Modine Manufacturing Co. (NYSE:MOD) VP Scott D. Wollenberg sold 35,334 shares of the company’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $15.35, for a total value of $542,376.90. The sale was disclosed in a filing with the SEC, which is available at this link.
Modine Manufacturing stock opened at $14.82 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.30 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $756.90 million, a price-to-earnings ratio of 9.62 and a beta of 2.03. Modine Manufacturing Co. has a 12 month low of $9.75 and a 12 month high of $25.75.
Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Thursday, January 31st. The auto parts company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.08. Modine Manufacturing had a return on equity of 16.34% and a net margin of 4.32%. The company had revenue of $541.00 million during the quarter, compared to analysts’ expectations of $532.74 million. On average, research analysts anticipate that Modine Manufacturing Co. will post 1.56 EPS for the current year.
Modine Manufacturing declared that its board has authorized a share buyback plan on Tuesday, October 30th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to reacquire up to 8.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Hedge funds have recently bought and sold shares of the company. Advisor Group Inc. increased its position in Modine Manufacturing by 129.3% in the fourth quarter. Advisor Group Inc. now owns 3,346 shares of the auto parts company’s stock worth $36,000 after buying an additional 1,887 shares during the last quarter. Bank of Montreal Can grew its position in Modine Manufacturing by 23.3% during the fourth quarter. Bank of Montreal Can now owns 6,173 shares of the auto parts company’s stock worth $67,000 after buying an additional 1,165 shares in the last quarter. Eqis Capital Management Inc. purchased a new position in Modine Manufacturing during the fourth quarter worth about $124,000. Stone Ridge Asset Management LLC purchased a new position in Modine Manufacturing during the third quarter worth about $178,000. Finally, Clearstead Advisors LLC grew its position in Modine Manufacturing by 34.6% during the fourth quarter. Clearstead Advisors LLC now owns 19,460 shares of the auto parts company’s stock worth $210,000 after buying an additional 5,000 shares in the last quarter. Institutional investors own 87.24% of the company’s stock.
MOD has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Modine Manufacturing from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. ValuEngine upgraded Modine Manufacturing from a “strong sell” rating to a “sell” rating in a research report on Saturday, February 2nd.
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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 primarily in the United States. The company operates through Americas, Europe, Asia, Commercial and Industrial Solutions, and Building HVAC segments.
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