Modine Manufacturing (NYSE:MOD) Trading Down 8.2% - Should You Sell?
Modine Manufacturing (NYSE:MOD) stock fell 8.2% during mid-day trading, with a significant drop in trading volume. Despite the decline, analysts have mixed ratings, with some maintaining 'buy' ratings and others 'hold'. The company recently reported strong quarterly earnings, beating estimates. CEO Neil David Brinker sold a portion of his shares. Institutional investors have been active in buying and selling the stock. Modine Manufacturing provides thermal management products globally.
Modine Manufacturing Company (NYSE:MOD - Get Free Report)'s stock price traded down 8.2% during mid-day trading on Friday . The company traded as low as $151.28 and last traded at $151.6350. 225,947 shares traded hands during trading, a decline of 80% from the average session volume of 1,117,057 shares. The stock had previously closed at $165.19.
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Analyst Ratings Changes
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MOD has been the subject of a number of recent research reports. UBS Group initiated coverage on Modine Manufacturing in a research note on Thursday, November 20th. They issued a "buy" rating and a $173.00 target price for the company. DA Davidson reissued a "buy" rating and set a $200.00 price objective on shares of Modine Manufacturing in a research note on Wednesday, November 19th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Modine Manufacturing in a research note on Monday. Oppenheimer increased their price target on shares of Modine Manufacturing from $145.00 to $180.00 and gave the company an "outperform" rating in a research report on Tuesday, October 14th. Finally, Zacks Research cut shares of Modine Manufacturing from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 29th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $182.00.
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Modine Manufacturing Trading Down 11.5%
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The company has a current ratio of 2.00, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50. The company has a market cap of $7.69 billion, a PE ratio of 42.45, a PEG ratio of 1.04 and a beta of 1.69. The stock has a 50 day moving average price of $152.51 and a 200 day moving average price of $130.38.
Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its earnings results on Tuesday, October 28th. The auto parts company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.09. The firm had revenue of $738.90 million for the quarter, compared to analysts' expectations of $699.91 million. Modine Manufacturing had a net margin of 6.93% and a return on equity of 23.19%. The company's quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.97 EPS. Sell-side analysts predict that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.
Insider Buying and Selling at Modine Manufacturing
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In other Modine Manufacturing news, CEO Neil David Brinker sold 31,871 shares of Modine Manufacturing stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the completion of the transaction, the chief executive officer owned 238,312 shares in the company, valued at approximately $38,263,374.72. The trade was a 11.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.48% of the stock is owned by insiders.
Institutional Trading of Modine Manufacturing
Institutional investors have recently bought and sold shares of the company. First Horizon Corp purchased a new position in Modine Manufacturing in the third quarter worth about $38,000. Sunbelt Securities Inc. purchased a new position in Modine Manufacturing in the 3rd quarter worth approximately $39,000. Danske Bank A S bought a new position in Modine Manufacturing in the 3rd quarter valued at approximately $43,000. Toth Financial Advisory Corp purchased a new stake in Modine Manufacturing during the 3rd quarter valued at $57,000. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Modine Manufacturing by 2,025.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company's stock worth $42,000 after purchasing an additional 405 shares in the last quarter. 95.23% of the stock is 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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