Modine Manufacturing (NYSE:MOD) Hits New 1-Year High at $125.75

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

Analysts Set New Price Targets

MOD has been the topic of a number of research reports. DA Davidson boosted 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. B. Riley lifted their target price on shares of Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. William Blair assumed coverage on shares of Modine Manufacturing in a research report on Monday, July 29th. They issued an “outperform” rating on the stock. Finally, Oppenheimer reissued an “outperform” rating and issued a $135.00 target price on shares of Modine Manufacturing in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $138.33.

Modine Manufacturing Stock Performance

The firm’s 50-day moving average price is $108.21 and its two-hundred day moving average price is $100.27. The firm has a market capitalization of $6.44 billion, a PE ratio of 38.60, a P/E/G ratio of 0.83 and a beta of 2.22. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Tuesday, July 30th. The auto parts company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.18. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The firm had revenue of $661.50 million for the quarter, compared to the consensus estimate of $633.55 million. During the same period in the previous year, the firm posted $0.85 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. As a group, research analysts predict that Modine Manufacturing will post 3.85 earnings per share for the current fiscal year.

Insider Activity at Modine Manufacturing

In related news, Director Marsha C. Williams sold 34,400 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the transaction, the director now directly owns 144,038 shares of the company’s stock, valued at $15,806,730.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.40% of the stock is currently owned by insiders.

Institutional Trading of Modine Manufacturing

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Modine Manufacturing by 27.3% in the first quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock worth $372,099,000 after acquiring an additional 838,460 shares in the last quarter. Capital International Investors lifted its stake in shares of Modine Manufacturing by 40.6% in the first quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company’s stock worth $135,726,000 after buying an additional 411,946 shares during the last quarter. Driehaus Capital Management LLC lifted its stake in shares of Modine Manufacturing by 32.8% in the second quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock worth $110,403,000 after buying an additional 272,174 shares during the last quarter. Hennessy Advisors Inc. lifted its stake in shares of Modine Manufacturing by 20.4% in the first quarter. Hennessy Advisors Inc. now owns 714,400 shares of the auto parts company’s stock worth $68,004,000 after buying an additional 121,200 shares during the last quarter. Finally, Fred Alger Management LLC raised its stake in Modine Manufacturing by 5.1% during the 2nd quarter. Fred Alger Management LLC now owns 369,840 shares of the auto parts company’s stock valued at $37,054,000 after purchasing an additional 17,889 shares during the last quarter. 95.23% of the stock is owned by institutional investors.

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.