Modine Manufacturing (NYSE:MOD) Posts Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Modine Manufacturing (NYSE:MOD – Get Rating) announced its earnings results on Wednesday. The auto parts company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.19, Briefing.com reports. The business had revenue of $618.10 million during the quarter, compared to analysts’ expectations of $583.70 million. Modine Manufacturing had a net margin of 3.18% and a return on equity of 21.07%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the company posted $0.57 EPS.

Modine Manufacturing Trading Up 11.5 %

Shares of NYSE MOD opened at $22.00 on Thursday. The company has a market cap of $1.15 billion, a PE ratio of 16.30, a P/E/G ratio of 0.35 and a beta of 2.25. The company has a current ratio of 1.73, a quick ratio of 1.06 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average of $21.25 and a two-hundred day moving average of $21.80. Modine Manufacturing has a 1-year low of $9.94 and a 1-year high of $26.90.

Analyst Ratings Changes

MOD has been the subject of a number of research analyst reports. StockNews.com initiated coverage on shares of Modine Manufacturing in a research note on Thursday, May 18th. They issued a “strong-buy” rating for the company. DA Davidson lifted their price objective on Modine Manufacturing from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, February 21st. Three equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Modine Manufacturing currently has a consensus rating of “Buy” and a consensus target price of $33.50.

Insider Transactions at Modine Manufacturing

In other news, VP Brian Jon Agen sold 3,248 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of $22.37, for a total transaction of $72,657.76. Following the completion of the sale, the vice president now owns 110,329 shares in the company, valued at approximately $2,468,059.73. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MOD. Putnam Investments LLC boosted its position in shares of Modine Manufacturing by 16.7% during the first quarter. Putnam Investments LLC now owns 79,169 shares of the auto parts company’s stock worth $1,825,000 after purchasing an additional 11,349 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Modine Manufacturing by 31.3% in the 1st quarter. JPMorgan Chase & Co. now owns 39,624 shares of the auto parts company’s stock valued at $914,000 after acquiring an additional 9,456 shares in the last quarter. Front Street Capital Management Inc. boosted its holdings in Modine Manufacturing by 2.9% during the first quarter. Front Street Capital Management Inc. now owns 79,430 shares of the auto parts company’s stock worth $1,831,000 after purchasing an additional 2,233 shares during the last quarter. State Street Corp boosted its stake in shares of Modine Manufacturing by 3.8% during the 1st quarter. State Street Corp now owns 1,135,999 shares of the auto parts company’s stock worth $26,185,000 after buying an additional 41,447 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in Modine Manufacturing by 8.7% in the first quarter. First Trust Advisors LP now owns 139,643 shares of the auto parts company’s stock valued at $3,219,000 after purchasing an additional 11,131 shares in the last quarter. Institutional investors and hedge funds own 89.09% of the company’s stock.

About Modine Manufacturing

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Modine Manufacturing Co engages in provision of thermal management solutions. It operates through the following segments: Heavy-Duty Equipment(HDE), Automotive, Commercial and Industrial Solutions (CIS), and Building HVAC Systems (BHVAC). The HDE segment provides powertrain and engine cooling products, including, but not limited to, radiators, charge air coolers, condensers, oil coolers, EGR coolers, fuel coolers, electronics cooling packages, and battery thermal management systems to OEMs in the commercial vehicle, off-highway, and automotive and light vehicle markets in North America, South America, Europe, and Asia.