Modine Manufacturing (NYSE:MOD) Stock Price Passes Above 200-Day Moving Average of $9.67

Posted by on Jun 21st, 2022

Shares of Modine Manufacturing (NYSE:MOD – Get Rating) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 started coverage on Modine Manufacturing in a research report on Thursday, March 31st. They set a “buy” rating for the company.

The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.96 and a current ratio of 1.53. The company has a market cap of $548.29 million, a P/E ratio of 6.51 and a beta of 2.38. The stock has a 50-day moving average of $9.40 and a two-hundred day moving average of $9.67.

Modine Manufacturing (NYSE:MOD – Get Rating) last posted its quarterly earnings data on Wednesday, May 25th. The auto parts company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the firm posted $0.51 earnings per share. Research analysts predict that Modine Manufacturing will post 1.65 EPS for the current year.

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

Institutional investors and hedge funds have recently modified their holdings of the business. Roubaix Capital LLC boosted its stake in Modine Manufacturing by 4.8% during the 4th quarter. Roubaix Capital LLC now owns 442,059 shares of the auto parts company’s stock valued at $4,460,000 after purchasing an additional 20,214 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Modine Manufacturing by 55.6% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 63,531 shares of the auto parts company’s stock worth $664,000 after buying an additional 22,696 shares during the last quarter. Strs Ohio boosted its stake in shares of Modine Manufacturing by 5.7% in the 4th quarter. Strs Ohio now owns 76,100 shares of the auto parts company’s stock worth $767,000 after buying an additional 4,100 shares during the last quarter. Comerica Bank boosted its stake in shares of Modine Manufacturing by 4.3% in the 3rd quarter. Comerica Bank now owns 226,532 shares of the auto parts company’s stock worth $2,641,000 after buying an additional 9,415 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in shares of Modine Manufacturing by 7.4% in the 4th quarter. Royce & Associates LP now owns 1,862,667 shares of the auto parts company’s stock worth $18,794,000 after buying an additional 127,671 shares during the last quarter. Institutional investors and hedge funds 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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