Modine Manufacturing (NYSE:MOD) Trading Down 5.5% – Should You Sell?

Modine Manufacturing Company (NYSE:MOD)’s stock price fell 5.5% during mid-day trading on Wednesday . The stock traded as low as $150.20 and last traded at $151.6470. 155,350 shares traded hands during trading, a decline of 86% from the average session volume of 1,114,020 shares. The stock had previously closed at $160.45.

Wall Street Analysts Forecast Growth

MOD has been the subject of a number of analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday. Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. KeyCorp increased their price objective on Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. UBS Group began coverage on Modine Manufacturing in a research report on Thursday, November 20th. They set a “buy” rating and a $173.00 target price for the company. Finally, DA Davidson restated a “buy” rating and issued a $200.00 price objective on shares of Modine Manufacturing in a research note on Wednesday, November 19th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $182.00.

Modine Manufacturing Stock Up 0.8%

The company has a current ratio of 2.00, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50. The business’s fifty day moving average price is $150.92 and its 200 day moving average price is $128.19. The company has a market capitalization of $8.49 billion, a P/E ratio of 46.64, a P/E/G ratio of 1.00 and a beta of 1.69.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, October 28th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.09. The firm had revenue of $738.90 million during the quarter, compared to analyst estimates of $699.91 million. Modine Manufacturing had a net margin of 6.93% and a return on equity of 23.19%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.97 earnings per share. As a group, equities research analysts predict that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Insider Activity

In other Modine Manufacturing news, CEO Neil David Brinker sold 31,871 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total value of $5,117,207.76. Following the transaction, the chief executive officer owned 238,312 shares of the company’s stock, valued at approximately $38,263,374.72. This represents a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.48% of the company’s stock.

Institutional Trading of Modine Manufacturing

A number of hedge funds have recently modified their holdings of MOD. First Horizon Corp acquired a new position in Modine Manufacturing during the third quarter valued at approximately $38,000. Sunbelt Securities Inc. bought a new stake in shares of Modine Manufacturing in the 3rd quarter valued at $39,000. Parkside Financial Bank & Trust lifted its holdings in Modine Manufacturing by 2,025.0% during the second quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock worth $42,000 after acquiring an additional 405 shares in the last quarter. Danske Bank A S acquired a new position in Modine Manufacturing in the third quarter valued at about $43,000. Finally, Maseco LLP bought a new stake in shares of Modine Manufacturing in the second quarter worth about $51,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.