Modine Manufacturing Co. (MOD) Trading 4.7% Higher
Modine Manufacturing Co. (NYSE:MOD)’s share price traded up 4.7% on Tuesday . The stock traded as high as $9.91 and last traded at $9.81, with a volume of 74,994 shares. The stock had previously closed at $9.37.
Separately, Zacks Investment Research upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Saturday, April 23rd.
The company’s market cap is $461.45 million. The company’s 50-day moving average is $9.49 and its 200-day moving average is $9.45.
Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Wednesday, May 25th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.04. During the same quarter in the prior year, the firm earned $0.12 earnings per share. The firm had revenue of $343.70 million for the quarter, compared to the consensus estimate of $351.33 million. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, equities analysts predict that Modine Manufacturing Co. will post $0.83 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its stake 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 worth $43,959,000 after buying an additional 325,332 shares in the last quarter. California Public Employees Retirement System increased its stake 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 worth $1,967,000 after buying an additional 9,000 shares in the last quarter. Finally, Nationwide Fund Advisors increased its stake in Modine Manufacturing by 195.1% in the fourth quarter. Nationwide Fund Advisors now owns 118,282 shares of the company’s stock worth $1,070,000 after buying an additional 78,206 shares in the last quarter.
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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