Modine Manufacturing (NYSE:MOD) Sets New 1-Year Low - What's Next?

Modine Manufacturing (NYSE:MOD - Get Free Report) hit a new 52-week low during trading on Wednesday . The stock traded as low as $72.49 and last traded at $78.06, with a volume of 1972300 shares trading hands. The stock had previously closed at $77.13.

Modine Manufacturing Stock Performance

The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.87. The firm's 50 day simple moving average is $106.78 and its 200 day simple moving average is $118.55. The firm has a market capitalization of $4.17 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 0.71 and a beta of 2.31.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.79 by $0.13. Modine Manufacturing had a net margin of 6.31% and a return on equity of 24.25%. Sell-side analysts forecast that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Modine Manufacturing

In other news, Director William A. Wulfsohn bought 2,530 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $79.43 per share, for a total transaction of $200,957.90. Following the completion of the purchase, the director now owns 7,277 shares of the company's stock, valued at approximately $578,012.11. This represents a 53.30 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Modine Manufacturing

Several hedge funds have recently added to or reduced their stakes in MOD. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Modine Manufacturing by 567.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company's stock valued at $27,000 after acquiring an additional 193 shares during the period. Principal Securities Inc. lifted its holdings in shares of Modine Manufacturing by 97.8% during the fourth quarter. Principal Securities Inc. now owns 544 shares of the auto parts company's stock worth $63,000 after purchasing an additional 269 shares during the period. Private Trust Co. NA lifted its holdings in shares of Modine Manufacturing by 650.5% during the third quarter. Private Trust Co. NA now owns 773 shares of the auto parts company's stock worth $103,000 after purchasing an additional 670 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Modine Manufacturing by 90.9% during the third quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company's stock worth $137,000 after purchasing an additional 491 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Modine Manufacturing by 6.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company's stock worth $157,000 after purchasing an additional 82 shares during the period. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

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.