Shares are trading at $20.90 a great deal higher than $18.99, the stock’s 50 day moving average and much higher than the 200 day moving average of $15.93. The 50 day moving average was up $1.91 or +10.04% and the 200 day average was up $4.97. (NYSE:MOD) shares saw heavy trading volume with 515K shares changing hands in the last trading session. Overall, volume was up 176.43% over the stocks normal daily volume.
Investors are more bullish of late if you watch the change in short interest. The stock recorded a fall in short interest of -19.21% between September 15, 2017 and September 29, 2017. Short shares fell from 802,181 to 648,055 over that timeframe. Days to cover decreased from 4.0 to 3.0 and the percentage of shorted shares is 0.01% as of September 29.
Here is a rundown on some insider market activity for Modine Manufacturing Company (NYSE:MOD). Thomas Andrew Burke, President and CEO sold $1,375,826 worth of shares at an average price of $16.19 on August 31st. That brings the President and CEO’s holdings to $7,451,690 as recorded in a recent Form 4 SEC filing.
The following firms have recently changed their position in MOD. Baird Financial Group, Inc. bolstered its investment by buying 21,356 shares an increase of 79.0%. Baird Financial Group, Inc. claims 48,376 shares valued at $801,000. The total value of its holdings increased 142.7%. James Investment Research Inc trimmed its ownership by selling 109,640 shares a decrease of 99.9% in the quarter. James Investment Research Inc now holds 150 shares worth $3,000. The value of the position overall is down by 99.8%.
As of quarter end Cutler Group LP had sold a total of 200 shares trimming its position 40.0%. The value of the investment in MOD went from $8,000 to $5,000 a change of 37.5% quarter over quarter. Howe & Rusling Inc downsized its position by selling 55 shares a decrease of 28.2% as of 09/30/2017. Howe & Rusling Inc now controls 140 shares with a value of $3,000. The value of the position overall is down by 0.0%.
The company currently has a P/E ratio of 45.43 and market capitalization is 1.05B. As of the latest earnings report the EPS was $0.46 and is estimated to be $1.43 for the current year with 50,122,000 shares outstanding. Next quarter’s EPS is forecasted to be $0.35 with next year’s EPS anticipated to be $1.69.
Modine Manufacturing Company, launched on June 23, 1916, specializes in providing thermal management solutions. The Company is a provider of engineered heat transfer systems and heat transfer components for use in on-highway and off-highway original equipment manufacturer (OEM) vehicular applications, and for sale into an array of building, industrial and refrigeration markets. The Business’s products include radiators and radiator cores, condensers, oil coolers, charge air coolers, heat-transfer modules and assemblies, exhaust gas recirculation (EGR) coolers, building heating, ventilating and air conditioning (HVAC) equipment, and coils. Its segments include Americas, Europe, Asia and Building HVAC..