Zacks Investment Research Lowers Modine Manufacturing (MOD) to Hold

Zacks Investment Research downgraded shares of Modine Manufacturing (NYSE:MOD) from a strong-buy rating to a hold rating in a research report released on Wednesday morning.

According to Zacks, “Modine operates primarily in a single industry consisting of the manufacture and sale of heat transfer equipment. This includes heat exchangers for cooling all types of engines, transmissions, auxiliary hydraulic equipment, air conditioning components used in cars, trucks, farm and construction machinery and equipment, and heating and cooling equipment for residential and commercial building HVAC (heating, ventilating, air conditioning and refrigeration equipment). “

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Shares of Modine Manufacturing stock opened at $20.85 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.85 and a current ratio of 1.24. The stock has a market cap of $1,069.78, a PE ratio of 26.73 and a beta of 1.33. Modine Manufacturing has a 12 month low of $10.10 and a 12 month high of $25.75.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Tuesday, January 30th. The auto parts company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. The firm had revenue of $512.70 million for the quarter, compared to analyst estimates of $456.30 million. Modine Manufacturing had a return on equity of 16.54% and a net margin of 0.62%. The company’s revenue was up 46.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.21 EPS. research analysts forecast that Modine Manufacturing will post 1.5 EPS for the current year.

In other news, Director Marsha C. Williams sold 15,000 shares of the stock in a transaction dated Wednesday, March 28th. The stock was sold at an average price of $20.91, for a total transaction of $313,650.00. Following the transaction, the director now directly owns 84,541 shares in the company, valued at approximately $1,767,752.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Scott L. Bowser sold 3,500 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $24.36, for a total value of $85,260.00. The disclosure for this sale can be found here. Insiders have sold a total of 30,914 shares of company stock worth $686,901 over the last quarter. Corporate insiders own 4.42% of the company’s stock.

Several institutional investors have recently made changes to their positions in MOD. Great West Life Assurance Co. Can increased its position in shares of Modine Manufacturing by 142.7% during the 3rd quarter. Great West Life Assurance Co. Can now owns 5,781 shares of the auto parts company’s stock valued at $111,000 after purchasing an additional 3,399 shares during the last quarter. Advisor Group Inc. increased its position in shares of Modine Manufacturing by 599.5% during the 4th quarter. Advisor Group Inc. now owns 6,750 shares of the auto parts company’s stock valued at $136,000 after purchasing an additional 5,785 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Modine Manufacturing during the 3rd quarter valued at about $152,000. Trexquant Investment LP bought a new position in shares of Modine Manufacturing during the 3rd quarter valued at about $222,000. Finally, Investors Research Corp bought a new position in shares of Modine Manufacturing during the 4th quarter valued at about $345,000. Hedge funds and other institutional investors own 84.66% of the company’s stock.

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Modine Manufacturing Company Profile

Modine Manufacturing Company develops, manufactures, and markets engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer vehicular applications. The company operates through Americas, Europe, Asia, and Building HVAC segments. It offers powertrain cooling products, such as engine cooling modules, radiators, charge air coolers, condensers, oil coolers, fan shrouds, and surge tanks; on-engine cooling products consisting of exhaust gas recirculation coolers, engine oil coolers, fuel coolers, charge air coolers, and intake air coolers; and auxiliary coolers, such as transmission and retarder oil coolers, and power steering coolers, as well as component assemblies, radiators, and battery cooling products.

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