Modine Manufacturing (NYSE:MOD) Hits New 1-Year High at $125.75

Modine Manufacturing (NYSE:MOD)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $125.75 and last traded at $122.78, with a volume of 51561 shares changing hands. The stock had previously closed at $116.95.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MOD shares. B. Riley upped their target price on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. DA Davidson upped their target price on shares of Modine Manufacturing from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Oppenheimer reiterated an “outperform” rating and set a $135.00 target price on shares of Modine Manufacturing in a research note on Thursday, September 12th. Finally, William Blair assumed coverage on shares of Modine Manufacturing in a research note on Monday, July 29th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.33.

Modine Manufacturing Trading Up 5.2 %

The company’s fifty day moving average price is $108.21 and its two-hundred day moving average price is $100.27. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. The firm has a market cap of $6.44 billion, a P/E ratio of 38.60, a price-to-earnings-growth ratio of 0.83 and a beta of 2.22.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.18. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The business had revenue of $661.50 million for the quarter, compared to analyst estimates of $633.55 million. During the same quarter in the prior year, the firm earned $0.85 EPS. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that Modine Manufacturing will post 3.85 EPS for the current fiscal year.

Insider Transactions at Modine Manufacturing

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the sale, the director now owns 144,038 shares of the company’s stock, valued at approximately $15,806,730.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Modine Manufacturing

A number of hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new stake in Modine Manufacturing during the 2nd quarter worth about $1,382,000. Teachers Retirement System of The State of Kentucky acquired a new position in Modine Manufacturing during the 2nd quarter valued at about $1,475,000. Cetera Investment Advisers lifted its position in Modine Manufacturing by 33.2% during the 2nd quarter. Cetera Investment Advisers now owns 25,856 shares of the auto parts company’s stock valued at $2,591,000 after purchasing an additional 6,451 shares during the period. Truist Financial Corp lifted its position in Modine Manufacturing by 12.0% during the 2nd quarter. Truist Financial Corp now owns 34,457 shares of the auto parts company’s stock valued at $3,452,000 after purchasing an additional 3,683 shares during the period. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Modine Manufacturing during the 2nd quarter valued at about $492,000. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.