Modine Manufacturing Company (NYSE:MOD) Short Interest Update

Modine Manufacturing Company (NYSE:MOD) saw a large decline in short interest in the month of February. As of February 13th, there was short interest totaling 3,843,093 shares, a decline of 19.8% from the January 29th total of 4,790,187 shares. Currently, 7.5% of the company’s shares are sold short. Based on an average daily trading volume, of 1,967,838 shares, the short-interest ratio is currently 2.0 days. Based on an average daily trading volume, of 1,967,838 shares, the short-interest ratio is currently 2.0 days. Currently, 7.5% of the company’s shares are sold short.

Modine Manufacturing Stock Performance

Shares of NYSE MOD traded down $26.75 during midday trading on Tuesday, reaching $211.75. The company had a trading volume of 1,678,537 shares, compared to its average volume of 1,596,166. Modine Manufacturing has a 1 year low of $64.79 and a 1 year high of $243.80. The business’s 50-day simple moving average is $172.23 and its 200 day simple moving average is $156.23. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. The stock has a market cap of $11.17 billion, a P/E ratio of 117.64, a P/E/G ratio of 1.39 and a beta of 1.66.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The firm had revenue of $805.00 million during the quarter, compared to the consensus estimate of $763.54 million. During the same quarter in the previous year, the company posted $0.92 earnings per share. The company’s revenue was up 30.5% compared to the same quarter last year. On average, analysts forecast that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Suresh V. Garimella sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total transaction of $202,477.00. Following the transaction, the director directly owned 79,856 shares of the company’s stock, valued at approximately $14,699,093.92. This trade represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.48% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MOD. Kemnay Advisory Services Inc. purchased a new stake in Modine Manufacturing in the fourth quarter valued at $25,000. Spire Wealth Management acquired a new position in shares of Modine Manufacturing in the 4th quarter valued at about $27,000. First Horizon Corp acquired a new position in shares of Modine Manufacturing in the 3rd quarter valued at about $38,000. Sunbelt Securities Inc. acquired a new stake in Modine Manufacturing during the third quarter worth about $39,000. Finally, Parkside Financial Bank & Trust raised its position in Modine Manufacturing by 2,025.0% during the second quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock valued at $42,000 after acquiring an additional 405 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MOD shares. Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, February 22nd. UBS Group began coverage on shares of Modine Manufacturing in a research note on Thursday, November 20th. They issued a “buy” rating and a $173.00 price objective for the company. Zacks Research upgraded Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. DA Davidson boosted their target price on shares of Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Finally, Oppenheimer lifted their price objective on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $223.20.

Modine Manufacturing Company Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.