Modine Manufacturing (MOD) Raised to “Sell” at ValuEngine

ValuEngine upgraded shares of Modine Manufacturing (NYSE:MOD) from a strong sell rating to a sell rating in a research report released on Saturday, April 13th, ValuEngine reports.

Separately, Zacks Investment Research upgraded shares of Modine Manufacturing from a sell rating to a hold rating in a research report on Tuesday, December 18th.

MOD traded up $0.47 during midday trading on Friday, reaching $15.24. The company’s stock had a trading volume of 188,145 shares, compared to its average volume of 121,183. The stock has a market cap of $771.57 million, a PE ratio of 9.90 and a beta of 1.97. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.85 and a current ratio of 1.30. Modine Manufacturing has a 1 year low of $9.75 and a 1 year high of $20.30.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Thursday, January 31st. The auto parts company reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.08. Modine Manufacturing had a net margin of 4.32% and a return on equity of 16.34%. The business had revenue of $541.00 million for the quarter, compared to analysts’ expectations of $532.74 million. Equities research analysts predict that Modine Manufacturing will post 1.56 EPS for the current year.

In other Modine Manufacturing news, Director Larry Oscar Moore sold 6,600 shares of the stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $15.10, for a total value of $99,660.00. Following the transaction, the director now directly owns 40,761 shares in the company, valued at $615,491.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Matthew J. Mcburney sold 4,988 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $14.74, for a total transaction of $73,523.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,922 shares of company stock worth $715,560. 4.48% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. TIAA CREF Investment Management LLC raised its position in shares of Modine Manufacturing by 54.4% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 748,240 shares of the auto parts company’s stock valued at $11,149,000 after purchasing an additional 263,746 shares during the period. Eqis Capital Management Inc. bought a new stake in shares of Modine Manufacturing during the 4th quarter valued at $124,000. Cubic Asset Management LLC raised its position in shares of Modine Manufacturing by 7.2% during the 4th quarter. Cubic Asset Management LLC now owns 23,850 shares of the auto parts company’s stock valued at $258,000 after purchasing an additional 1,600 shares during the period. Vanguard Group Inc raised its position in shares of Modine Manufacturing by 2.4% during the 3rd quarter. Vanguard Group Inc now owns 4,328,334 shares of the auto parts company’s stock valued at $64,492,000 after purchasing an additional 103,083 shares during the period. Finally, Gabelli Funds LLC raised its position in shares of Modine Manufacturing by 2.2% during the 4th quarter. Gabelli Funds LLC now owns 947,000 shares of the auto parts company’s stock valued at $10,237,000 after purchasing an additional 20,000 shares during the period. Hedge funds and other institutional investors own 89.44% of the company’s stock.

About Modine Manufacturing

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications primarily in the United States. The company operates through Americas, Europe, Asia, Commercial and Industrial Solutions, and Building HVAC segments.

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