Modine Manufacturing (NYSE:MOD) Sets New 1-Year High – Here’s Why

Shares of Modine Manufacturing Company (NYSE:MOD) hit a new 52-week high on Tuesday . The stock traded as high as $236.81 and last traded at $229.7660, with a volume of 413716 shares trading hands. The stock had previously closed at $222.50.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MOD. Wall Street Zen cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday. Roth Mkm initiated coverage on Modine Manufacturing in a report on Wednesday, February 18th. They issued a “buy” rating and a $263.00 price objective for the company. Zacks Research upgraded shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. DA Davidson upped their price target on shares of Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Finally, Oppenheimer raised their price target on Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Modine Manufacturing has a consensus rating of “Buy” and a consensus price target of $223.20.

Modine Manufacturing Trading Up 5.2%

The firm has a market cap of $12.34 billion, a P/E ratio of 130.05, a PEG ratio of 1.38 and a beta of 1.70. The company’s 50 day moving average is $162.49 and its two-hundred day moving average is $152.95. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.19 and a quick ratio of 1.28.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.20. The firm had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $763.54 million. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The company’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. On average, sell-side analysts predict that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

Insider Activity

In other Modine Manufacturing news, CEO Neil David Brinker sold 31,871 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total value of $5,117,207.76. Following the sale, the chief executive officer owned 238,312 shares in the company, valued at $38,263,374.72. This represents a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Suresh V. Garimella sold 1,100 shares of Modine Manufacturing stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total value of $202,477.00. Following the transaction, the director owned 79,856 shares of the company’s stock, valued at $14,699,093.92. This represents a 1.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 34,071 shares of company stock valued at $5,484,685 over the last 90 days. Corporate insiders own 2.48% of the company’s stock.

Institutional Investors Weigh In On Modine Manufacturing

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Modine Manufacturing by 1.9% in the third quarter. Vanguard Group Inc. now owns 5,080,874 shares of the auto parts company’s stock valued at $722,297,000 after buying an additional 97,035 shares during the period. Wellington Management Group LLP increased its holdings in Modine Manufacturing by 4.7% in the 4th quarter. Wellington Management Group LLP now owns 2,879,299 shares of the auto parts company’s stock valued at $384,415,000 after buying an additional 130,511 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Modine Manufacturing by 31.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock worth $311,503,000 after acquiring an additional 560,131 shares during the period. Wasatch Advisors LP increased its stake in Modine Manufacturing by 1.4% in the second quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock valued at $176,553,000 after acquiring an additional 23,955 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in Modine Manufacturing by 13.8% during the fourth quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock worth $197,358,000 after purchasing an additional 179,617 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

About Modine Manufacturing

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.