Modine Manufacturing Company (NYSE:MOD – Get Free Report) shares traded down 3.2% on Monday . The stock traded as low as $234.01 and last traded at $234.01. 71,001 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 1,344,517 shares. The stock had previously closed at $241.79.
Analyst Ratings Changes
A number of research firms have recently issued reports on MOD. Zacks Research downgraded shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. B. Riley Financial upped their target price on Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Oppenheimer increased their target price on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. DA Davidson reaffirmed a “buy” rating and set a $330.00 target price on shares of Modine Manufacturing in a research report on Monday, June 22nd. Finally, KeyCorp lifted their price target on Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Modine Manufacturing currently has an average rating of “Moderate Buy” and an average price target of $327.14.
Check Out Our Latest Research Report on MOD
Modine Manufacturing Stock Down 9.6%
Modine Manufacturing (NYSE:MOD – Get Free Report) last issued its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.20. The business had revenue of $954.40 million for the quarter, compared to analyst estimates of $920.67 million. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. Modine Manufacturing’s revenue for the quarter was up 47.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.12 EPS. As a group, analysts anticipate that Modine Manufacturing Company will post 7.72 EPS for the current year.
Insider Activity at Modine Manufacturing
In other Modine Manufacturing news, insider Eric S. Mcginnis sold 1,020 shares of Modine Manufacturing stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the sale, the insider owned 28,364 shares of the company’s stock, valued at approximately $8,369,081.84. The trade was a 3.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eric D. Ashleman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total value of $4,328,100.00. Following the sale, the director owned 42,350 shares in the company, valued at approximately $12,219,669. The trade was a 26.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 54,302 shares of company stock valued at $15,928,759 in the last ninety days. Company insiders own 1.92% of the company’s stock.
Institutional Investors Weigh In On Modine Manufacturing
A number of institutional investors and hedge funds have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in Modine Manufacturing in the first quarter valued at approximately $25,000. Kemnay Advisory Services Inc. purchased a new position in Modine Manufacturing during the 4th quarter worth approximately $25,000. Spire Wealth Management acquired a new stake in Modine Manufacturing during the 4th quarter valued at approximately $27,000. Optiver Holding B.V. lifted its stake in Modine Manufacturing by 19.7% during the 1st quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock valued at $51,000 after acquiring an additional 39 shares during the period. Finally, Sunbelt Securities Inc. purchased a new stake in shares of Modine Manufacturing in the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 95.23% of the company’s stock.
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.
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