Modine Manufacturing (NYSE:MOD) Trading Down 4.8% – Should You Sell?

Modine Manufacturing (NYSE:MOD) shares fell 4.8% on Thursday . The company traded as low as $82.93 and last traded at $82.44. 219,082 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 881,968 shares. The stock had previously closed at $86.63.

Analysts Set New Price Targets

Separately, DA Davidson reaffirmed a “buy” rating and set a $155.00 price objective on shares of Modine Manufacturing in a report on Monday, March 17th.

Modine Manufacturing Stock Down 6.6 %

The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18. The firm’s 50-day moving average price is $96.12 and its 200 day moving average price is $115.67. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. Sell-side analysts expect that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing declared that its Board of Directors has authorized a share repurchase program on Friday, March 7th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the auto parts company to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Modine Manufacturing

In related news, Director William A. Wulfsohn bought 2,530 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $79.43 per share, with a total value of $200,957.90. Following the completion of the transaction, the director now owns 7,277 shares of the company’s stock, valued at approximately $578,012.11. The trade was a 53.30 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Modine Manufacturing

A number of large investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Modine Manufacturing by 2.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,832 shares of the auto parts company’s stock worth $1,024,000 after buying an additional 231 shares during the last quarter. Centaurus Financial Inc. purchased a new stake in Modine Manufacturing during the fourth quarter valued at about $148,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Modine Manufacturing during the fourth quarter worth about $12,674,000. Jefferies Financial Group Inc. purchased a new position in shares of Modine Manufacturing in the 4th quarter worth about $2,290,000. Finally, Invst LLC lifted its stake in shares of Modine Manufacturing by 4.1% in the 4th quarter. Invst LLC now owns 8,583 shares of the auto parts company’s stock valued at $995,000 after purchasing an additional 338 shares in the last quarter. Hedge funds and other 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.