Modine Manufacturing Target of Unusually Large Options Trading (NYSE:MOD)

Modine Manufacturing (NYSE:MOD) was the target of unusually large options trading on Monday. Stock investors purchased 7,224 call options on the company. This represents an increase of approximately 340% compared to the average daily volume of 1,642 call options.

Analyst Ratings Changes

MOD has been the subject of several research analyst reports. Oppenheimer increased their target price on Modine Manufacturing from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. DA Davidson increased their price objective on shares of Modine Manufacturing from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 24th. Finally, B. Riley reissued a “buy” rating and issued a $125.00 target price on shares of Modine Manufacturing in a report on Thursday, June 27th.

Hedge Funds Weigh In On Modine Manufacturing

A number of large investors have recently made changes to their positions in MOD. Alps Advisors Inc. bought a new position in shares of Modine Manufacturing during the third quarter valued at approximately $329,000. Seven Eight Capital LP bought a new stake in shares of Modine Manufacturing during the third quarter worth $223,000. Penserra Capital Management LLC purchased a new stake in shares of Modine Manufacturing during the third quarter valued at $1,758,000. American Century Companies Inc. grew its holdings in shares of Modine Manufacturing by 570.1% in the third quarter. American Century Companies Inc. now owns 700,758 shares of the auto parts company’s stock worth $32,060,000 after purchasing an additional 596,177 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Modine Manufacturing by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,056,893 shares of the auto parts company’s stock worth $139,853,000 after buying an additional 95,255 shares during the period. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Up 0.4 %

NYSE MOD opened at $106.13 on Wednesday. Modine Manufacturing has a one year low of $32.46 and a one year high of $110.00. The company has a market capitalization of $5.56 billion, a P/E ratio of 35.03, a P/E/G ratio of 0.85 and a beta of 2.27. The stock has a 50 day moving average price of $99.49 and a 200-day moving average price of $86.68. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.98 and a current ratio of 1.64.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, May 21st. The auto parts company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02). Modine Manufacturing had a net margin of 6.71% and a return on equity of 24.69%. The company had revenue of $603.50 million for the quarter, compared to analysts’ expectations of $605.44 million. During the same quarter last year, the company earned $0.67 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities analysts predict that Modine Manufacturing will post 3.7 EPS for the current fiscal year.

About Modine Manufacturing

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. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.