine Manufacturing Trading Down 14.5%

NYSE MOD traded down $30.21 during trading on Wednesday, hitting $177.85. The company had a trading volume of 4,740,422 shares, compared to its average volume of 1,378,167. The company’s fifty day moving average is $261.03 and its 200-day moving average is $229.56. Modine Manufacturing has a one year low of $108.32 and a one year high of $323.25. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. The company has a market cap of $9.45 billion, a price-to-earnings ratio of 79.40, a price-to-earnings-growth ratio of 0.75 and a beta of 1.67.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MOD shares. DA Davidson reiterated a “buy” rating and set a $330.00 price target on shares of Modine Manufacturing in a report on Monday, June 22nd. KeyCorp upped their price objective on shares of Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. UBS Group increased their target price on shares of Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, B. Riley Financial increased their price objective on Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Modine Manufacturing currently has an average rating of “Moderate Buy” and a consensus target price of $327.14.

Insider Activity

In related news, Director Eric D. Ashleman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the transaction, the director owned 42,350 shares in the company, valued at $12,219,669. The trade was a 26.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric S. Mcginnis sold 1,020 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the transaction, the insider directly owned 28,364 shares of the company’s stock, valued at approximately $8,369,081.84. The trade was a 3.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 54,302 shares of company stock valued at $15,928,759. Corporate insiders own 1.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Visionary Wealth Advisors raised its holdings in Modine Manufacturing by 13.4% in the fourth quarter. Visionary Wealth Advisors now owns 1,688 shares of the auto parts company’s stock worth $225,000 after purchasing an additional 200 shares in the last quarter. United Capital Financial Advisors LLC bought a new stake in shares of Modine Manufacturing during the 3rd quarter valued at $223,000. Williams Jones Wealth Management LLC. bought a new stake in shares of Modine Manufacturing during the 3rd quarter valued at $213,000. American Trust purchased a new stake in shares of Modine Manufacturing in the 3rd quarter worth about $209,000. Finally, Captrust Financial Advisors purchased a new stake in shares of Modine Manufacturing in the 2nd quarter worth about $206,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

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.