Posted by admin on Jun 21st, 2022

Modine Manufacturing (NYSE:MOD – Get Rating)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.67 and traded as high as $10.68. Modine Manufacturing shares last traded at $10.55, with a volume of 6,537 shares.

Separately, StockNews.com started coverage on shares of Modine Manufacturing in a research note on Thursday, March 31st. They issued a “buy” rating for the company.

The business has a 50-day moving average price of $9.40 and a 200-day moving average price of $9.67. The firm has a market capitalization of $548.29 million, a price-to-earnings ratio of 6.51 and a beta of 2.38. The company has a quick ratio of 0.96, a current ratio of 1.53 and a debt-to-equity ratio of 0.76.

Modine Manufacturing (NYSE:MOD – Get Rating) last issued its quarterly earnings results on Wednesday, May 25th. The auto parts company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. Modine Manufacturing had a return on equity of 15.93% and a net margin of 4.16%. During the same quarter in the prior year, the firm earned $0.51 EPS. On average, equities research analysts forecast that Modine Manufacturing will post 1.65 earnings per share for the current year.

In other news, CFO Michael B. Lucareli sold 3,783 shares of the company’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $11.94, for a total transaction of $45,169.02. Following the transaction, the chief financial officer now directly owns 274,572 shares of the company’s stock, valued at $3,278,389.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.81% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Paradigm Capital Management Inc. NY grew its holdings in shares of Modine Manufacturing by 3.8% during the first quarter. Paradigm Capital Management Inc. NY now owns 2,000,650 shares of the auto parts company’s stock valued at $18,026,000 after buying an additional 74,050 shares during the last quarter. Gabelli Funds LLC grew its holdings in shares of Modine Manufacturing by 1.8% during the first quarter. Gabelli Funds LLC now owns 840,200 shares of the auto parts company’s stock valued at $7,570,000 after buying an additional 15,000 shares during the last quarter. Quantbot Technologies LP grew its holdings in shares of Modine Manufacturing by 123.5% during the first quarter. Quantbot Technologies LP now owns 3,800 shares of the auto parts company’s stock valued at $34,000 after buying an additional 2,100 shares during the last quarter. Royal Bank of Canada boosted its holdings in Modine Manufacturing by 1.4% in the first quarter. Royal Bank of Canada now owns 103,123 shares of the auto parts company’s stock valued at $929,000 after purchasing an additional 1,460 shares during the last quarter. Finally, Delphia USA Inc. purchased a new stake in Modine Manufacturing in the first quarter valued at $128,000. 94.42% of the stock is currently owned by hedge funds and other institutional investors.

About Modine Manufacturing (NYSE:MOD)

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.

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