Modine Manufacturing (NYSE:MOD) Stock Price Down 5.3% – Time to Sell?

Modine Manufacturing (NYSE:MOD) was down 5.3% during mid-day trading on Friday . The company traded as low as $111.55 and last traded at $111.57. Approximately 468,561 shares traded hands during trading, a decline of 45% from the average daily volume of 856,121 shares. The stock had previously closed at $117.77.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Oppenheimer boosted their target price on shares of Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday. DA Davidson increased their price objective on Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. William Blair assumed coverage on Modine Manufacturing in a report on Monday, July 29th. They issued an “outperform” rating on the stock. Finally, B. Riley upped their price target on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $146.67.

Modine Manufacturing Stock Down 5.2 %

The stock’s 50-day simple moving average is $122.85 and its 200-day simple moving average is $108.66. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $5.86 billion, a P/E ratio of 36.60, a P/E/G ratio of 0.90 and a beta of 2.25.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The company had revenue of $658.00 million during the quarter, compared to the consensus estimate of $646.86 million. During the same period last year, the business posted $0.89 earnings per share. Modine Manufacturing’s revenue was up 6.0% 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 Buying and Selling

In related 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 transaction of $3,775,056.00. Following the completion of the sale, the director now owns 144,038 shares in the company, valued at approximately $15,806,730.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.40% of the stock is owned by insiders.

Institutional Trading of Modine Manufacturing

A number of large investors have recently bought and sold shares of MOD. Vanguard Group Inc. grew its stake in shares of Modine Manufacturing by 27.3% during the 1st 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 during the period. Capital International Investors raised its position 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 valued at $135,726,000 after purchasing an additional 411,946 shares during the period. Driehaus Capital Management LLC lifted its stake in shares of Modine Manufacturing by 32.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock valued at $110,403,000 after buying an additional 272,174 shares in the last quarter. Emerald Advisers LLC bought a new position in Modine Manufacturing in the 2nd quarter worth approximately $26,064,000. Finally, Public Employees Retirement Association of Colorado grew its stake in Modine Manufacturing by 4,215.8% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 260,547 shares of the auto parts company’s stock valued at $26,104,000 after buying an additional 254,510 shares in the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Company Profile

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.