Modine Manufacturing (NYSE:MOD) Trading Down 5.3% - Here's What Happened

Shares of Modine Manufacturing (NYSE:MOD - Get Free Report) traded down 5.3% during trading on Friday . The company traded as low as $111.55 and last traded at $111.57. 468,561 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 856,121 shares. The stock had previously closed at $117.77.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MOD shares. DA Davidson increased their price target on Modine Manufacturing from $140.00 to $155.00 and gave the stock a "buy" rating in a research report on Tuesday, September 24th. William Blair assumed coverage on Modine Manufacturing in a research report on Monday, July 29th. They issued an "outperform" rating on the stock. B. Riley boosted their price target on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Finally, Oppenheimer increased their price objective on shares of Modine Manufacturing from $144.00 to $145.00 and gave the stock an "outperform" rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $146.67.

Modine Manufacturing Stock Down 5.2 %

The company has a market cap of $5.85 billion, a price-to-earnings ratio of 36.59, a price-to-earnings-growth ratio of 0.92 and a beta of 2.22. The stock has a 50-day simple moving average of $122.85 and a 200-day simple moving average of $108.54. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its earnings results on Tuesday, October 29th. The auto parts company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. The firm had revenue of $658.00 million for the quarter, compared to analysts' expectations of $646.86 million. Modine Manufacturing had a net margin of 6.59% and a return on equity of 24.79%. Modine Manufacturing's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company earned $0.89 EPS. As a group, analysts predict that Modine Manufacturing will post 3.86 EPS for the current year.

Insiders Place Their Bets

In other news, Director Marsha C. Williams sold 34,400 shares of the business's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $109.74, for a total value of $3,775,056.00. Following the sale, the director now owns 144,038 shares of the company's stock, valued at approximately $15,806,730.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.40% of the stock is currently owned by insiders.

Institutional Trading of Modine Manufacturing

A number of hedge funds and other institutional investors have recently made changes to their positions in MOD. Vanguard Group Inc. boosted its position in shares of Modine Manufacturing by 27.3% in the 1st quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company's stock valued at $372,099,000 after purchasing an additional 838,460 shares during the period. Capital International Investors increased its position in shares of Modine Manufacturing by 40.6% in the first quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company's stock worth $135,726,000 after acquiring an additional 411,946 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in shares of Modine Manufacturing by 32.8% during the second quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company's stock valued at $110,403,000 after acquiring an additional 272,174 shares during the period. Emerald Advisers LLC acquired a new stake in shares of Modine Manufacturing during the second quarter valued at approximately $26,064,000. Finally, Public Employees Retirement Association of Colorado lifted its position in shares of Modine Manufacturing by 4,215.8% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 260,547 shares of the auto parts company's stock valued at $26,104,000 after acquiring an additional 254,510 shares in the last quarter. 95.23% of the stock is currently owned by 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.