Modine Manufacturing (NYSE:MOD) Posts Earnings Results, Beats Estimates By $0.19 EPS

Modine Manufacturing (NYSE:MOD – Get Rating) announced its earnings results on Wednesday. The auto parts company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.48 by $0.19, Briefing.com reports. The company had revenue of $618.10 million for the quarter, compared to analyst estimates of $583.70 million. Modine Manufacturing had a return on equity of 22.23% and a net margin of 6.66%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 EPS.

Modine Manufacturing Price Performance

Shares of MOD opened at $24.42 on Friday. The business’s fifty day moving average is $21.29 and its 200 day moving average is $21.82. Modine Manufacturing has a 12-month low of $9.94 and a 12-month high of $26.90. The company has a quick ratio of 1.06, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. The stock has a market cap of $1.27 billion, a P/E ratio of 8.48, a P/E/G ratio of 0.33 and a beta of 2.25.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. StockNews.com initiated coverage on Modine Manufacturing in a report on Thursday, May 18th. They set a “strong-buy” rating on the stock. DA Davidson raised their price target on shares of Modine Manufacturing from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, February 21st. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $33.50.

Insider Buying and Selling at Modine Manufacturing

In other news, VP Brian Jon Agen sold 3,248 shares of Modine Manufacturing stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $22.37, for a total transaction of $72,657.76. Following the completion of the transaction, the vice president now directly owns 110,329 shares in the company, valued at $2,468,059.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Quadrature Capital Ltd bought a new position in Modine Manufacturing during the 3rd quarter valued at $131,000. Delphia USA Inc. bought a new position in shares of Modine Manufacturing during the first quarter valued at about $128,000. Great West Life Assurance Co. Can boosted its holdings in Modine Manufacturing by 124.1% during the first quarter. Great West Life Assurance Co. Can now owns 5,522 shares of the auto parts company’s stock worth $128,000 after purchasing an additional 3,058 shares during the last quarter. Atria Wealth Solutions Inc. bought a new stake in Modine Manufacturing in the 1st quarter worth about $125,000. Finally, Westwood Holdings Group Inc. purchased a new stake in Modine Manufacturing in the 1st quarter valued at about $94,000. Hedge funds and other institutional investors own 89.09% of the company’s stock.

About Modine Manufacturing

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Modine Manufacturing Co engages in provision of thermal management solutions. It operates through the following segments: Heavy-Duty Equipment(HDE), Automotive, Commercial and Industrial Solutions (CIS), and Building HVAC Systems (BHVAC). The HDE segment provides powertrain and engine cooling products, including, but not limited to, radiators, charge air coolers, condensers, oil coolers, EGR coolers, fuel coolers, electronics cooling packages, and battery thermal management systems to OEMs in the commercial vehicle, off-highway, and automotive and light vehicle markets in North America, South America, Europe, and Asia.