Modine Manufacturing Company (MOD) Downgraded by BidaskClub to Hold

BidaskClub cut shares of Modine Manufacturing Company (NYSE:MOD) from a buy rating to a hold rating in a research report report published on Monday.

A number of other analysts have also weighed in on the stock. Zacks Investment Research raised shares of Modine Manufacturing from a sell rating to a hold rating in a research report on Wednesday, April 12th. ValuEngine lowered shares of Modine Manufacturing from a buy rating to a hold rating in a research report on Friday, May 26th.

Shares of Modine Manufacturing (MOD) opened at 16.15 on Monday. The company has a 50 day moving average price of $16.61 and a 200 day moving average price of $13.39. Modine Manufacturing has a 1-year low of $9.20 and a 1-year high of $17.38. The company has a market capitalization of $808.78 million, a PE ratio of 55.31 and a beta of 1.20.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Wednesday, May 24th. The auto parts company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. Modine Manufacturing had a net margin of 0.94% and a return on equity of 9.27%. The company had revenue of $488.30 million for the quarter, compared to analyst estimates of $468.37 million. During the same period in the prior year, the company posted $0.36 EPS. The firm’s revenue for the quarter was up 42.1% on a year-over-year basis. Equities analysts predict that Modine Manufacturing will post $1.27 EPS for the current fiscal year.

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In other news, VP Scott D. Wollenberg sold 5,736 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $15.95, for a total transaction of $91,489.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 4.42% of the company’s stock.

Several institutional investors have recently modified their holdings of MOD. Royce & Associates LP purchased a new position in shares of Modine Manufacturing during the first quarter worth about $10,612,000. Thrivent Financial For Lutherans purchased a new position in shares of Modine Manufacturing during the first quarter worth about $7,489,000. Opus Capital Group LLC purchased a new position in shares of Modine Manufacturing during the first quarter worth about $6,444,000. Ionic Capital Management LLC purchased a new position in shares of Modine Manufacturing during the first quarter worth about $6,214,000. Finally, Tricadia Capital Management LLC purchased a new position in shares of Modine Manufacturing during the first quarter worth about $4,941,000. 83.50% of the stock is currently owned by institutional investors and hedge funds.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on-highway and off-highway original equipment manufacturer (OEM) vehicular applications, and for sale into an array of building, industrial and refrigeration markets. The Company’s products include radiators and radiator cores, exhaust gas recirculation coolers, building heating, ventilating and air conditioning (HVAC) equipment, and coils.

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