Modine Manufacturing (MOD) Trading Down 7.1%

Modine Manufacturing (NYSE:MOD)’s share price dropped 7.1% during mid-day trading on Tuesday . The company traded as low as $18.35 and last traded at $18.40. Approximately 632,779 shares were traded during trading, an increase of 72% from the average daily volume of 368,265 shares. The stock had previously closed at $19.80.

MOD has been the subject of a number of research analyst reports. Zacks Investment Research raised Modine Manufacturing from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Wednesday, January 10th. ValuEngine cut Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Friday, April 13th.

The firm has a market cap of $928.49, a P/E ratio of 23.01 and a beta of 1.33. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.24 and a quick ratio of 0.85.

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

In related news, Director Marsha C. Williams sold 15,000 shares of the stock in a transaction that occurred on Wednesday, March 28th. The stock was sold at an average price of $20.91, for a total value of $313,650.00. Following the completion of the sale, the director now owns 84,541 shares of the company’s stock, valued at $1,767,752.31. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Matthew J. Mcburney sold 2,379 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $25.05, for a total value of $59,593.95. The disclosure for this sale can be found here. Insiders have sold 30,914 shares of company stock valued at $686,901 in the last three months. Insiders own 4.42% of the company’s stock.

Several large investors have recently bought and sold shares of MOD. Great West Life Assurance Co. Can grew its position in Modine Manufacturing by 142.7% in the third quarter. Great West Life Assurance Co. Can now owns 5,781 shares of the auto parts company’s stock worth $111,000 after acquiring an additional 3,399 shares during the period. Advisor Group Inc. raised its stake in shares of Modine Manufacturing by 599.5% in the fourth quarter. Advisor Group Inc. now owns 6,750 shares of the auto parts company’s stock worth $136,000 after acquiring an additional 5,785 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Modine Manufacturing in the third quarter worth about $152,000. Investors Research Corp bought a new position in shares of Modine Manufacturing in the fourth quarter worth about $345,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Modine Manufacturing in the fourth quarter worth about $361,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

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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