Dimensional Fund Advisors LP recently announced the acquisition of new stake in Modine Manufacturing Co. (NYSE:MOD). The institutional investor has increased its shareholding in the Consumer Cyclical company by 0.69% to 3.86 million shares with purchase of 26331.0 shares. This fresh investment now brings its stake to 7.40% valued currently at $190.11 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.11 million to 2.94 million shares. And Segall Bryant & Hamill LLC has lifted its position by 4.13% or 70822.0 shares – to 1.78 million shares.
With over 0.45 million Modine Manufacturing Co. (MOD) shares trading Friday and a closing price of $58.67 on the day, the dollar volume was approximately $26.46 million. The shares have shown a positive half year performance of 88.04% and its price on 12/22/23 gained nearly 1.45%. Currently, there are 52.10M common shares owned by the public and among those 50.94M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for MOD have a consensus price objective of $56.75. The analysts have set the share’s price value over the next 12 months at a high of $60.00 and a low of $50.00. The average price target is -3.38% below its recent price level and a downside to the estimated low will see the stock lose -17.34% over that period. But an upside of 2.22% will see the stock hit the forecast high price target while median target price for the stock is $58.50.
Insiders at the company have transacted a total of 54 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 19 of these insider trades were purchases, accounting for 140,748 shares. Insider sales of the common stock occurred on 35 occasions, with total insider shares sold totaling 203,066 shares.
The top 3 mutual fund holders in Modine Manufacturing Co. are Vanguard Total Stock Market ETF, DFA US Small Cap Value Portfolio, and iShares Russell 2000 ETF. Vanguard Total Stock Market ETF owns 1.55 million shares of the company’s stock, all valued at over $76.25 million. The company bought an additional 2230.0 shares recently to bring their total holdings to about 2.97% of the shares outstanding. iShares Russell 2000 ETF bought 615.0 shares to bring its total holdings to over 1.25 million shares at a value of $61.43 million. iShares Russell 2000 ETF now owns shares totaling to 2.39% of the shares outstanding.
Shares of Modine Manufacturing Co. (NYSE: MOD) opened at $57.65, down -$0.18 from a prior closing price of $57.83. However, the script later moved the day high at 59.03, up 1.45%. The company’s stock has a 5-day price change of 3.40% and 28.63% over the past three months. MOD shares are trading 195.42% year to date (YTD), with the 12-month market performance up to 174.29% higher. It has a 12-month low price of $19.11 and touched a high of $59.50 over the same period. MOD has an average intraday trading volume of 672.25K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.61%, 22.15%, and 59.58% respectively.
Institutional ownership of Modine Manufacturing Co. (NYSE: MOD) shares accounts for 91.75% of the company’s 52.10M shares outstanding. Mutual fund holders own 45.30%, while other institutional holders and individual stakeholders account for 46.49% and 17.28% respectively.
It has a market capitalization of $3.06B and a beta (3y monthly) value of 2.29. The stock’s trailing 12-month PE ratio is 15.15, while the earnings-per-share (ttm) stands at $3.87. The company has a PEG of 1.70 and a Quick Ratio of 1.17 with the debt-to-equity ratio at 0.60. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.26% over the week and 3.61% over the month.
Analysts forecast that Modine Manufacturing Co. (MOD) will achieve an EPS of $0.59 for the current quarter, $0.72 for the next quarter and $3.54 for 2025. The lowest estimate earnings-per-share for the quarter is $0.54 while analysts give the company a high EPS estimate of $0.63. Comparatively, EPS for the current quarter was $0.48 a year ago. Earnings per share for the fiscal year are expected to increase by 56.28%, and 16.24% over the next financial year. EPS should shrink at an annualized rate of 8.90% over the next five years, compared to 46.19% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Modine Manufacturing Co. (MOD) as a “Strong Buy” at a consensus score of 1.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the MOD, a number of firms have released research notes about the stock. CJS Securities stated their Market Outperform rating for the stock in a research note on June 13, 2023, with the firm’s price target at $40.
