Modine Manufacturing (NYSE:MOD) Reaches New 12-Month Low – Time to Sell?

Shares of Modine Manufacturing (NYSE:MOD) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $78.42 and last traded at $78.67, with a volume of 1788398 shares trading hands. The stock had previously closed at $87.01.

Analysts Set New Price Targets

Separately, Oppenheimer lifted their target price on Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st.

Modine Manufacturing Trading Down 9.6 %

The firm has a market cap of $4.14 billion, a P/E ratio of 26.40, a P/E/G ratio of 0.71 and a beta of 2.31. The company’s 50 day simple moving average is $110.65 and its 200-day simple moving average is $119.47. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data 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 return on equity of 24.25% and a net margin of 6.31%. As a group, research analysts predict that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Modine Manufacturing by 567.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company’s stock valued at $27,000 after acquiring an additional 193 shares in the last quarter. Principal Securities Inc. boosted its stake in shares of Modine Manufacturing by 97.8% during the fourth quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock valued at $63,000 after purchasing an additional 269 shares in the last quarter. Private Trust Co. NA increased its holdings in Modine Manufacturing by 650.5% during the third quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock valued at $103,000 after buying an additional 670 shares during the period. Farther Finance Advisors LLC raised its stake in Modine Manufacturing by 90.9% in the third quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company’s stock worth $137,000 after buying an additional 491 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Modine Manufacturing by 6.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock valued at $157,000 after acquiring an additional 82 shares in the last quarter. Institutional investors own 95.23% of the company’s stock.

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.