Modine Manufacturing (NYSE:MOD) CEO Neil David Brinker Sells 31,871 Shares

Modine Manufacturing Company (NYSE:MOD) CEO Neil David Brinker sold 31,871 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total value of $5,117,207.76. Following the completion of the sale, the chief executive officer owned 238,312 shares in the company, valued at $38,263,374.72. This represents a 11.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Modine Manufacturing Trading Up 0.8%

MOD traded up $1.24 during mid-day trading on Thursday, hitting $158.70. 185,840 shares of the stock were exchanged, compared to its average volume of 1,115,607. The firm’s fifty day moving average is $150.44 and its two-hundred day moving average is $127.97. Modine Manufacturing Company has a 1-year low of $64.79 and a 1-year high of $166.94. The company has a market cap of $8.36 billion, a PE ratio of 45.74, a PEG ratio of 1.01 and a beta of 1.69. The company has a current ratio of 2.00, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, October 28th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.09. Modine Manufacturing had a net margin of 6.93% and a return on equity of 23.19%. The company had revenue of $738.90 million for the quarter, compared to analyst estimates of $699.91 million. During the same period in the prior year, the firm earned $0.97 earnings per share. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities analysts forecast that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Parkside Financial Bank & Trust raised its position in shares of Modine Manufacturing by 17.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 500 shares of the auto parts company’s stock worth $71,000 after acquiring an additional 75 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Modine Manufacturing by 0.8% during the second quarter. Handelsbanken Fonder AB now owns 13,100 shares of the auto parts company’s stock worth $1,290,000 after purchasing an additional 100 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Modine Manufacturing by 5.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,006 shares of the auto parts company’s stock worth $154,000 after buying an additional 105 shares during the last quarter. Intrust Bank NA boosted its holdings in shares of Modine Manufacturing by 2.3% in the 3rd quarter. Intrust Bank NA now owns 4,919 shares of the auto parts company’s stock valued at $699,000 after buying an additional 109 shares in the last quarter. Finally, BCS Private Wealth Management Inc. grew its position in shares of Modine Manufacturing by 2.8% in the 3rd quarter. BCS Private Wealth Management Inc. now owns 4,525 shares of the auto parts company’s stock valued at $643,000 after buying an additional 125 shares during the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on MOD. UBS Group initiated coverage on shares of Modine Manufacturing in a research report on Thursday, November 20th. They issued a “buy” rating and a $173.00 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday. Zacks Research cut Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. KeyCorp upped their price target on Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Finally, DA Davidson reissued a “buy” rating and set a $200.00 price objective on shares of Modine Manufacturing in a research report on Wednesday, November 19th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $182.00.

Modine Manufacturing Company Profile

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.