Modine Manufacturing (NYSE:MOD) Director Eric Ashleman Sells 15,000 Shares of Stock

Modine Manufacturing Company (NYSE:MOD) Director Eric Ashleman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total value of $4,328,100.00. Following the completion of the transaction, the director owned 42,350 shares in the company, valued at $12,219,669. This trade represents a 26.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Modine Manufacturing Stock Down 6.1%

Modine Manufacturing stock opened at $277.61 on Wednesday. The stock has a market capitalization of $14.66 billion, a price-to-earnings ratio of 123.93, a PEG ratio of 0.96 and a beta of 1.65. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average of $268.95 and a two-hundred day moving average of $211.90. Modine Manufacturing Company has a twelve month low of $86.48 and a twelve month high of $323.25.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.51 by $0.20. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The business had revenue of $954.40 million during the quarter, compared to analysts’ expectations of $920.67 million. During the same quarter in the prior year, the business earned $1.12 earnings per share. The company’s quarterly revenue was up 47.5% compared to the same quarter last year. As a group, research analysts expect that Modine Manufacturing Company will post 7.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MOD. Zacks Research cut shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. DA Davidson reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Modine Manufacturing in a report on Monday. Glj Research reiterated a “buy” rating and set a $428.00 target price on shares of Modine Manufacturing in a research report on Monday, June 1st. Weiss Ratings raised Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Finally, Oppenheimer increased their target price on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research note 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 MarketBeat, Modine Manufacturing has a consensus rating of “Moderate Buy” and a consensus target price of $327.14.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MOD. Perigon Wealth Management LLC grew its holdings in Modine Manufacturing by 583.1% during the 4th quarter. Perigon Wealth Management LLC now owns 15,171 shares of the auto parts company’s stock valued at $2,025,000 after buying an additional 12,950 shares during the last quarter. Wisconsin Capital Management LLC raised its holdings in shares of Modine Manufacturing by 227.9% in the third quarter. Wisconsin Capital Management LLC now owns 23,071 shares of the auto parts company’s stock worth $3,280,000 after acquiring an additional 16,034 shares during the last quarter. Congress Asset Management Co. lifted its position in shares of Modine Manufacturing by 7.8% in the fourth quarter. Congress Asset Management Co. now owns 568,853 shares of the auto parts company’s stock valued at $75,948,000 after acquiring an additional 41,373 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Modine Manufacturing by 1.9% in the third quarter. Vanguard Group Inc. now owns 5,080,874 shares of the auto parts company’s stock valued at $722,297,000 after acquiring an additional 97,035 shares in the last quarter. Finally, Van Berkom & Associates Inc. boosted its stake in shares of Modine Manufacturing by 3,145.2% during the fourth quarter. Van Berkom & Associates Inc. now owns 436,084 shares of the auto parts company’s stock valued at $58,222,000 after acquiring an additional 422,646 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Trending Headlines about Modine Manufacturing

Here are the key news stories impacting Modine Manufacturing this week:

• Neutral Sentiment: Modine’s recent earnings and analyst backdrop remain constructive: the company beat quarterly EPS and revenue estimates, revenue grew 47.5% year over year, and DA Davidson reiterated a Buy rating with a $330 price target. Article Title
• Positive Sentiment: Several analysts continue to see upside potential, with a consensus rating of Moderate Buy and multiple firms maintaining or raising targets, suggesting Wall Street still expects strong fundamentals to continue. Article Title
• Negative Sentiment: Multiple insiders sold shares over the last few days, including a director, a vice president, and another insider, which can weigh on sentiment because investors often read heavy insider selling as a sign of limited near-term upside. Article Title
• Negative Sentiment: The market also received another report of insider selling tied to a pre-arranged trading plan, reinforcing the perception that company leaders have been taking profits after the stock’s strong run. Article Title

Modine Manufacturing Company Profile

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.