Insider Selling: Modine Manufacturing (NYSE:MOD) Insider Sells $300,961.20 in Stock

Modine Manufacturing Company (NYSE:MOD) insider Eric Mcginnis sold 1,020 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total value of $300,961.20. Following the sale, the insider directly owned 28,364 shares in the company, valued at $8,369,081.84. The trade was a 3.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Modine Manufacturing Stock Performance

Modine Manufacturing stock traded down $7.46 on Monday, hitting $289.91. The company’s stock had a trading volume of 253,339 shares, compared to its average volume of 1,288,583. The company has a fifty day moving average price of $267.17 and a 200-day moving average price of $210.11. The firm has a market cap of $15.31 billion, a P/E ratio of 130.07, a price-to-earnings-growth ratio of 0.96 and a beta of 1.65. Modine Manufacturing Company has a one year low of $86.48 and a one year high of $323.25. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.20. The business had revenue of $954.40 million for the quarter, compared to analysts’ expectations of $920.67 million. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The firm’s revenue for the quarter was up 47.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 earnings per share. On average, equities analysts anticipate that Modine Manufacturing Company will post 7.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. B. Riley Financial boosted their price target on Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. UBS Group increased their price objective on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Glj Research reissued a “buy” rating and set a $428.00 price objective on shares of Modine Manufacturing in a report on Monday, June 1st. Zacks Research lowered shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Oppenheimer increased their target price on shares of Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $327.14.

Institutional Trading of Modine Manufacturing

Several hedge funds have recently modified their holdings of MOD. Optiver Holding B.V. lifted its holdings in Modine Manufacturing by 19.7% during the 1st quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock worth $51,000 after buying an additional 39 shares in the last quarter. Integrated Investment Consultants LLC acquired a new position in shares of Modine Manufacturing during the first quarter valued at $201,000. Argent Capital Management LLC lifted its stake in shares of Modine Manufacturing by 25.4% during the first quarter. Argent Capital Management LLC now owns 10,169 shares of the auto parts company’s stock valued at $2,204,000 after acquiring an additional 2,060 shares during the period. E20 Capital Ltd boosted its holdings in Modine Manufacturing by 212.6% in the first quarter. E20 Capital Ltd now owns 115,013 shares of the auto parts company’s stock valued at $24,924,000 after acquiring an additional 78,224 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Modine Manufacturing by 2,249.9% during the 1st quarter. Janus Henderson Group PLC now owns 523,507 shares of the auto parts company’s stock worth $113,459,000 after purchasing an additional 501,229 shares during the last quarter. 95.23% of the stock is owned by institutional investors.

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.