Modine Manufacturing (NYSE:MOD) Shares Up 9.1%

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Shares of Modine Manufacturing Co. (NYSE:MOD) shot up 9.1% during trading on Monday . The company traded as high as $5.40 and last traded at $5.40, 460,514 shares were traded during mid-day trading. A decline of 1% from the average session volume of 466,201 shares. The stock had previously closed at $4.95.

A number of brokerages recently commented on MOD. Sidoti lowered their price objective on Modine Manufacturing from $17.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. ValuEngine upgraded Modine Manufacturing from a “strong sell” rating to a “sell” rating in a research report on Monday, June 8th. Zacks Investment Research lowered Modine Manufacturing from a “hold” rating to a “sell” rating in a research report on Thursday, June 4th. Finally, DA Davidson decreased their target price on Modine Manufacturing from $8.00 to $4.50 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $8.75.

The company has a market capitalization of $274.45 million, a price-to-earnings ratio of 5.14, a price-to-earnings-growth ratio of 0.60 and a beta of 2.35. The company has a 50-day moving average price of $4.98 and a 200-day moving average price of $5.86. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.14 and a current ratio of 1.70.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Thursday, May 28th. The auto parts company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.12. Modine Manufacturing had a positive return on equity of 10.12% and a negative net margin of 0.11%. The company had revenue of $472.90 million during the quarter, compared to analyst estimates of $489.67 million. As a group, sell-side analysts anticipate that Modine Manufacturing Co. will post 0.89 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its position in shares of Modine Manufacturing by 1.0% in the 1st quarter. BlackRock Inc. now owns 3,754,286 shares of the auto parts company’s stock valued at $12,201,000 after purchasing an additional 37,505 shares during the period. Parametric Portfolio Associates LLC grew its position in shares of Modine Manufacturing by 71.0% in the 1st quarter. Parametric Portfolio Associates LLC now owns 1,960,065 shares of the auto parts company’s stock valued at $6,370,000 after purchasing an additional 813,690 shares during the period. Wedge Capital Management L L P NC grew its position in shares of Modine Manufacturing by 2.0% in the 1st quarter. Wedge Capital Management L L P NC now owns 1,359,674 shares of the auto parts company’s stock valued at $4,419,000 after purchasing an additional 26,469 shares during the period. State Street Corp grew its position in shares of Modine Manufacturing by 1.4% in the 1st quarter. State Street Corp now owns 1,040,420 shares of the auto parts company’s stock valued at $3,381,000 after purchasing an additional 14,563 shares during the period. Finally, DNB Asset Management AS grew its position in shares of Modine Manufacturing by 141.6% in the 1st quarter. DNB Asset Management AS now owns 872,176 shares of the auto parts company’s stock valued at $2,835,000 after purchasing an additional 511,159 shares during the period. Institutional investors and hedge funds own 86.07% of the company’s stock.

About Modine Manufacturing (NYSE:MOD)

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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