Modine Manufacturing (MOD) Lifted to “Sell” at ValuEngine

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Modine Manufacturing (NYSE:MOD) was upgraded by ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued on Friday, ValuEngine reports.

Separately, Zacks Investment Research raised shares of Modine Manufacturing from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Tuesday, February 5th.

Modine Manufacturing stock opened at $14.14 on Friday. Modine Manufacturing has a twelve month low of $9.75 and a twelve month high of $19.50. The company has a market cap of $715.88 million, a PE ratio of 9.18 and a beta of 1.97. The company has a quick ratio of 0.85, a current ratio of 1.30 and a debt-to-equity ratio of 0.66.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Wednesday, May 22nd. The auto parts company reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.02. Modine Manufacturing had a net margin of 4.32% and a return on equity of 16.34%. The firm had revenue of $556.70 million during the quarter, compared to the consensus estimate of $577.30 million. During the same period in the prior year, the firm earned $0.44 EPS. The company’s revenue was down 1.7% compared to the same quarter last year. On average, equities analysts expect that Modine Manufacturing will post 1.57 EPS for the current fiscal year.

In related news, VP Matthew J. Mcburney sold 4,988 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $14.74, for a total value of $73,523.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dennis P. Appel purchased 3,180 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was purchased at an average cost of $13.99 per share, with a total value of $44,488.20. Following the completion of the acquisition, the vice president now owns 33,543 shares in the company, valued at $469,266.57. The disclosure for this purchase can be found here. 4.48% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in MOD. Quantamental Technologies LLC bought a new position in Modine Manufacturing in the 1st quarter valued at $29,000. Advisor Group Inc. boosted its holdings in Modine Manufacturing by 129.3% in the 4th quarter. Advisor Group Inc. now owns 3,346 shares of the auto parts company’s stock valued at $36,000 after purchasing an additional 1,887 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of Modine Manufacturing during the 1st quarter valued at $54,000. Bank of Montreal Can raised its position in shares of Modine Manufacturing by 23.3% during the 4th quarter. Bank of Montreal Can now owns 6,173 shares of the auto parts company’s stock valued at $67,000 after buying an additional 1,165 shares in the last quarter. Finally, Eqis Capital Management Inc. purchased a new stake in shares of Modine Manufacturing during the 4th quarter valued at $124,000. 88.47% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications primarily in the United States. The company operates through Americas, Europe, Asia, Commercial and Industrial Solutions, and Building HVAC segments.

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