Modine Manufacturing (NYSE:MOD) Stock Price Crosses Above Two Hundred Day Moving Average of $9.67

Posted by on Jun 21st, 2022

Modine Manufacturing (NYSE:MOD – Get Rating) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.67 and traded as high as $10.68. Modine Manufacturing shares last traded at $10.55, with a volume of 6,537 shares trading hands.

Separately, StockNews.com assumed coverage on Modine Manufacturing in a research note on Thursday, March 31st. They set a “buy” rating on the stock.

The firm has a 50 day simple moving average of $9.40 and a 200 day simple moving average of $9.67. The company has a current ratio of 1.53, a quick ratio of 0.96 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $548.29 million, a PE ratio of 6.51 and a beta of 2.38.

Modine Manufacturing (NYSE:MOD – Get Rating) last issued its earnings results on Wednesday, May 25th. The auto parts company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.50 by $0.07. Modine Manufacturing had a return on equity of 15.93% and a net margin of 4.16%. During the same quarter in the prior year, the business posted $0.51 EPS. Research analysts forecast that Modine Manufacturing will post 1.65 earnings per share for the current year.

In other news, CFO Michael B. Lucareli sold 3,783 shares of the firm’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $11.94, for a total value of $45,169.02. Following the transaction, the chief financial officer now directly owns 274,572 shares in the company, valued at approximately $3,278,389.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 4.81% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in MOD. Quantbot Technologies LP raised its holdings in Modine Manufacturing by 123.5% in the 1st quarter. Quantbot Technologies LP now owns 3,800 shares of the auto parts company’s stock worth $34,000 after purchasing an additional 2,100 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Modine Manufacturing by 132.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,394 shares of the auto parts company’s stock worth $40,000 after purchasing an additional 2,500 shares during the period. Gladius Capital Management LP bought a new position in Modine Manufacturing in the 1st quarter worth $82,000. LPL Financial LLC bought a new stake in shares of Modine Manufacturing in the third quarter worth about $113,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Modine Manufacturing in the fourth quarter worth about $101,000. Hedge funds and other institutional investors own 94.42% of the company’s stock.

About Modine Manufacturing (NYSE:MOD)

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.

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