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

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

Analyst Ratings Changes

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

Modine Manufacturing Stock Performance

The stock has a 50 day simple moving average of $87.93 and a 200 day simple moving average of $114.23. 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 company has a market cap of $3.70 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 0.71 and a beta of 2.48.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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, analysts predict that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing declared that its Board of Directors has initiated a share buyback plan on Friday, March 7th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the auto parts company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

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, with a total value of $200,957.90. Following the completion of the transaction, the director now owns 7,277 shares of the company’s stock, valued at approximately $578,012.11. This trade represents a 53.30 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.40% of the company’s stock.

Institutional Trading of Modine Manufacturing

Institutional investors and hedge funds have recently bought and sold shares of the company. Wasatch Advisors LP boosted its holdings in Modine Manufacturing by 108.0% in the fourth quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company’s stock worth $165,596,000 after purchasing an additional 741,667 shares during the period. J. Goldman & Co LP bought a new stake in shares of Modine Manufacturing during the 4th quarter valued at about $43,201,000. Norges Bank acquired a new stake in Modine Manufacturing during the fourth quarter worth about $31,590,000. T. Rowe Price Investment Management Inc. lifted its holdings in Modine Manufacturing by 27.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,207,181 shares of the auto parts company’s stock worth $139,949,000 after acquiring an additional 262,936 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Modine Manufacturing in the fourth quarter valued at approximately $30,192,000. Institutional investors and hedge funds 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.