Suresh Garimella Sells 1,100 Shares of Modine Manufacturing (NYSE:MOD) Stock

Modine Manufacturing Company (NYSE:MOD) Director Suresh Garimella sold 1,100 shares of the stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $150.00, for a total transaction of $165,000.00. Following the transaction, the director directly owned 80,956 shares in the company, valued at $12,143,400. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Modine Manufacturing Stock Performance

Shares of Modine Manufacturing stock opened at $146.13 on Friday. The business has a 50-day simple moving average of $141.67 and a 200 day simple moving average of $139.02. Modine Manufacturing Company has a one year low of $64.79 and a one year high of $166.94. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 1.16. The firm has a market capitalization of $7.69 billion, a price-to-earnings ratio of 42.23, a PEG ratio of 0.93 and a beta of 1.70.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Tuesday, October 28th. The auto parts company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.09. The firm had revenue of $738.90 million during the quarter, compared to analysts’ expectations of $699.91 million. Modine Manufacturing had a return on equity of 23.19% and a net margin of 6.93%.The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.97 earnings per share. On average, research analysts anticipate that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Modine Manufacturing

Large investors have recently made changes to their positions in the business. Spire Wealth Management purchased a new position in shares of Modine Manufacturing in the 4th quarter worth about $27,000. First Horizon Corp bought a new stake in Modine Manufacturing in the third quarter worth about $38,000. Sunbelt Securities Inc. purchased a new position in Modine Manufacturing in the third quarter valued at about $39,000. Parkside Financial Bank & Trust grew its position in shares of Modine Manufacturing by 2,025.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock valued at $42,000 after acquiring an additional 405 shares during the period. Finally, Danske Bank A S purchased a new stake in shares of Modine Manufacturing during the 3rd quarter worth approximately $43,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. UBS Group began coverage on Modine Manufacturing in a research note on Thursday, November 20th. They set a “buy” rating and a $173.00 price target for the company. DA Davidson reissued a “buy” rating and set a $200.00 price objective on shares of Modine Manufacturing in a report on Wednesday, November 19th. KeyCorp raised their target price on Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Finally, Oppenheimer upped their price target on Modine Manufacturing from $145.00 to $180.00 and gave the stock an “outperform” rating in a report on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and an average price target of $182.00.

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.