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

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

Modine Manufacturing Stock Performance

Modine Manufacturing stock opened at $146.13 on Friday. The stock has a fifty day moving average price of $141.67 and a 200 day moving average price of $138.74. Modine Manufacturing Company has a 52 week low of $64.79 and a 52 week high of $166.94. The firm has a market capitalization of $7.69 billion, a P/E ratio of 42.23, a PEG ratio of 0.94 and a beta of 1.70. The company has a current ratio of 2.00, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50.

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

Institutional Investors Weigh In On Modine Manufacturing

Several institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Modine Manufacturing by 26.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock valued at $2,857,000 after buying an additional 7,831 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Modine Manufacturing by 2.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 9,046 shares of the auto parts company’s stock valued at $946,000 after acquiring an additional 216 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in Modine Manufacturing in the second quarter valued at approximately $260,000. GAMMA Investing LLC raised its stake in shares of Modine Manufacturing by 52.6% during the second quarter. GAMMA Investing LLC now owns 560 shares of the auto parts company’s stock valued at $55,000 after purchasing an additional 193 shares during the period. Finally, Maseco LLP acquired a new position in shares of Modine Manufacturing during the second quarter worth $51,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MOD. KeyCorp lifted their price target 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. DA Davidson restated a “buy” rating and set a $200.00 price target on shares of Modine Manufacturing in a research note on Wednesday, November 19th. Oppenheimer lifted their price objective on Modine Manufacturing from $145.00 to $180.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Finally, UBS Group assumed coverage on Modine Manufacturing in a report on Thursday, November 20th. They set a “buy” rating and a $173.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Modine Manufacturing presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.00.

About Modine Manufacturing

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.