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

Modine Manufacturing Company (NYSE:MOD) was the recipient of some unusual options trading on Thursday. Stock investors bought 2,364 call options on the stock. This represents an increase of approximately 68% compared to the average daily volume of 1,406 call options.

Insider Activity at Modine Manufacturing

In related news, CEO Neil David Brinker sold 31,871 shares of Modine Manufacturing stock in a transaction that occurred 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 directly owned 238,312 shares in the company, valued at $38,263,374.72. This trade represents a 11.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.48% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MOD. Vanguard Group Inc. boosted its position in shares of Modine Manufacturing by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 5,080,874 shares of the auto parts company’s stock valued at $722,297,000 after purchasing an additional 97,035 shares during the period. Wasatch Advisors LP boosted its stake in shares of Modine Manufacturing by 1.4% in the second quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock valued at $176,553,000 after buying an additional 23,955 shares in the last quarter. State Street Corp grew its holdings in Modine Manufacturing by 4.2% during the second quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock worth $128,985,000 after acquiring an additional 53,351 shares during the period. Capital Research Global Investors acquired a new stake in Modine Manufacturing in the third quarter valued at $184,610,000. Finally, Geode Capital Management LLC lifted its holdings in Modine Manufacturing by 1.2% in the second quarter. Geode Capital Management LLC now owns 1,214,976 shares of the auto parts company’s stock valued at $119,690,000 after acquiring an additional 14,096 shares during the period. 95.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MOD shares. DA Davidson restated a “buy” rating and issued a $200.00 price objective on shares of Modine Manufacturing in a research report on Wednesday, November 19th. Oppenheimer lifted their price target on shares of Modine Manufacturing from $145.00 to $180.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Zacks Research cut shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. Finally, KeyCorp boosted their target price on shares of Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $182.00.

Modine Manufacturing Trading Up 4.9%

Shares of NYSE MOD traded up $6.12 during midday trading on Thursday, reaching $131.17. 156,000 shares of the stock were exchanged, compared to its average volume of 1,835,763. Modine Manufacturing has a twelve month low of $64.79 and a twelve month high of $166.94. The stock has a market capitalization of $6.91 billion, a P/E ratio of 37.90, a PEG ratio of 0.81 and a beta of 1.70. The company has a 50 day simple moving average of $142.59 and a 200 day simple moving average of $137.13. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.00.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, October 28th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, beating 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 business had revenue of $738.90 million for the quarter, compared to the consensus estimate of $699.91 million. During the same period in the previous year, the firm earned $0.97 EPS. The business’s revenue was up 12.3% on a year-over-year basis. As a group, equities analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current year.

About Modine Manufacturing

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.