Separately, Zacks Investment Research upgraded shares of Modine Manufacturing from a hold rating to a buy rating and set a $17.00 price objective on the stock in a research report on Tuesday, February 5th.
Shares of MOD opened at $15.90 on Friday. Modine Manufacturing has a fifty-two week low of $9.75 and a fifty-two week high of $21.15. The firm has a market capitalization of $807.55 million, a P/E ratio of 10.32 and a beta of 1.97. The company has a current ratio of 1.30, a quick ratio of 0.85 and a debt-to-equity ratio of 0.66.
In other Modine Manufacturing news, VP Matthew J. Mcburney sold 4,988 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $14.74, for a total transaction of $73,523.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Scott D. Wollenberg sold 35,334 shares of the business’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $15.35, for a total transaction of $542,376.90. The disclosure for this sale can be found here. Insiders have sold 46,922 shares of company stock worth $715,560 in the last quarter. Company insiders own 4.48% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Advisor Group Inc. grew its holdings in shares of Modine Manufacturing by 129.3% in the fourth quarter. Advisor Group Inc. now owns 3,346 shares of the auto parts company’s stock worth $36,000 after purchasing an additional 1,887 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Modine Manufacturing by 23.3% in the fourth quarter. Bank of Montreal Can now owns 6,173 shares of the auto parts company’s stock worth $67,000 after purchasing an additional 1,165 shares during the last quarter. Eqis Capital Management Inc. bought a new position in shares of Modine Manufacturing in the fourth quarter worth about $124,000. Gotham Asset Management LLC bought a new position in shares of Modine Manufacturing in the fourth quarter worth about $127,000. Finally, Stone Ridge Asset Management LLC grew its holdings in shares of Modine Manufacturing by 39.8% in the fourth quarter. Stone Ridge Asset Management LLC now owns 16,728 shares of the auto parts company’s stock worth $181,000 after purchasing an additional 4,766 shares during the last quarter. Institutional investors and hedge funds own 89.36% of the company’s stock.
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 primarily in the United States. The company operates through Americas, Europe, Asia, Commercial and Industrial Solutions, and Building HVAC segments.
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