Modine Manufacturing (NYSE:MOD) Shares Down 2.4%

Modine Manufacturing (NYSE:MOD - Get Free Report)'s stock price dropped 2.4% on Tuesday . The stock traded as low as $94.80 and last traded at $94.84. 81,400 shares changed hands during trading, a decline of 92% from the average daily volume of 993,488 shares. The stock had previously closed at $97.13.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MOD. B. Riley reaffirmed 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. 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 target price for the company. StockNews.com lowered shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a research note on Wednesday, January 31st. Finally, DA Davidson reaffirmed a "buy" rating and issued a $90.00 price target on shares of Modine Manufacturing in a research note on Tuesday, February 27th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $97.67.

Modine Manufacturing Stock Performance

The company has a quick ratio of 1.21, a current ratio of 1.93 and a debt-to-equity ratio of 0.43. The stock has a market cap of $4.78 billion, a P/E ratio of 21.58, a price-to-earnings-growth ratio of 0.74 and a beta of 2.29. The firm's 50-day moving average is $85.71 and its two-hundred day moving average is $64.05.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The auto parts company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.57 by $0.17. The company had revenue of $561.40 million for the quarter, compared to analyst estimates of $594.84 million. Modine Manufacturing had a net margin of 9.31% and a return on equity of 25.28%. Modine Manufacturing's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.48 EPS. As a group, research analysts expect that Modine Manufacturing will post 3.27 EPS for the current year.

Insider Activity

In other news, CFO Michael B. Lucareli sold 82,312 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $90.33, for a total value of $7,435,242.96. Following the transaction, the chief financial officer now owns 194,587 shares of the company's stock, valued at $17,577,043.71. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Michael B. Lucareli sold 82,312 shares of the business's 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 completion of the transaction, the chief financial officer now owns 194,587 shares of the company's stock, valued at approximately $17,577,043.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian Jon Agen sold 16,799 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at approximately $9,794,396.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,336 shares of company stock valued at $10,330,115. Insiders own 2.86% of the company's stock.

Institutional Trading of Modine Manufacturing

Hedge funds have recently bought and sold shares of the stock. Legato Capital Management LLC raised its position in shares of Modine Manufacturing by 193.7% during the fourth quarter. Legato Capital Management LLC now owns 24,317 shares of the auto parts company's stock valued at $1,452,000 after buying an additional 16,037 shares during the last quarter. Vanguard Group Inc. lifted its position in Modine Manufacturing by 3.2% in the third quarter. Vanguard Group Inc. now owns 3,056,893 shares of the auto parts company's stock worth $139,853,000 after purchasing an additional 95,255 shares during the period. SG Capital Management LLC lifted its position in Modine Manufacturing by 1,457.9% in the third quarter. SG Capital Management LLC now owns 208,659 shares of the auto parts company's stock worth $9,546,000 after purchasing an additional 195,265 shares during the period. Reinhart Partners LLC. acquired a new stake in Modine Manufacturing during the fourth quarter worth $41,129,000. Finally, Dana Investment Advisors Inc. bought a new stake in Modine Manufacturing in the 3rd quarter valued at $1,268,000. 95.23% of the stock is owned by 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.