In last trading session, Modine Manufacturing Co. (NYSE:MOD) saw 1.85 million shares changing hands with its beta currently measuring 2.29. Company’s recent per share price level of $102.70 trading at $3.7 or 3.74% at ring of the bell on the day assigns it a market valuation of $5.36B. That closing price of MOD’s stock is at a premium of 3.42% from its 52-week high price of $99.19 and is indicating a premium of 81.1% from its 52-week low price of $19.41. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.35 million shares which gives us an average trading volume of 966.28K if we extend that period to 3-months.
Modine Manufacturing Co. (NYSE:MOD) trade information
Upright in the green during last session for gaining 3.74%, in the last five days MOD remained trading in the green while hitting it’s week-highest on Thursday, 03/21/24 when the stock touched $102.70 price level, adding 3.12% to its value on the day. Modine Manufacturing Co.’s shares saw a change of 72.03% in year-to-date performance and have moved 21.21% in past 5-day. Modine Manufacturing Co. (NYSE:MOD) showed a performance of 32.45% in past 30-days. Number of shares sold short was 2.89 million shares which calculate 2.74 days to cover the short interests.
Modine Manufacturing Co. (MOD) estimates and forecasts
Statistics highlight that Modine Manufacturing Co. is scoring comparatively higher than the scores of other players of the relevant industry. The company added 130.32% of value to its shares in past 6 months, showing an annual growth rate of 67.69% while that of industry is 10.50. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to increase by 13.40% in the current quarter and calculating 4.70% increase in the next quarter. This year revenue growth is estimated to rise 5.60% from the last financial year’s standing.
4 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $604 million for the same. And 2 analysts are in estimates of company making revenue of $623.21 million in the next quarter that will end on Jun 2024. Company posted $618.1 million and $575.99 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -2.30% while estimating it to be 8.20% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 46.19% during past 5 years. In 2024, company’s earnings growth rate is likely to be around 66.26% while estimates for its earnings growth in next 5 years are of 8.90%.
MOD Dividends
Modine Manufacturing Co. is more likely to be releasing its next quarterly report between May 22 and May 27 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Modine Manufacturing Co. (NYSE:MOD)’s Major holders
Insiders are in possession of 2.04% of company’s total shares while institution are holding 98.11 percent of that, with stock having share float percentage of 100.15%. Investors also watch the number of corporate investors in a company very closely, which is 98.11% institutions for Modine Manufacturing Co. that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at MOD for having 5.01 million shares of worth $165.48 million. And as of Jun 29, 2023, it was holding 9.58% of the company’s outstanding shares.
The second largest institutional holder is Dimensional Fund Advisors LP, which was holding about 3.84 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 7.33% of outstanding shares, having a total worth of $126.72 million.
On the other hand, Vanguard Total Stock Market Index Fund and DFA U.S. Small Cap Value Series are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 1.51 million shares of worth $49.92 million or 2.89% of the total outstanding shares. The later fund manager was in possession of 1.3 million shares on Jul 30, 2023, making its stake of worth around $48.73 million in the company or a holder of 2.48% of company’s stock.
