Modine Manufacturing (NYSE:MOD) Trading Up 5.1%

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

Analysts Set New Price Targets

Several analysts recently commented on the company. StockNews.com cut Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Oppenheimer started coverage on shares of Modine Manufacturing in a research note on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 price objective on the stock. DA Davidson reissued a “buy” rating and set a $90.00 target price on shares of Modine Manufacturing in a research note on Tuesday, February 27th. Finally, B. Riley reaffirmed a “buy” rating and set a $98.00 price target (up previously from $88.00) on shares of Modine Manufacturing in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Modine Manufacturing has an average rating of “Moderate Buy” and a consensus target price of $97.67.

Modine Manufacturing Stock Performance

The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 0.69 and a beta of 2.29. The company has a 50 day simple moving average of $89.77 and a 200-day simple moving average of $67.43. The company has a quick ratio of 1.21, a current ratio of 1.93 and a debt-to-equity ratio of 0.43.

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

Insider Buying and Selling at Modine Manufacturing

In related news, Director Christopher William Patterson sold 14,225 shares of the stock in a transaction 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 transaction, 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 SEC, which is available through the SEC website. In related news, Director Christopher William Patterson sold 14,225 shares of the stock in a transaction 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 transaction, 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 SEC, which is available through the SEC website. Also, VP Brian Jon Agen sold 16,799 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $95.64, for a total value of $1,606,656.36. Following the completion of the transaction, the vice president now owns 102,409 shares in the company, valued at $9,794,396.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,336 shares of company stock valued at $10,330,115. Company insiders own 2.86% of the company’s stock.

Hedge Funds Weigh In On Modine Manufacturing

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Modine Manufacturing by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 3,070,556 shares of the auto parts company’s stock worth $183,312,000 after purchasing an additional 13,663 shares in the last quarter. Brown Advisory Inc. lifted its stake in Modine Manufacturing by 9.8% during the 3rd quarter. Brown Advisory Inc. now owns 1,471,477 shares of the auto parts company’s stock valued at $67,320,000 after acquiring an additional 131,734 shares in the last quarter. Capital International Investors lifted its stake in Modine Manufacturing by 35.1% during the 4th quarter. Capital International Investors now owns 1,013,899 shares of the auto parts company’s stock valued at $60,530,000 after acquiring an additional 263,614 shares in the last quarter. Hennessy Advisors Inc. lifted its stake in Modine Manufacturing by 20.4% during the 1st quarter. Hennessy Advisors Inc. now owns 714,400 shares of the auto parts company’s stock valued at $68,004,000 after acquiring an additional 121,200 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Modine Manufacturing by 570.1% during the 3rd quarter. American Century Companies Inc. now owns 700,758 shares of the auto parts company’s stock valued at $32,060,000 after acquiring an additional 596,177 shares in the last quarter. 95.23% of the stock is currently owned by 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. 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.