Modine Manufacturing (NYSE:MOD) upgraded to TheStreet

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Modine Manufacturing (NYSE:MOD – Get Rating) was upgraded by TheStreet from a “c+” rating to a “b-” rating in a research rating released Thursday, reports TheStreetRatingsTable.

A number of other analysts have also released reports on the stock. DA Davidson raised his price target on Modine Manufacturing shares to $20.00 in a Monday, August 15 research report. StockNews.com downgraded shares of Modine Manufacturing from a “strong buy” rating to a “buy” rating in a research report on Friday.

Modine manufacturing inventory performance

MOD shares opened at $21.02 on Thursday. The company has a 50-day moving average of $15.07 and a two-hundred-day moving average of $12.69. The company has a debt ratio of 0.81, a current ratio of 1.57 and a quick ratio of 0.95. The stock has a market capitalization of $1.10 billion, a price-earnings ratio of 9.14, a PEG ratio of 0.40 and a beta of 2.28. Modine Manufacturing has a one-year low of $7.67 and a one-year high of $21.10.

Modine Manufacturing (NYSE:MOD – Get Rating) last released its quarterly results on Wednesday, August 3. The auto parts company reported earnings per share (EPS) of $0.32 for the quarter, beating analysts’ consensus estimate of $0.12 by $0.20. The company posted revenue of $541.00 million in the quarter, versus analyst estimates of $510.70 million. Modine Manufacturing achieved a net margin of 5.52% and a return on equity of 19.82%. On average, equity research analysts expect Modine Manufacturing to post 1.7 earnings per share for the current year.

Insider Activity at Modine Manufacturing

In related news, director Larry Oscar Moore sold 16,700 shares of the company in a trade that took place on Monday, September 12. The shares were sold at an average price of $15.67, for a total transaction of $261,689.00. Following the transaction, the administrator now owns 75,515 shares of the company, valued at $1,183,320.05. The sale was disclosed in a legal filing with the SEC, which is available via this hyperlink. Insiders hold 3.06% of the shares of the company.

Hedge funds weigh on Modine Manufacturing

Several hedge funds and other institutional investors have recently increased or reduced their stakes in the company. Teacher Retirement System of Texas bought a new position in Modine Manufacturing during the third quarter, valued at approximately $2,547,000. Counterpoint Mutual Funds LLC bought a new position in shares of Modine Manufacturing in the third quarter worth approximately $112,000. Los Angeles Capital Management LLC raised its position in Modine Manufacturing shares by 24.8% in the third quarter. Los Angeles Capital Management LLC now owns 120,345 shares of the auto parts company valued at $1,557,000 after purchasing an additional 23,890 shares during the period. Assetmark Inc. raised its position in shares of Modine Manufacturing by 75.8% in the third quarter. Assetmark Inc. now owns 2,268 shares of the auto parts company valued at $29,000 after purchasing an additional 978 shares during the period. Finally, Robeco Institutional Asset Management BV bought a new position in shares of Modine Manufacturing in the third quarter, valued at around $44,000. Institutional investors hold 89.37% of the company’s shares.

Company Profile Modine Manufacturing

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Modine Manufacturing Company provides heat transfer systems and heat transfer components designed for use in on-road and off-road original equipment manufacturer (OEM) vehicle applications. It operates through the Climate Solutions and Performance Technologies segments. The company offers gas, hydronic, electric and oil-fired unit heaters; indoor and outdoor ducted furnaces; infrared units; perimeter heating products, such as commercial finned tube heaters, unit heaters and convectors; direct and indirect heated make-up air units mounted on the roof; unit fans; vertical units individually packaged; precision air conditioning units for data center applications; air handling units; fan walls; coolers; ceiling cassettes; hybrid fan coil units; and condensers and condensing units.

Further reading

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