Modine Manufacturing Co. (MOD) Sees Large Volume Increase
Modine Manufacturing Co. (NYSE:MOD) shares saw an uptick in trading volume on Friday . 287,933 shares traded hands during mid-day trading, an increase of 136% from the previous session’s volume of 122,031 shares.The stock last traded at $9.95 and had previously closed at $9.64.
Separately, Zacks Investment Research raised shares of Modine Manufacturing from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Saturday, April 23rd.
The company’s 50 day moving average price is $9.42 and its 200-day moving average price is $9.58. The stock has a market capitalization of $469.64 million and a P/E ratio of 255.13.
Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.03. The company had revenue of $347.20 million for the quarter, compared to the consensus estimate of $337.10 million. The firm’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.14 earnings per share. On average, equities research analysts predict that Modine Manufacturing Co. will post $0.84 EPS for the current fiscal year.
Several hedge funds and institutional investors recently modified their holdings of the stock. Nationwide Fund Advisors boosted its position in shares of 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 during the last quarter. Victory Capital Management Inc. boosted its position in shares of 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 during the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of 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 during 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.