Modine Manufacturing Company (NYSE:MOD) Sees Large Decline in Short Interest

Modine Manufacturing Company (NYSE:MOD) was the target of a large drop in short interest during the month of February. As of February 13th, there was short interest totaling 3,843,093 shares, a drop of 19.8% from the January 29th total of 4,790,187 shares. Based on an average daily volume of 1,967,838 shares, the short-interest ratio is presently 2.0 days. Currently, 7.5% of the company’s stock are short sold. Currently, 7.5% of the company’s stock are short sold. Based on an average daily volume of 1,967,838 shares, the short-interest ratio is presently 2.0 days.

Modine Manufacturing Trading Down 11.2%

Shares of NYSE:MOD traded down $26.75 during trading on Tuesday, reaching $211.75. The company’s stock had a trading volume of 1,678,537 shares, compared to its average volume of 1,596,166. The firm’s 50 day simple moving average is $172.23 and its two-hundred day simple moving average is $156.23. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. Modine Manufacturing has a 12 month low of $64.79 and a 12 month high of $243.80. The stock has a market capitalization of $11.17 billion, a PE ratio of 117.64, a price-to-earnings-growth ratio of 1.39 and a beta of 1.66.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The firm had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $763.54 million. During the same quarter in the previous year, the business earned $0.92 EPS. The company’s quarterly revenue was up 30.5% on a year-over-year basis. On average, research analysts predict that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $184.07, for a total value of $202,477.00. Following the completion of the transaction, the director owned 79,856 shares of the company’s stock, valued at approximately $14,699,093.92. The trade was a 1.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.48% of the company’s stock.

Hedge Funds Weigh In On Modine Manufacturing

A number of large investors have recently made changes to their positions in the company. Aristides Capital LLC grew its stake in shares of Modine Manufacturing by 3.0% during the fourth quarter. Aristides Capital LLC now owns 6,803 shares of the auto parts company’s stock valued at $908,000 after buying an additional 201 shares during the last quarter. MidFirst Bank purchased a new position in Modine Manufacturing during the 4th quarter valued at $177,000. Invesco Ltd. grew its position in Modine Manufacturing by 120.4% in the 4th quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock valued at $176,037,000 after acquiring an additional 720,389 shares during the last quarter. Corient Private Wealth LLC increased its stake in Modine Manufacturing by 32.3% in the fourth quarter. Corient Private Wealth LLC now owns 10,050 shares of the auto parts company’s stock worth $1,352,000 after purchasing an additional 2,453 shares during the period. Finally, Delta Global Management LP purchased a new stake in shares of Modine Manufacturing during the fourth quarter valued at $1,239,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on MOD. Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, February 22nd. Oppenheimer upped their target price on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. UBS Group assumed coverage on shares of Modine Manufacturing in a report on Thursday, November 20th. They issued a “buy” rating and a $173.00 price target on the stock. Roth Mkm started coverage on shares of Modine Manufacturing in a report on Wednesday, February 18th. They set a “buy” rating and a $263.00 price objective for the company. Finally, DA Davidson raised their price objective on Modine Manufacturing from $255.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $223.20.

Modine Manufacturing Company Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.