Modine Manufacturing (NYSE:MOD) Shares Gap Up - Here's What Happened

Shares of Modine Manufacturing (NYSE:MOD - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $79.40, but opened at $81.79. Modine Manufacturing shares last traded at $80.98, with a volume of 313,177 shares changing hands.

Modine Manufacturing Stock Up 1.2 %

The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $4.10 billion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 0.71 and a beta of 2.31. The business's 50 day simple moving average is $107.56 and its 200 day simple moving average is $118.83.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.13. Modine Manufacturing had a net margin of 6.31% and a return on equity of 24.25%. As a group, analysts forecast that Modine Manufacturing will post 3.88 EPS for the current year.

Institutional Trading of Modine Manufacturing

A number of hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC increased its holdings in shares of Modine Manufacturing by 90.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company's stock valued at $137,000 after purchasing an additional 491 shares during the period. Entropy Technologies LP acquired a new position in shares of Modine Manufacturing in the 4th quarter valued at about $452,000. New York State Common Retirement Fund increased its holdings in shares of Modine Manufacturing by 9.9% in 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 holdings in shares of Modine Manufacturing by 2.9% in 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 period. Finally, Peregrine Capital Management LLC increased its holdings 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 valued at $11,703,000 after purchasing an additional 9,920 shares during the period. 95.23% of the stock is owned by hedge funds and other institutional investors.

About Modine Manufacturing

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.