Stock Traders Buy Large Volume of Modine Manufacturing Call Options (NYSE:MOD)

Modine Manufacturing Company (NYSE:MOD) was the recipient of some unusual options trading on Friday. Stock traders purchased 10,567 call options on the company. This represents an increase of 355% compared to the average daily volume of 2,323 call options.

Key Modine Manufacturing News

Here’s some of the latest news about MOD:

• Positive Sentiment: Samsung’s reported interest highlights Modine’s exposure to fast-growing AI data-center cooling demand and was the main catalyst behind the stock’s sharp rise. No agreement has been announced. Samsung Said in Talks to Acquire Data Center Cooling Firm Modine
• Neutral Sentiment: Modine has started commercial production of Airedale chillers at its new Grand Prairie, Texas, facility, adding capacity to serve data-center customers. The company will also outline its multiyear growth strategy and updated financial targets at its November 18 Investor Day. Modine Commences Commercial Production of Airedale Chillers Modine to Host Analyst and Investor Day
• Negative Sentiment: Operational pressures remain a risk: an investment letter cited supply-chain bottlenecks and weak margins, while Modine’s latest reported quarter showed EPS below consensus despite stronger-than-expected revenue. Supply Chain Bottlenecks and Weak Margin Dragged Modine in Q3

Analysts Set New Price Targets

Several research firms recently commented on MOD. Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. DA Davidson reaffirmed a “buy” rating and issued a $330.00 price target on shares of Modine Manufacturing in a research report on Tuesday, October 27th. UBS Group reduced their price target on Modine Manufacturing from $355.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, November 5th. Zacks Research cut Modine Manufacturing from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. Finally, B. Riley Financial lowered their price objective on Modine Manufacturing from $305.00 to $285.00 and set a “buy” rating for the company in a research report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $264.89.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MOD. AlphaGrep UK Ltd increased its position in Modine Manufacturing by 138.6% in the 3rd quarter. AlphaGrep UK Ltd now owns 2,169 shares of the auto parts company’s stock valued at $406,000 after acquiring an additional 1,260 shares during the period. First Trust Advisors LP raised its stake in Modine Manufacturing by 58.3% during the 3rd quarter. First Trust Advisors LP now owns 87,958 shares of the auto parts company’s stock valued at $16,466,000 after acquiring an additional 32,403 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its position in Modine Manufacturing by 46.8% during the 3rd quarter. Edmond DE Rothschild Holding S.A. now owns 17,869 shares of the auto parts company’s stock worth $3,345,000 after acquiring an additional 5,698 shares during the period. Private Advisor Group LLC lifted its position in Modine Manufacturing by 7.4% during the 3rd quarter. Private Advisor Group LLC now owns 21,103 shares of the auto parts company’s stock worth $3,951,000 after acquiring an additional 1,452 shares during the period. Finally, Boston Partners acquired a new stake in Modine Manufacturing during the 3rd quarter worth approximately $18,164,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Stock Up 30.7%

Shares of MOD traded up $32.60 during midday trading on Friday, reaching $138.71. The stock had a trading volume of 5,703,481 shares, compared to its average volume of 1,486,075. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 58.34, a PEG ratio of 0.43 and a beta of 1.86. The company’s fifty day simple moving average is $160.34 and its two-hundred day simple moving average is $213.34. Modine Manufacturing has a 1-year low of $87.84 and a 1-year high of $323.25. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.17 and a quick ratio of 1.34.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, November 3rd. The auto parts company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.12). The firm had revenue of $994.40 million for the quarter, compared to analyst estimates of $978.31 million. Modine Manufacturing had a return on equity of 25.96% and a net margin of 3.58%. The business’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 EPS. Equities research analysts expect that Modine Manufacturing will post 6.25 earnings per share for the current year.

About Modine Manufacturing

Modine Manufacturing Company is a global provider of thermal management solutions, serving markets that need to control heating, cooling and temperature-related performance. Founded in 1916 by Arthur B. Modine, the company is headquartered in Racine, Wisconsin. Through its Climate Solutions business, Modine supplies heating, ventilation and air conditioning equipment for commercial and industrial buildings, as well as cooling systems for data centers. Its offerings include chillers, heat exchangers and other equipment designed to manage indoor environments and remove heat from technology infrastructure.