Modine Manufacturing (NYSE:MOD) Posts Quarterly Earnings Results

Modine Manufacturing (NYSE:MOD – Get Rating) released its quarterly earnings data on Wednesday. The auto parts company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.48 by $0.19, Briefing.com reports. Modine Manufacturing had a net margin of 6.66% and a return on equity of 22.23%. The business had revenue of $618.10 million during the quarter, compared to the consensus estimate of $583.70 million. During the same quarter in the prior year, the firm earned $0.57 EPS. The business’s revenue was up 7.6% on a year-over-year basis.

Modine Manufacturing Stock Performance

Shares of NYSE:MOD opened at $24.42 on Friday. The firm has a market cap of $1.27 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 0.33 and a beta of 2.25. The firm’s 50 day simple moving average is $21.29 and its 200-day simple moving average is $21.82. Modine Manufacturing has a one year low of $9.94 and a one year high of $26.90. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.06 and a current ratio of 1.73.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. DA Davidson increased their price objective on shares of Modine Manufacturing from $28.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, February 21st. StockNews.com started coverage on shares of Modine Manufacturing in a report on Thursday, May 18th. They issued a “strong-buy” rating for the company. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $33.50.

Insider Transactions at Modine Manufacturing

In related news, VP Brian Jon Agen sold 3,248 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of $22.37, for a total transaction of $72,657.76. Following the transaction, the vice president now directly owns 110,329 shares of the company’s stock, valued at $2,468,059.73. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.06% of the company’s stock.

Hedge Funds Weigh In On Modine Manufacturing

Several institutional investors and hedge funds have recently bought and sold shares of MOD. PNC Financial Services Group Inc. grew its holdings in Modine Manufacturing by 966.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,472 shares of the auto parts company’s stock worth $29,000 after purchasing an additional 1,334 shares during the last quarter. Point72 Middle East FZE purchased a new position in Modine Manufacturing in the fourth quarter worth $31,000. Quantbot Technologies LP grew its holdings in Modine Manufacturing by 123.5% in the first quarter. Quantbot Technologies LP now owns 3,800 shares of the auto parts company’s stock worth $34,000 after purchasing an additional 2,100 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Modine Manufacturing by 161.3% in the first quarter. Tower Research Capital LLC TRC now owns 1,680 shares of the auto parts company’s stock worth $38,000 after purchasing an additional 1,037 shares during the last quarter. Finally, Ensign Peak Advisors Inc purchased a new position in Modine Manufacturing in the third quarter worth $42,000. 89.09% of the stock is owned by hedge funds and other institutional investors.

About Modine Manufacturing

(Get Rating)

Modine Manufacturing Co engages in provision of thermal management solutions. It operates through the following segments: Heavy-Duty Equipment(HDE), Automotive, Commercial and Industrial Solutions (CIS), and Building HVAC Systems (BHVAC). The HDE segment provides powertrain and engine cooling products, including, but not limited to, radiators, charge air coolers, condensers, oil coolers, EGR coolers, fuel coolers, electronics cooling packages, and battery thermal management systems to OEMs in the commercial vehicle, off-highway, and automotive and light vehicle markets in North America, South America, Europe, and Asia.