Modine Manufacturing (MOD) Cut to “Sell” at ValuEngine

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Modine Manufacturing (NYSE:MOD) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Monday, July 2nd.

Separately, Zacks Investment Research downgraded Modine Manufacturing from a “hold” rating to a “sell” rating in a research report on Thursday, May 31st.

MOD traded down $0.30 during midday trading on Monday, reaching $16.95. The company’s stock had a trading volume of 219,800 shares, compared to its average volume of 323,270. The firm has a market capitalization of $868.66 million, a P/E ratio of 11.04 and a beta of 1.38. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. Modine Manufacturing has a twelve month low of $15.25 and a twelve month high of $25.75.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Wednesday, May 23rd. The auto parts company reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.04. The firm had revenue of $566.60 million for the quarter, compared to analyst estimates of $528.02 million. Modine Manufacturing had a return on equity of 16.97% and a net margin of 1.06%. The company’s revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 EPS. analysts anticipate that Modine Manufacturing will post 1.61 earnings per share for the current year.

In related news, Director Larry Oscar Moore sold 5,400 shares of the firm’s stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $17.80, for a total transaction of $96,120.00. Following the completion of the transaction, the director now owns 40,259 shares in the company, valued at approximately $716,610.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.48% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Advisor Group Inc. raised its position in Modine Manufacturing by 599.5% in the 4th quarter. Advisor Group Inc. now owns 6,750 shares of the auto parts company’s stock valued at $136,000 after purchasing an additional 5,785 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Modine Manufacturing in the 1st quarter valued at $136,000. First Mercantile Trust Co. increased its stake in shares of Modine Manufacturing by 91.4% in the 1st quarter. First Mercantile Trust Co. now owns 9,893 shares of the auto parts company’s stock valued at $209,000 after buying an additional 4,723 shares during the period. Xact Kapitalforvaltning AB acquired a new stake in shares of Modine Manufacturing in the 2nd quarter valued at $215,000. Finally, Jane Street Group LLC acquired a new stake in shares of Modine Manufacturing in the 1st quarter valued at $235,000. Hedge funds and other institutional investors own 86.42% of the company’s stock.

Modine Manufacturing Company Profile

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 primarily in the United States. The company operates through Americas, Europe, Asia, Commercial and Industrial Solutions, and Building HVAC segments.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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