Modine Manufacturing Company (NYSE:MOD) Short Interest Down 19.8% in February

Modine Manufacturing Company (NYSE:MOD) saw a significant decrease in short interest in the month of February. As of February 13th, there was short interest totaling 3,843,093 shares, a decrease of 19.8% from the January 29th total of 4,790,187 shares. Based on an average daily trading volume, of 1,967,838 shares, the days-to-cover ratio is presently 2.0 days. Currently, 7.5% of the company’s shares are short sold. Currently, 7.5% of the company’s shares are short sold. Based on an average daily trading volume, of 1,967,838 shares, the days-to-cover ratio is presently 2.0 days.

Wall Street Analysts Forecast Growth

MOD has been the topic of a number of recent research reports. Oppenheimer lifted their price target on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Weiss Ratings reaffirmed 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 report on Thursday, November 20th. They issued a “buy” rating and a $173.00 price target on the stock. Roth Mkm began coverage on Modine Manufacturing in a research report on Wednesday, February 18th. They set a “buy” rating and a $263.00 price objective for the company. Finally, DA Davidson lifted their price objective on Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $223.20.

Insider Transactions at Modine Manufacturing

In related news, Director Suresh V. Garimella sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total value of $202,477.00. Following the completion of the transaction, the director owned 79,856 shares in the company, valued at $14,699,093.92. This trade represents a 1.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Modine Manufacturing

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its position in shares of Modine Manufacturing by 13.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 84,616 shares of the auto parts company’s stock worth $12,512,000 after buying an additional 9,989 shares in the last quarter. Schear Investment Advisers LLC purchased a new stake in shares of Modine Manufacturing during the second quarter valued at approximately $1,547,000. Principal Financial Group Inc. lifted its holdings in Modine Manufacturing by 0.9% during the third quarter. Principal Financial Group Inc. now owns 749,845 shares of the auto parts company’s stock worth $106,598,000 after acquiring an additional 6,847 shares during the period. Y Intercept Hong Kong Ltd boosted its position in Modine Manufacturing by 390.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 16,861 shares of the auto parts company’s stock worth $2,397,000 after purchasing an additional 13,424 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in Modine Manufacturing by 12.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 48,189 shares of the auto parts company’s stock valued at $6,851,000 after purchasing an additional 5,319 shares during the period. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Trading Down 1.2%

Shares of MOD stock traded down $2.45 during trading hours on Wednesday, hitting $209.87. 1,219,931 shares of the company were exchanged, compared to its average volume of 1,303,305. The company has a 50 day simple moving average of $175.16 and a two-hundred day simple moving average of $157.11. The firm has a market cap of $11.07 billion, a P/E ratio of 116.60, a P/E/G ratio of 1.30 and a beta of 1.67. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19. Modine Manufacturing has a fifty-two week low of $64.79 and a fifty-two week high of $243.80.

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, topping the consensus estimate of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The business had revenue of $805.00 million for the quarter, compared to analyst estimates of $763.54 million. During the same period in the prior year, the firm earned $0.92 earnings per share. Modine Manufacturing’s revenue was up 30.5% on a year-over-year basis. Equities analysts anticipate that Modine Manufacturing will post 3.88 EPS for the current year.

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.