Modine Manufacturing (NYSE:MOD) Trading 5.8% Higher

Modine Manufacturing (NYSE:MOD)’s share price shot up 5.8% during trading on Monday . The stock traded as high as $99.80 and last traded at $99.53. 125,989 shares changed hands during trading, a decline of 87% from the average session volume of 948,551 shares. The stock had previously closed at $94.11.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Oppenheimer began coverage on shares of Modine Manufacturing in a research report on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 price objective on the stock. B. Riley reaffirmed a “buy” rating and set a $98.00 price objective (up previously from $88.00) on shares of Modine Manufacturing in a report on Tuesday, February 27th. StockNews.com lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, DA Davidson reiterated a “buy” rating and issued a $90.00 price target on shares of Modine Manufacturing in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.67.

Modine Manufacturing Trading Down 0.2 %

The firm’s 50-day simple moving average is $92.41 and its 200 day simple moving average is $70.79. The stock has a market capitalization of $5.47 billion, a P/E ratio of 24.69, a PEG ratio of 0.72 and a beta of 2.28. The company has a quick ratio of 1.21, a current ratio of 1.93 and a debt-to-equity ratio of 0.43.

Insider Transactions at Modine Manufacturing

In other news, CFO Michael B. Lucareli sold 82,312 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the transaction, the chief financial officer now owns 194,587 shares of the company’s stock, valued at approximately $17,577,043.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Christopher William Patterson sold 14,225 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $90.56, for a total transaction of $1,288,216.00. Following the completion of the transaction, the director now directly owns 97,517 shares in the company, valued at $8,831,139.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michael B. Lucareli sold 82,312 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the completion of the sale, the chief financial officer now owns 194,587 shares in the company, valued at approximately $17,577,043.71. The disclosure for this sale can be found here. Insiders have sold a total of 113,336 shares of company stock worth $10,330,115 in the last 90 days. 2.86% of the stock is owned by insiders.

Institutional Trading of Modine Manufacturing

A number of hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC raised its position in shares of Modine Manufacturing by 8.5% during the first quarter. ProShare Advisors LLC now owns 9,251 shares of the auto parts company’s stock valued at $881,000 after buying an additional 727 shares during the last quarter. US Bancorp DE grew its holdings in shares of Modine Manufacturing by 58.3% during the 1st quarter. US Bancorp DE now owns 5,538 shares of the auto parts company’s stock worth $527,000 after purchasing an additional 2,040 shares in the last quarter. Williams Jones Wealth Management LLC. bought a new stake in shares of Modine Manufacturing during the first quarter valued at approximately $286,000. Horizon Investment Services LLC boosted its position in shares of Modine Manufacturing by 4.4% during the 1st quarter. Horizon Investment Services LLC now owns 4,558 shares of the auto parts company’s stock valued at $434,000 after acquiring an additional 191 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in Modine Manufacturing by 43.7% during the first quarter. Oppenheimer & Co. Inc. now owns 4,915 shares of the auto parts company’s stock valued at $468,000 after purchasing an additional 1,495 shares in the last quarter. 95.23% of the stock is owned by institutional investors.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.