Modine Manufacturing Co. (MOD) Trading 3.6% Higher
Modine Manufacturing Co. (NYSE:MOD)’s share price traded up 3.6% during trading on Monday . The stock traded as high as $10.32 and last traded at $10.31, with a volume of 51,852 shares. The stock had previously closed at $9.95.
Separately, Zacks Investment Research cut Modine Manufacturing from a “hold” rating to a “sell” rating in a research report on Thursday, July 14th.
The company has a 50-day moving average of $9.42 and a 200-day moving average of $9.58. The firm has a market capitalization of $499.31 million and a price-to-earnings ratio of 267.95.
Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.03. The firm earned $347.20 million during the quarter, compared to analysts’ expectations of $337.10 million. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the business earned $0.14 earnings per share. On average, equities analysts predict that Modine Manufacturing Co. will post $0.84 EPS for the current year.
A hedge fund recently raised its stake in Modine Manufacturing stock. Nationwide Fund Advisors boosted its position in Modine Manufacturing Co. (NYSE:MOD) by 195.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 118,282 shares of the company’s stock after buying an additional 78,206 shares during the period. Nationwide Fund Advisors owned 0.25% of Modine Manufacturing worth $1,070,000 at the end of the most recent 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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