Modine Manufacturing Co. (NYSE:MOD) was the target of a significant growth in short interest in November. As of November 29th, there was short interest totalling 1,080,000 shares, a growth of 22.4% from the November 14th total of 882,200 shares. Based on an average daily volume of 365,000 shares, the days-to-cover ratio is presently 3.0 days. Currently, 2.2% of the company’s stock are sold short.

In related news, CFO Michael B. Lucareli purchased 5,000 shares of Modine Manufacturing stock in a transaction dated Wednesday, November 20th. The stock was acquired at an average cost of $6.78 per share, with a total value of $33,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Andrew Burke purchased 10,000 shares of Modine Manufacturing stock in a transaction dated Wednesday, November 20th. The stock was bought at an average cost of $6.81 per share, with a total value of $68,100.00. The disclosure for this purchase can be found here. 5.01% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. LSV Asset Management grew its holdings in Modine Manufacturing by 0.7% during the second quarter. LSV Asset Management now owns 1,638,139 shares of the auto parts company’s stock valued at $23,441,000 after purchasing an additional 11,500 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in Modine Manufacturing by 53.3% during the third quarter. Parametric Portfolio Associates LLC now owns 1,553,908 shares of the auto parts company’s stock valued at $17,668,000 after purchasing an additional 540,290 shares during the last quarter. Wedge Capital Management L L P NC grew its holdings in Modine Manufacturing by 35.3% during the third quarter. Wedge Capital Management L L P NC now owns 1,299,964 shares of the auto parts company’s stock valued at $14,781,000 after purchasing an additional 338,862 shares during the last quarter. Northern Trust Corp grew its holdings in Modine Manufacturing by 1.9% during the second quarter. Northern Trust Corp now owns 989,102 shares of the auto parts company’s stock valued at $14,154,000 after purchasing an additional 18,630 shares during the last quarter. Finally, Granahan Investment Management Inc. MA grew its holdings in Modine Manufacturing by 6.0% during the third quarter. Granahan Investment Management Inc. MA now owns 948,789 shares of the auto parts company’s stock valued at $10,788,000 after purchasing an additional 53,872 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

NYSE:MOD traded down $0.16 during mid-day trading on Friday, reaching $7.42. The stock had a trading volume of 292,848 shares, compared to its average volume of 446,878. The business’s 50 day moving average is $8.59 and its 200 day moving average is $11.22. Modine Manufacturing has a fifty-two week low of $6.58 and a fifty-two week high of $16.67. The stock has a market cap of $376.94 million, a P/E ratio of 4.73, a PEG ratio of 0.89 and a beta of 1.86. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.04 and a quick ratio of 0.68.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Thursday, November 7th. The auto parts company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.12). Modine Manufacturing had a return on equity of 11.95% and a net margin of 1.30%. The firm had revenue of $500.20 million during the quarter, compared to analyst estimates of $514.27 million. During the same quarter in the prior year, the company posted $0.35 EPS. The company’s quarterly revenue was down 8.9% on a year-over-year basis. Equities analysts expect that Modine Manufacturing will post 0.81 EPS for the current year.

A number of research firms have recently issued reports on MOD. DA Davidson reissued a “neutral” rating on shares of Modine Manufacturing in a research report on Wednesday, September 11th. Zacks Investment Research downgraded Modine Manufacturing from a “hold” rating to a “sell” rating in a report on Friday, October 18th. ValuEngine upgraded Modine Manufacturing from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Dougherty & Co downgraded Modine Manufacturing from a “buy” rating to a “neutral” rating in a report on Friday, November 8th. Finally, TheStreet downgraded Modine Manufacturing from a “b-” rating to a “c” rating in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $12.63.

About Modine Manufacturing

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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