Modine Manufacturing Co. (MOD) Trading Down 1.5%
Modine Manufacturing Co. (NYSE:MOD) dropped 1.5% during mid-day trading on Friday . The company traded as low as $9.20 and last traded at $9.24, with a volume of 94,750 shares traded. The stock had previously closed at $9.38.
Separately, Zacks Investment Research raised Modine Manufacturing from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Saturday, April 23rd.
The company’s market cap is $446.28 million. The stock has a 50 day moving average price of $9.51 and a 200 day moving average price of $9.41.
Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Wednesday, May 25th. The company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.04. The business had revenue of $343.70 million for the quarter, compared to the consensus estimate of $351.33 million. During the same quarter last year, the company earned $0.12 earnings per share. The firm’s revenue was down 5.3% on a year-over-year basis. On average, equities research analysts anticipate that Modine Manufacturing Co. will post $0.83 EPS for the current fiscal year.
Other large investors have added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake 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 worth $22,220,000 after buying an additional 61,188 shares during the period. Victory Capital Management Inc. raised 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 during the period. California Public Employees Retirement System raised 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 during the period. Finally, Nationwide Fund Advisors raised 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 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.