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

Modine Manufacturing Company (NYSE:MOD) Director Eric Ashleman sold 15,000 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the transaction, the director owned 42,350 shares of the company’s stock, valued at $12,219,669. This trade represents a 26.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Modine Manufacturing Stock Performance

NYSE:MOD opened at $294.75 on Tuesday. The stock has a market cap of $15.57 billion, a P/E ratio of 131.58, a price-to-earnings-growth 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’s 50-day moving average is $268.23 and its 200-day moving average is $211.05. Modine Manufacturing Company has a 1-year low of $86.48 and a 1-year 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter last year, the business earned $1.12 EPS. The firm’s quarterly revenue was up 47.5% on a year-over-year basis. Equities research analysts anticipate that Modine Manufacturing Company will post 7.73 earnings per share for the current year.

Analyst Ratings Changes

MOD has been the topic of a number of recent research reports. Glj Research reiterated a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a report on Monday, June 1st. Oppenheimer increased their price objective on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. KeyCorp raised their target price on Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. UBS Group lifted their target price on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, B. Riley Financial upped their price target on Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Modine Manufacturing has an average rating of “Moderate Buy” and an average target price of $327.14.

Institutional Investors Weigh In On Modine Manufacturing

Several institutional investors and hedge funds have recently made changes to their positions in MOD. V Square Quantitative Management LLC bought a new stake in Modine Manufacturing in the first quarter worth approximately $25,000. Kemnay Advisory Services Inc. bought a new position in shares of Modine Manufacturing during the 4th quarter worth approximately $25,000. Spire Wealth Management acquired a new stake in shares of Modine Manufacturing during the 4th quarter worth approximately $27,000. Sunbelt Securities Inc. acquired a new stake in shares of Modine Manufacturing during the 3rd quarter worth approximately $39,000. Finally, Danske Bank A S bought a new stake in shares of Modine Manufacturing in the 3rd quarter valued at $43,000. 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.