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

Modine Manufacturing Company (NYSE:MOD) CEO Neil David Brinker sold 31,871 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total value of $5,117,207.76. Following the sale, the chief executive officer directly owned 238,312 shares in the company, valued at $38,263,374.72. This represents a 11.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Modine Manufacturing Price Performance

Shares of NYSE MOD opened at $159.43 on Friday. The business has a fifty day moving average price of $150.92 and a two-hundred day moving average price of $128.19. The stock has a market capitalization of $8.39 billion, a PE ratio of 46.08, a P/E/G ratio of 1.00 and a beta of 1.69. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 1.16. Modine Manufacturing Company has a fifty-two week low of $64.79 and a fifty-two week high of $166.94.

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

Institutional Trading of Modine Manufacturing

Several institutional investors have recently modified their holdings of MOD. First Horizon Corp acquired a new position in Modine Manufacturing during the 3rd quarter worth about $38,000. Sunbelt Securities Inc. acquired a new stake in shares of Modine Manufacturing in the third quarter valued at about $39,000. Parkside Financial Bank & Trust raised its position in shares of Modine Manufacturing by 2,025.0% during the second quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock worth $42,000 after acquiring an additional 405 shares during the last quarter. Danske Bank A S bought a new stake in Modine Manufacturing in the third quarter valued at approximately $43,000. Finally, Maseco LLP acquired a new stake in Modine Manufacturing during the 2nd quarter valued at approximately $51,000. Institutional investors own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MOD shares. KeyCorp raised their target price on shares of Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. UBS Group initiated coverage on shares of Modine Manufacturing in a research note on Thursday, November 20th. They issued a “buy” rating and a $173.00 price objective on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday. DA Davidson reaffirmed a “buy” rating and issued a $200.00 target price on shares of Modine Manufacturing in a report on Wednesday, November 19th. Finally, Oppenheimer lifted their price target on Modine Manufacturing from $145.00 to $180.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $182.00.

About Modine Manufacturing

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.