Modine Manufacturing (NYSE:MOD - Get Free Report) reached a new 52-week low during trading on Thursday . The company traded as low as $72.18 and last traded at $72.69, with a volume of 1307621 shares. The stock had previously closed at $85.32.
Wall Street Analyst Weigh In
Separately, DA Davidson restated a "buy" rating and set a $155.00 price target on shares of Modine Manufacturing in a report on Monday, March 17th.
Check Out Our Latest Stock Analysis on Modine Manufacturing
Modine Manufacturing Stock Performance
The company has a market capitalization of $3.77 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 0.71 and a beta of 2.19. The company has a current ratio of 1.87, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. The business's fifty day moving average is $86.44 and its two-hundred day moving average is $113.13.
Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. Equities research analysts predict that Modine Manufacturing will post 3.88 earnings per share for the current year.
Modine Manufacturing announced that its Board of Directors has initiated a share repurchase plan on Friday, March 7th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its stock is undervalued.
Insider Transactions at Modine Manufacturing
In related news, Director William A. Wulfsohn bought 2,530 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $79.43 per share, for a total transaction of $200,957.90. Following the completion of the acquisition, the director now owns 7,277 shares of the company's stock, valued at $578,012.11. This trade represents a 53.30 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.40% of the company's stock.
Institutional Investors Weigh In On Modine Manufacturing
A number of hedge funds have recently added to or reduced their stakes in MOD. William Blair Investment Management LLC grew its holdings in shares of Modine Manufacturing by 7.7% in the fourth quarter. William Blair Investment Management LLC now owns 247,400 shares of the auto parts company's stock worth $28,681,000 after acquiring an additional 17,599 shares during the period. Entropy Technologies LP bought a new stake in shares of Modine Manufacturing during the 4th quarter valued at about $452,000. New York State Common Retirement Fund grew its stake in shares of Modine Manufacturing by 9.9% during the 4th quarter. New York State Common Retirement Fund now owns 247,975 shares of the auto parts company's stock valued at $28,748,000 after purchasing an additional 22,259 shares during the period. Legend Financial Advisors Inc. increased its position in shares of Modine Manufacturing by 2.9% during the 4th quarter. Legend Financial Advisors Inc. now owns 9,929 shares of the auto parts company's stock valued at $1,151,000 after purchasing an additional 279 shares during the last quarter. Finally, Peregrine Capital Management LLC lifted its stake in shares of Modine Manufacturing by 10.9% in the 4th quarter. Peregrine Capital Management LLC now owns 100,949 shares of the auto parts company's stock worth $11,703,000 after purchasing an additional 9,920 shares during the period. 95.23% of the stock is currently owned by hedge funds and other institutional investors.
About Modine Manufacturing
(
Get Free Report)
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.
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