Modine Manufacturing (MOD) Cut to “Strong Sell” at ValuEngine

ValuEngine cut shares of Modine Manufacturing (NYSE:MOD) from a sell rating to a strong sell rating in a report issued on Wednesday, September 12th.

Separately, Zacks Investment Research upgraded shares of Modine Manufacturing from a sell rating to a hold rating in a research report on Tuesday, August 7th.

Shares of NYSE:MOD traded down $0.29 during mid-day trading on Wednesday, hitting $14.73. The stock had a trading volume of 521,715 shares, compared to its average volume of 301,581. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.85 and a current ratio of 1.23. The company has a market cap of $755.29 million, a PE ratio of 9.56 and a beta of 1.52. Modine Manufacturing has a 12-month low of $14.68 and a 12-month high of $25.75.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Wednesday, August 1st. The auto parts company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.05. The business had revenue of $566.10 million during the quarter, compared to the consensus estimate of $552.12 million. Modine Manufacturing had a net margin of 1.26% and a return on equity of 17.01%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 EPS. On average, equities analysts predict that Modine Manufacturing will post 1.59 earnings per share for the current year.

In other Modine Manufacturing news, Director Suresh V. Garimella sold 14,181 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $17.65, for a total value of $250,294.65. Following the transaction, the director now owns 40,135 shares in the company, valued at approximately $708,382.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.48% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in MOD. Wells Fargo & Company MN increased its stake in Modine Manufacturing by 200.6% in the 1st quarter. Wells Fargo & Company MN now owns 232,530 shares of the auto parts company’s stock valued at $4,919,000 after buying an additional 155,185 shares during the period. Comerica Bank increased its stake in Modine Manufacturing by 13.3% in the 1st quarter. Comerica Bank now owns 153,970 shares of the auto parts company’s stock valued at $3,133,000 after buying an additional 18,076 shares during the period. SG Americas Securities LLC acquired a new position in shares of Modine Manufacturing during the 1st quarter worth $136,000. Prudential Financial Inc. increased its stake in shares of Modine Manufacturing by 1,029.6% during the 1st quarter. Prudential Financial Inc. now owns 273,533 shares of the auto parts company’s stock worth $5,785,000 after purchasing an additional 249,317 shares during the last quarter. Finally, Swiss National Bank increased its stake in shares of Modine Manufacturing by 3.9% during the 1st quarter. Swiss National Bank now owns 87,300 shares of the auto parts company’s stock worth $1,846,000 after purchasing an additional 3,300 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

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 primarily in the United States. The company operates through Americas, Europe, Asia, Commercial and Industrial Solutions, and Building HVAC segments.

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