Insider Selling: Modine Manufacturing (NYSE:MOD) VP Sells $11,299,697.94 in Stock

Modine Manufacturing Company (NYSE:MOD) VP Brian Jon Agen sold 38,282 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $295.17, for a total value of $11,299,697.94. Following the transaction, the vice president owned 66,343 shares of the company’s stock, valued at approximately $19,582,463.31. This represents a 36.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Modine Manufacturing Trading Down 2.4%

NYSE:MOD traded down $7.03 during trading hours on Monday, hitting $290.34. The company had a trading volume of 906,760 shares, compared to its average volume of 1,294,235. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25. The stock has a 50-day moving average price of $267.17 and a 200 day moving average price of $210.11. The company has a market capitalization of $15.34 billion, a PE ratio of 129.69, a price-to-earnings-growth ratio of 0.96 and a beta of 1.65. Modine Manufacturing Company has a 52 week low of $86.48 and a 52 week high of $323.25.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data 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 net margin of 3.82% and a return on equity of 24.39%. The business had revenue of $954.40 million during the quarter, compared to analyst estimates of $920.67 million. During the same period in the prior year, the business earned $1.12 EPS. The company’s revenue for the quarter was up 47.5% on a year-over-year basis. On average, equities research analysts predict that Modine Manufacturing Company will post 7.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on MOD. Weiss Ratings upgraded shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. UBS Group increased their target price on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. B. Riley Financial raised their target price on Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. KeyCorp lifted their price target on Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Finally, Glj Research reaffirmed a “buy” rating and issued a $428.00 price target on shares of Modine Manufacturing in a research note on Monday, June 1st. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Modine Manufacturing currently has an average rating of “Moderate Buy” and a consensus price target of $327.14.

Institutional Trading of Modine Manufacturing

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Perigon Wealth Management LLC raised its position in Modine Manufacturing by 583.1% in the 4th quarter. Perigon Wealth Management LLC now owns 15,171 shares of the auto parts company’s stock worth $2,025,000 after buying an additional 12,950 shares during the last quarter. Wisconsin Capital Management LLC lifted its position in Modine Manufacturing by 227.9% during the third quarter. Wisconsin Capital Management LLC now owns 23,071 shares of the auto parts company’s stock valued at $3,280,000 after purchasing an additional 16,034 shares during the period. Congress Asset Management Co. boosted its holdings in 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 worth $75,948,000 after purchasing an additional 41,373 shares during the last quarter. JPMorgan Chase & Co. grew its position in Modine Manufacturing by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,171,497 shares of the auto parts company’s stock worth $166,540,000 after purchasing an additional 151,543 shares during the period. Finally, Vanguard Group Inc. raised its stake in Modine Manufacturing by 1.9% during 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 buying an additional 97,035 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

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.