Modine Manufacturing (NYSE:MOD) Trading 5.8% Higher

Modine Manufacturing (NYSE:MOD) shares were up 5.8% during trading on Monday . The stock traded as high as $99.80 and last traded at $99.53. Approximately 125,989 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 948,551 shares. The stock had previously closed at $94.11.

Wall Street Analyst Weigh In

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

Modine Manufacturing Stock Performance

The business’s fifty day moving average is $92.41 and its 200-day moving average is $70.79. The company has a quick ratio of 1.21, a current ratio of 1.93 and a debt-to-equity ratio of 0.43. The company has a market cap of $5.47 billion, a PE ratio of 24.69, a P/E/G ratio of 0.72 and a beta of 2.28.

Insider Transactions at Modine Manufacturing

In other Modine Manufacturing news, CFO Michael B. Lucareli sold 82,312 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $90.33, for a total value of $7,435,242.96. Following the completion of the sale, the chief financial officer now owns 194,587 shares in the company, valued at $17,577,043.71. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Modine Manufacturing news, Director Christopher William Patterson sold 14,225 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $90.56, for a total transaction of $1,288,216.00. Following the sale, the director now owns 97,517 shares in the company, valued at approximately $8,831,139.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael B. Lucareli sold 82,312 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the transaction, the chief financial officer now directly owns 194,587 shares in the company, valued at approximately $17,577,043.71. The disclosure for this sale can be found here. Insiders sold 113,336 shares of company stock worth $10,330,115 in the last three months. Corporate insiders own 2.86% of the company’s stock.

Institutional Trading of Modine Manufacturing

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Reinhart Partners LLC. purchased a new position in Modine Manufacturing in the 4th quarter worth approximately $41,129,000. American Century Companies Inc. lifted its holdings in shares of Modine Manufacturing by 570.1% in the third quarter. American Century Companies Inc. now owns 700,758 shares of the auto parts company’s stock worth $32,060,000 after buying an additional 596,177 shares in the last quarter. Hennessy Advisors Inc. bought a new position in shares of Modine Manufacturing during the fourth quarter worth $35,414,000. Adage Capital Partners GP L.L.C. increased its holdings in Modine Manufacturing by 159.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 480,118 shares of the auto parts company’s stock valued at $21,965,000 after acquiring an additional 295,118 shares during the last quarter. Finally, Capital International Investors lifted its stake in Modine Manufacturing by 35.1% in the 4th quarter. Capital International Investors now owns 1,013,899 shares of the auto parts company’s stock worth $60,530,000 after purchasing an additional 263,614 shares in the last quarter. 95.23% of the stock is owned by hedge funds and other 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.