Modine Manufacturing (NYSE:MOD) Sets New 52-Week High at $125.75

Modine Manufacturing (NYSE:MOD)’s share price reached a new 52-week high on Thursday . The company traded as high as $125.75 and last traded at $122.78, with a volume of 51561 shares. The stock had previously closed at $116.95.

Analysts Set New Price Targets

MOD has been the subject of a number of analyst reports. William Blair initiated coverage on shares of Modine Manufacturing in a report on Monday, July 29th. They set an “outperform” rating for the company. B. Riley increased their target price on shares of Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. DA Davidson increased their target price on shares of Modine Manufacturing from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Oppenheimer reiterated an “outperform” rating and set a $135.00 target price on shares of Modine Manufacturing in a report on Thursday, September 12th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $138.33.

Modine Manufacturing Stock Up 0.6 %

The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 0.51. The company’s fifty day simple moving average is $109.01 and its 200 day simple moving average is $100.71. The firm has a market capitalization of $6.72 billion, a PE ratio of 42.35, a price-to-earnings-growth ratio of 0.83 and a beta of 2.22.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, July 30th. The auto parts company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.86 by $0.18. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The business had revenue of $661.50 million during the quarter, compared to analyst estimates of $633.55 million. During the same period last year, the business posted $0.85 earnings per share. Modine Manufacturing’s quarterly revenue was up 6.3% compared to the same quarter last year. Analysts anticipate that Modine Manufacturing will post 3.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $109.74, for a total value of $3,775,056.00. Following the completion of the sale, the director now directly owns 144,038 shares in the company, valued at $15,806,730.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Modine Manufacturing

A number of institutional investors and hedge funds have recently made changes to their positions in MOD. Principal Securities Inc. bought a new position in shares of Modine Manufacturing during the fourth quarter valued at approximately $29,000. Acadian Asset Management LLC bought a new position in shares of Modine Manufacturing during the first quarter valued at approximately $37,000. Opal Wealth Advisors LLC bought a new position in shares of Modine Manufacturing during the second quarter valued at approximately $51,000. West Oak Capital LLC increased its stake in shares of Modine Manufacturing by 300.0% during the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock valued at $60,000 after purchasing an additional 450 shares in the last quarter. Finally, Fifth Third Bancorp bought a new position in shares of Modine Manufacturing during the second quarter valued at approximately $64,000. Institutional investors own 95.23% of the company’s stock.

About Modine Manufacturing

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.