Modine Manufacturing (NYSE:MOD) Hits New 1-Year Low – Time to Sell?

Modine Manufacturing (NYSE:MOD) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $72.18 and last traded at $72.69, with a volume of 1307621 shares traded. The stock had previously closed at $85.32.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reiterated a “buy” rating and issued a $155.00 target price on shares of Modine Manufacturing in a research note on Monday, March 17th.

Modine Manufacturing Stock Performance

The business’s 50-day simple moving average is $90.52 and its two-hundred day simple moving average is $114.82. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 24.39, a P/E/G ratio of 0.71 and a beta of 2.48.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.13. Modine Manufacturing had a net margin of 6.31% and a return on equity of 24.25%. As a group, sell-side analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing announced that its board has approved a share buyback plan on Friday, March 7th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the auto parts company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Modine Manufacturing

In related news, Director William A. Wulfsohn purchased 2,530 shares of Modine Manufacturing stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $79.43 per share, for a total transaction of $200,957.90. Following the acquisition, the director now directly owns 7,277 shares in the company, valued at approximately $578,012.11. The trade was a 53.30 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Modine Manufacturing

Several hedge funds and other institutional investors have recently bought and sold shares of MOD. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Modine Manufacturing by 567.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company’s stock valued at $27,000 after buying an additional 193 shares during the period. Versant Capital Management Inc lifted its holdings in Modine Manufacturing by 245.9% in the first quarter. Versant Capital Management Inc now owns 422 shares of the auto parts company’s stock valued at $32,000 after acquiring an additional 300 shares during the last quarter. Principal Securities Inc. grew its position in Modine Manufacturing by 97.8% in the fourth quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock worth $63,000 after acquiring an additional 269 shares during the period. Central Pacific Bank Trust Division acquired a new stake in Modine Manufacturing during the first quarter worth $46,000. Finally, Centaurus Financial Inc. acquired a new stake in Modine Manufacturing during the fourth quarter worth $148,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

About Modine Manufacturing

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.