Modine Manufacturing Co. (MOD) Shares Down 1.8%
Modine Manufacturing Co. (NYSE:MOD)’s share price fell 1.8% during mid-day trading on Friday . The stock traded as low as $9.51 and last traded at $9.58, with a volume of 60,425 shares trading hands. The stock had previously closed at $9.76.
Several research firms have issued reports on MOD. Zacks Investment Research upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Saturday, April 23rd. Seaport Global Securities upgraded shares of Modine Manufacturing from a “neutral” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Thursday, March 24th.
The firm has a 50-day moving average of $9.61 and a 200 day moving average of $9.40. The firm’s market cap is $455.76 million.
Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Wednesday, May 25th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.32 by $0.04. The firm had revenue of $343.70 million for the quarter, compared to analysts’ expectations of $351.33 million. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.12 EPS. On average, equities analysts expect that Modine Manufacturing Co. will post $0.86 earnings per share for the current fiscal year.
A number of institutional investors recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in Modine Manufacturing by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,455,263 shares of the company’s stock valued at $22,220,000 after buying an additional 61,188 shares during the period. Nationwide Fund Advisors raised its position in Modine Manufacturing by 195.1% in the fourth quarter. Nationwide Fund Advisors now owns 118,282 shares of the company’s stock valued at $1,070,000 after buying an additional 78,206 shares during the period. Victory Capital Management Inc. raised its position in Modine Manufacturing by 7.2% in the fourth quarter. Victory Capital Management Inc. now owns 4,857,345 shares of the company’s stock valued at $43,959,000 after buying an additional 325,332 shares during the period. Finally, California Public Employees Retirement System raised its position in Modine Manufacturing by 4.3% in the fourth quarter. California Public Employees Retirement System now owns 217,400 shares of the company’s stock valued at $1,967,000 after buying an additional 9,000 shares during the period.
Modine Manufacturing Company is a developer, manufacturer and marketer of heat exchangers and systems for use in on-highway and off-highway original equipment manufacturer (OEM) vehicular applications and to a range of building, industrial and refrigeration markets. The Company specializes in thermal management systems and components.
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