Modine Manufacturing (NYSE:MOD) Stock Price Up 7.8%

Modine Manufacturing Co. (NYSE:MOD)’s stock price rose 7.8% during mid-day trading on Friday . The stock traded as high as $11.43 and last traded at $11.07, approximately 746,546 shares traded hands during trading. An increase of 249% from the average daily volume of 214,116 shares. The stock had previously closed at $10.27.

MOD has been the subject of several recent research reports. TheStreet upgraded Modine Manufacturing from a “c+” rating to a “b-” rating in a report on Monday, July 1st. ValuEngine lowered Modine Manufacturing from a “sell” rating to a “strong sell” rating in a report on Thursday. Finally, Zacks Investment Research upgraded Modine Manufacturing from a “sell” rating to a “hold” rating in a report on Thursday.

The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $13.97. The stock has a market cap of $520.96 million, a price-to-earnings ratio of 7.05 and a beta of 1.94.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.05). Modine Manufacturing had a return on equity of 14.26% and a net margin of 3.25%. The firm had revenue of $529.00 million for the quarter, compared to analysts’ expectations of $544.88 million. During the same quarter in the prior year, the business posted $0.41 earnings per share. Modine Manufacturing’s revenue was down 6.5% on a year-over-year basis. On average, equities research analysts expect that Modine Manufacturing Co. will post 1.41 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the stock. Gabelli Funds LLC increased its position in Modine Manufacturing by 0.4% during the first quarter. Gabelli Funds LLC now owns 951,000 shares of the auto parts company’s stock worth $13,190,000 after buying an additional 4,000 shares during the last quarter. Penn Capital Management Co. Inc. increased its position in Modine Manufacturing by 105.9% during the first quarter. Penn Capital Management Co. Inc. now owns 732,340 shares of the auto parts company’s stock worth $10,158,000 after buying an additional 376,611 shares during the last quarter. Tygh Capital Management Inc. increased its position in Modine Manufacturing by 16.0% during the first quarter. Tygh Capital Management Inc. now owns 648,624 shares of the auto parts company’s stock worth $8,996,000 after buying an additional 89,345 shares during the last quarter. Norges Bank acquired a new position in Modine Manufacturing during the fourth quarter worth $6,561,000. Finally, Lazard Asset Management LLC increased its position in Modine Manufacturing by 13.7% during the first quarter. Lazard Asset Management LLC now owns 588,795 shares of the auto parts company’s stock worth $8,166,000 after buying an additional 71,170 shares during the last quarter. Institutional investors and hedge funds own 88.45% of the company’s stock.

About Modine Manufacturing (NYSE:MOD)

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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