Modine Manufacturing (NYSE:MOD) Shares Up 5.1%

Modine Manufacturing (NYSE:MOD) shot up 5.1% during trading on Wednesday . The company traded as high as $95.00 and last traded at $93.59. 227,024 shares traded hands during trading, a decline of 77% from the average session volume of 974,547 shares. The stock had previously closed at $89.05.

Wall Street Analyst Weigh In

A number of brokerages have commented on MOD. Oppenheimer began coverage on shares of Modine Manufacturing in a research report on Tuesday, March 19th. They set an “outperform” rating and a $105.00 price target on the stock. StockNews.com cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. DA Davidson restated a “buy” rating and issued a $90.00 target price on shares of Modine Manufacturing in a report on Tuesday, February 27th. Finally, B. Riley restated a “buy” rating and issued a $98.00 target price (up previously from $88.00) on shares of Modine Manufacturing in a report on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.67.

Modine Manufacturing Trading Up 1.2 %

The company has a quick ratio of 1.21, a current ratio of 1.93 and a debt-to-equity ratio of 0.43. The firm has a market cap of $4.70 billion, a P/E ratio of 21.00, a PEG ratio of 0.66 and a beta of 2.29. The firm’s fifty day moving average is $89.27 and its two-hundred day moving average is $67.08.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, January 30th. The auto parts company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.17. The firm had revenue of $561.40 million during the quarter, compared to analyst estimates of $594.84 million. Modine Manufacturing had a return on equity of 25.28% and a net margin of 9.31%. Modine Manufacturing’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 EPS. Analysts predict that Modine Manufacturing will post 3.27 earnings per share for the current fiscal year.

Insider Transactions at Modine Manufacturing

In related news, Director Christopher William Patterson sold 14,225 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $90.56, for a total transaction of $1,288,216.00. Following the completion of the sale, the director now directly owns 97,517 shares in the company, valued at approximately $8,831,139.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Modine Manufacturing news, Director Christopher William Patterson sold 14,225 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $90.56, for a total value of $1,288,216.00. Following the sale, the director now directly owns 97,517 shares of the company’s stock, valued at $8,831,139.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Brian Jon Agen sold 16,799 shares of Modine Manufacturing stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $95.64, for a total transaction of $1,606,656.36. Following the sale, the vice president now directly owns 102,409 shares in the company, valued at approximately $9,794,396.76. The disclosure for this sale can be found here. Insiders have sold 113,336 shares of company stock valued at $10,330,115 in the last ninety days. Corporate insiders own 2.86% of the company’s stock.

Hedge Funds Weigh In On Modine Manufacturing

Institutional investors have recently modified their holdings of the business. Principal Securities Inc. acquired a new position in shares of Modine Manufacturing during the fourth quarter worth about $29,000. Spire Wealth Management purchased a new position in shares of Modine Manufacturing during the first quarter valued at approximately $79,000. Banque Cantonale Vaudoise purchased a new position in Modine Manufacturing during the first quarter worth approximately $101,000. Nisa Investment Advisors LLC increased its position in shares of Modine Manufacturing by 51.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,172 shares of the auto parts company’s stock worth $70,000 after acquiring an additional 400 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Modine Manufacturing by 49.9% in the third quarter. PNC Financial Services Group Inc. now owns 2,206 shares of the auto parts company’s stock worth $101,000 after acquiring an additional 734 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

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. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.