Modine Manufacturing (NYSE:MOD) Stock Price Down 3.8% - Here's Why

Modine Manufacturing (NYSE:MOD - Get Free Report)'s stock price traded down 3.8% during mid-day trading on Friday . The company traded as low as $135.52 and last traded at $134.62. 225,739 shares were traded during trading, a decline of 69% from the average session volume of 730,980 shares. The stock had previously closed at $140.00.

Analysts Set New Price Targets

Separately, Oppenheimer upped their target price on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $146.67.

Modine Manufacturing Price Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.77 and a quick ratio of 1.09. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of 43.44, a PEG ratio of 1.10 and a beta of 2.34. The stock has a 50 day moving average price of $128.76 and a two-hundred day moving average price of $121.12.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.05. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The company had revenue of $658.00 million for the quarter, compared to analyst estimates of $646.86 million. During the same period in the prior year, the firm earned $0.89 earnings per share. The business's revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, analysts expect that Modine Manufacturing will post 3.83 EPS for the current year.

Hedge Funds Weigh In On Modine Manufacturing

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Calamos Advisors LLC raised its holdings in Modine Manufacturing by 16.6% in the fourth quarter. Calamos Advisors LLC now owns 29,695 shares of the auto parts company's stock valued at $3,443,000 after acquiring an additional 4,229 shares in the last quarter. Spire Wealth Management grew its stake in shares of Modine Manufacturing by 3.0% during the fourth quarter. Spire Wealth Management now owns 20,662 shares of the auto parts company's stock worth $2,395,000 after purchasing an additional 607 shares in the last quarter. EMC Capital Management increased its holdings in Modine Manufacturing by 591.0% in the fourth quarter. EMC Capital Management now owns 5,618 shares of the auto parts company's stock valued at $651,000 after buying an additional 4,805 shares during the last quarter. Bay Rivers Group raised its stake in Modine Manufacturing by 6.5% in the fourth quarter. Bay Rivers Group now owns 6,099 shares of the auto parts company's stock valued at $707,000 after buying an additional 372 shares in the last quarter. Finally, KBC Group NV lifted its holdings in Modine Manufacturing by 42.7% during the 4th quarter. KBC Group NV now owns 2,078 shares of the auto parts company's stock worth $241,000 after buying an additional 622 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company's stock.

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.