Modine Manufacturing (NYSE:MOD) Stock Price Up 5.8%

Shares of Modine Manufacturing (NYSE:MOD) traded up 5.8% on Monday . The stock traded as high as $99.80 and last traded at $99.53. 125,989 shares traded hands during trading, a decline of 87% from the average session volume of 948,551 shares. The stock had previously closed at $94.11.

Analysts Set New Price Targets

Several research firms recently issued reports on MOD. StockNews.com downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Oppenheimer assumed coverage on shares of Modine Manufacturing in a research report on Tuesday, March 19th. They set an “outperform” rating and a $105.00 price target on the stock. B. Riley reiterated a “buy” rating and issued a $98.00 price objective (up from $88.00) on shares of Modine Manufacturing in a research report on Tuesday, February 27th. Finally, DA Davidson restated a “buy” rating and issued a $90.00 target price on shares of Modine Manufacturing in a research report on Tuesday, February 27th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Modine Manufacturing has a consensus rating of “Moderate Buy” and a consensus target price of $97.67.

Modine Manufacturing Stock Performance

The company has a current ratio of 1.93, a quick ratio of 1.21 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 0.72 and a beta of 2.28. The firm’s fifty day moving average price is $91.52 and its 200 day moving average price is $69.69.

Insiders Place Their Bets

In other news, VP Brian Jon Agen sold 16,799 shares of Modine Manufacturing stock in a transaction on Thursday, March 28th. The stock was 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 legal filing with the Securities & Exchange Commission, which is available at this link. In other Modine Manufacturing news, Director Christopher William Patterson sold 14,225 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $90.56, for a total transaction of $1,288,216.00. Following the sale, the director now directly owns 97,517 shares in the company, valued at approximately $8,831,139.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Brian Jon Agen sold 16,799 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $95.64, for a total transaction of $1,606,656.36. Following the completion of the transaction, the vice president now owns 102,409 shares of the company’s stock, valued at approximately $9,794,396.76. The disclosure for this sale can be found here. Insiders have sold 113,336 shares of company stock worth $10,330,115 over the last ninety days. Corporate insiders own 2.86% of the company’s stock.

Institutional Trading of Modine Manufacturing

Several hedge funds have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. boosted its stake in shares of Modine Manufacturing by 39.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 7,212 shares of the auto parts company’s stock valued at $330,000 after buying an additional 2,038 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in Modine Manufacturing during the 3rd quarter worth approximately $259,000. Stratos Wealth Partners LTD. acquired a new position in Modine Manufacturing during the 3rd quarter worth approximately $825,000. Bank of New York Mellon Corp increased its position in shares of Modine Manufacturing by 1.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 225,056 shares of the auto parts company’s stock valued at $10,296,000 after purchasing an additional 2,827 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Modine Manufacturing by 15.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,721 shares of the auto parts company’s stock valued at $536,000 after purchasing an additional 1,557 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

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.