Modine Manufacturing (NYSE:MOD) Reaches New 1-Year High at $106.39

Modine Manufacturing (NYSE:MOD - Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $106.39 and last traded at $106.16, with a volume of 445516 shares changing hands. The stock had previously closed at $100.82.

Wall Street Analysts Forecast Growth

MOD has been the subject of a number of analyst reports. StockNews.com downgraded shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a research note on Wednesday, January 31st. Oppenheimer initiated coverage on shares of Modine Manufacturing in a research note on Tuesday, March 19th. They set an "outperform" rating and a $105.00 target price for the company. B. Riley reiterated a "buy" rating and set a $98.00 target price (up previously from $88.00) on shares of Modine Manufacturing in a research note on Tuesday, February 27th. Finally, DA Davidson reiterated a "buy" rating and set a $90.00 target price on shares of Modine Manufacturing in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $97.67.

Modine Manufacturing Stock Up 4.0 %

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.93 and a quick ratio of 1.21. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 23.80, a P/E/G ratio of 0.72 and a beta of 2.28. The firm's 50 day simple moving average is $91.81 and its 200-day simple moving average is $70.10.

Insider Buying and Selling at Modine Manufacturing

In other news, VP Brian Jon Agen sold 16,799 shares of the company's stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $95.64, for a total value of $1,606,656.36. Following the completion of the sale, the vice president now directly owns 102,409 shares of the company's stock, valued at $9,794,396.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Brian Jon Agen sold 16,799 shares of the company's stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $95.64, for a total value of $1,606,656.36. Following the completion of the sale, the vice president now directly owns 102,409 shares of the company's stock, valued at $9,794,396.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael B. Lucareli sold 82,312 shares of the company's stock in a transaction dated Thursday, February 29th. The shares were 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 directly owns 194,587 shares of the company's stock, valued at $17,577,043.71. The disclosure for this sale can be found here. Insiders sold 113,336 shares of company stock worth $10,330,115 over the last 90 days. Corporate insiders own 2.86% of the company's stock.

Institutional Investors Weigh In On Modine Manufacturing

A number of institutional investors and hedge funds have recently made changes to their positions in MOD. Vanguard Group Inc. raised its holdings in Modine Manufacturing by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 3,070,556 shares of the auto parts company's stock worth $183,312,000 after purchasing an additional 13,663 shares in the last quarter. Capital International Investors raised its holdings in Modine Manufacturing by 35.1% during the fourth quarter. Capital International Investors now owns 1,013,899 shares of the auto parts company's stock worth $60,530,000 after purchasing an additional 263,614 shares in the last quarter. Hennessy Advisors Inc. raised its holdings in Modine Manufacturing by 20.4% during the first quarter. Hennessy Advisors Inc. now owns 714,400 shares of the auto parts company's stock worth $68,004,000 after purchasing an additional 121,200 shares in the last quarter. American Century Companies Inc. raised its holdings in Modine Manufacturing by 570.1% during the third quarter. American Century Companies Inc. now owns 700,758 shares of the auto parts company's stock worth $32,060,000 after purchasing an additional 596,177 shares in the last quarter. Finally, Reinhart Partners LLC. acquired a new position in Modine Manufacturing during the fourth quarter worth about $41,129,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

About Modine Manufacturing

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.

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