Modine Manufacturing (NYSE:MOD) Reaches New 1-Year High – Here’s What Happened

Modine Manufacturing Company (NYSE:MOD)’s stock price hit a new 52-week high on Thursday . The company traded as high as $289.82 and last traded at $289.5450, with a volume of 412898 shares changing hands. The stock had previously closed at $279.20.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Zacks Research cut shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Modine Manufacturing in a research report on Wednesday, May 6th. Roth Mkm assumed 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. Glj Research started coverage on shares of Modine Manufacturing in a research note on Monday, March 30th. They set a “buy” rating and a $290.00 target price for the company. Finally, Wall Street Zen cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, February 22nd. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Modine Manufacturing presently has an average rating of “Moderate Buy” and an average target price of $234.33.

Modine Manufacturing Stock Up 4.8%

The stock has a 50 day moving average price of $229.97 and a 200 day moving average price of $185.89. The company has a market cap of $15.43 billion, a P/E ratio of 162.46, a P/E/G ratio of 1.12 and a beta of 1.66. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19.

Institutional Investors Weigh In On Modine Manufacturing

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Modine Manufacturing by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,080,874 shares of the auto parts company’s stock valued at $722,297,000 after acquiring an additional 97,035 shares in the last quarter. Wellington Management Group LLP increased its stake in Modine Manufacturing by 4.7% in the 4th quarter. Wellington Management Group LLP now owns 2,879,299 shares of the auto parts company’s stock valued at $384,415,000 after buying an additional 130,511 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Modine Manufacturing by 31.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock worth $311,503,000 after buying an additional 560,131 shares in the last quarter. Wasatch Advisors LP boosted its stake in shares of Modine Manufacturing by 1.4% during the 2nd quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock valued at $176,553,000 after buying an additional 23,955 shares during the period. Finally, Capital Research Global Investors boosted its stake in shares of Modine Manufacturing by 13.8% during the 4th quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock valued at $197,358,000 after buying an additional 179,617 shares during the period. 95.23% of the stock is owned by hedge funds and other institutional investors.

About Modine Manufacturing

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.