Modine Manufacturing (NYSE:MOD) Reaches New 52-Week Low at $9.73

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Modine Manufacturing Co. (NYSE:MOD)’s stock price reached a new 52-week low on Friday . The stock traded as low as $9.73 and last traded at $9.89, with a volume of 15962 shares traded. The stock had previously closed at $9.99.

Several equities analysts have recently weighed in on MOD shares. Zacks Investment Research raised shares of Modine Manufacturing from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. TheStreet raised shares of Modine Manufacturing from a “c+” rating to a “b-” rating in a research note on Monday, July 1st. Finally, ValuEngine downgraded shares of Modine Manufacturing from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st.

The company’s 50 day moving average price is $13.12 and its two-hundred day moving average price is $14.17. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 0.78. The stock has a market capitalization of $506.96 million, a PE ratio of 6.75 and a beta of 1.94.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.05). The business had revenue of $529.00 million during the quarter, compared to analysts’ expectations of $544.88 million. Modine Manufacturing had a return on equity of 14.19% and a net margin of 3.25%. The business’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share. Analysts forecast that Modine Manufacturing Co. will post 1.41 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC increased its position in Modine Manufacturing by 0.5% during the first quarter. Clearbridge Investments LLC now owns 183,086 shares of the auto parts company’s stock worth $2,539,000 after purchasing an additional 839 shares during the last quarter. Financial Consulate Inc. increased its position in Modine Manufacturing by 0.4% during the second quarter. Financial Consulate Inc. now owns 243,061 shares of the auto parts company’s stock worth $3,478,000 after purchasing an additional 986 shares during the last quarter. Legal & General Group Plc increased its position in shares of Modine Manufacturing by 6.1% during the fourth quarter. Legal & General Group Plc now owns 17,558 shares of the auto parts company’s stock valued at $190,000 after acquiring an additional 1,008 shares during the last quarter. Stone Ridge Asset Management LLC increased its position in shares of Modine Manufacturing by 7.2% during the second quarter. Stone Ridge Asset Management LLC now owns 17,807 shares of the auto parts company’s stock valued at $255,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Aperio Group LLC increased its position in shares of Modine Manufacturing by 9.1% during the second quarter. Aperio Group LLC now owns 16,068 shares of the auto parts company’s stock valued at $230,000 after acquiring an additional 1,340 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Modine Manufacturing Company Profile (NYSE:MOD)

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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