Modine Manufacturing (NYSE:MOD) Trading Down 4.5% – Should You Sell?

Modine Manufacturing Company (NYSE:MOD) fell 4.5% during trading on Wednesday . The company traded as low as $202.05 and last traded at $202.66. 592,555 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 1,571,549 shares. The stock had previously closed at $212.32.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MOD shares. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. UBS Group began coverage on Modine Manufacturing in a research note on Thursday, November 20th. They set a “buy” rating and a $173.00 price target for the company. Roth Mkm started coverage on shares of Modine Manufacturing in a research report on Wednesday, February 18th. They issued a “buy” rating and a $263.00 price objective on the stock. DA Davidson boosted their price objective on shares of Modine Manufacturing from $255.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Finally, Zacks Research upgraded shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $223.20.

Modine Manufacturing Price Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19. The stock’s fifty day moving average price is $173.71 and its 200-day moving average price is $156.74. The firm has a market cap of $10.99 billion, a PE ratio of 115.84, a P/E/G ratio of 1.46 and a beta of 1.67.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The company had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $763.54 million. During the same period last year, the company posted $0.92 earnings per share. The firm’s quarterly revenue was up 30.5% compared to the same quarter last year. As a group, equities analysts forecast that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total value of $202,477.00. Following the sale, the director owned 79,856 shares of the company’s stock, valued at approximately $14,699,093.92. This represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.48% of the company’s stock.

Hedge Funds Weigh In On Modine Manufacturing

Several hedge funds have recently added to or reduced their stakes in MOD. Kemnay Advisory Services Inc. purchased a new stake in shares of Modine Manufacturing in the fourth quarter valued at about $25,000. Spire Wealth Management acquired a new position in shares of Modine Manufacturing during the 4th quarter worth approximately $27,000. First Horizon Corp purchased a new stake in Modine Manufacturing in the 3rd quarter valued at approximately $38,000. Sunbelt Securities Inc. purchased a new stake in Modine Manufacturing in the 3rd quarter valued at approximately $39,000. Finally, Danske Bank A S purchased a new position in Modine Manufacturing during the third quarter worth $43,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Company Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.