Modine Manufacturing (NYSE:MOD) Hits New 1-Year High at $118.07

Modine Manufacturing (NYSE:MOD)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $118.07 and last traded at $117.69, with a volume of 134443 shares. The stock had previously closed at $114.36.

Analyst Ratings Changes

MOD has been the subject of a number of research analyst reports. Oppenheimer increased their price objective on shares of Modine Manufacturing from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. DA Davidson increased their price objective on shares of Modine Manufacturing from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Finally, B. Riley restated a “buy” rating and issued a $125.00 price target on shares of Modine Manufacturing in a research note on Thursday, June 27th.

Modine Manufacturing Trading Up 3.3 %

The company’s fifty day moving average is $101.17 and its two-hundred day moving average is $89.85. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.53. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 37.74, a PEG ratio of 0.85 and a beta of 2.27.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, May 21st. The auto parts company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02). Modine Manufacturing had a return on equity of 24.69% and a net margin of 6.71%. The business had revenue of $603.50 million for the quarter, compared to analysts’ expectations of $605.44 million. During the same period last year, the firm earned $0.67 earnings per share. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. On average, research analysts predict that Modine Manufacturing will post 3.7 EPS for the current fiscal year.

Institutional Trading of Modine Manufacturing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Modine Manufacturing by 27.3% in the 1st quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock valued at $372,099,000 after buying an additional 838,460 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Modine Manufacturing during the fourth quarter worth about $35,414,000. Capital International Investors increased its position in shares of Modine Manufacturing by 40.6% during the first quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company’s stock worth $135,726,000 after purchasing an additional 411,946 shares in the last quarter. Axiom Investors LLC DE lifted its holdings in shares of Modine Manufacturing by 286.0% in the 4th quarter. Axiom Investors LLC DE now owns 281,690 shares of the auto parts company’s stock valued at $16,817,000 after purchasing an additional 208,715 shares during the last quarter. Finally, Capital World Investors acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at about $11,623,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

About Modine Manufacturing

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.