ValuEngine Lowers Modine Manufacturing (MOD) to Strong Sell

ValuEngine downgraded shares of Modine Manufacturing (NYSE:MOD) from a sell rating to a strong sell rating in a report issued on Wednesday morning.

Separately, Zacks Investment Research raised Modine Manufacturing from a sell rating to a hold rating in a research report on Tuesday, August 7th.

Shares of MOD opened at $15.30 on Wednesday. Modine Manufacturing has a 52-week low of $15.15 and a 52-week high of $25.75. The company has a current ratio of 1.23, a quick ratio of 0.85 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $798.38 million, a price-to-earnings ratio of 10.10 and a beta of 1.54.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Wednesday, August 1st. The auto parts company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.05. Modine Manufacturing had a return on equity of 17.01% and a net margin of 1.26%. The company had revenue of $566.10 million for the quarter, compared to analyst estimates of $552.12 million. During the same period in the prior year, the firm earned $0.39 earnings per share. Modine Manufacturing’s revenue for the quarter was up 9.8% on a year-over-year basis. equities analysts predict that Modine Manufacturing will post 1.59 earnings per share for the current year.

In other news, Director Suresh V. Garimella sold 14,181 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $17.65, for a total transaction of $250,294.65. Following the transaction, the director now directly owns 40,135 shares of the company’s stock, valued at $708,382.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.48% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of MOD. BlackRock Inc. raised its position in Modine Manufacturing by 11.1% in the 1st quarter. BlackRock Inc. now owns 4,182,069 shares of the auto parts company’s stock valued at $88,452,000 after buying an additional 418,061 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Modine Manufacturing by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,143,892 shares of the auto parts company’s stock valued at $75,626,000 after buying an additional 67,641 shares during the last quarter. United Services Automobile Association raised its position in Modine Manufacturing by 2,224.3% in the 2nd quarter. United Services Automobile Association now owns 2,444,646 shares of the auto parts company’s stock valued at $135,531,000 after buying an additional 2,339,469 shares during the last quarter. LSV Asset Management raised its position in Modine Manufacturing by 4.4% in the 2nd quarter. LSV Asset Management now owns 1,632,439 shares of the auto parts company’s stock valued at $29,792,000 after buying an additional 68,262 shares during the last quarter. Finally, Royce & Associates LP raised its position in Modine Manufacturing by 11.1% in the 2nd quarter. Royce & Associates LP now owns 1,223,155 shares of the auto parts company’s stock valued at $22,323,000 after buying an additional 122,400 shares during the last quarter. 92.05% of the stock is currently owned by institutional investors.

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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