Eric Mcginnis Sells 1,020 Shares of Modine Manufacturing (NYSE:MOD) Stock

Modine Manufacturing Company (NYSE:MOD) insider Eric Mcginnis sold 1,020 shares of Modine Manufacturing stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.06, for a total value of $300,961.20. Following the completion of the sale, the insider directly owned 28,364 shares of the company’s stock, valued at approximately $8,369,081.84. This trade represents a 3.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Modine Manufacturing Stock Performance

NYSE MOD opened at $277.61 on Wednesday. The company’s 50 day moving average is $268.95 and its 200-day moving average is $211.90. Modine Manufacturing Company has a 12-month low of $86.48 and a 12-month high of $323.25. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. The firm has a market cap of $14.66 billion, a P/E ratio of 123.93, a price-to-earnings-growth ratio of 0.96 and a beta of 1.65.

Modine Manufacturing (NYSE:MOD) last released 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 company had revenue of $954.40 million during the quarter, compared to the consensus estimate of $920.67 million. During the same period last year, the firm earned $1.12 EPS. Modine Manufacturing’s revenue for the quarter was up 47.5% on a year-over-year basis. Sell-side analysts predict that Modine Manufacturing Company will post 7.73 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MOD. Wall Street Zen raised Modine Manufacturing from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. DA Davidson reissued a “buy” rating and issued a $330.00 price target on shares of Modine Manufacturing in a report on Monday. KeyCorp raised their price objective on shares of Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Zacks Research cut shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Weiss Ratings raised shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $327.14.

Institutional Investors Weigh In On Modine Manufacturing

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of 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 in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Modine Manufacturing by 4.7% in the 4th quarter. Wellington Management Group LLP now owns 2,879,299 shares of the auto parts company’s stock worth $384,415,000 after acquiring an additional 130,511 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Modine Manufacturing by 31.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock valued at $311,503,000 after purchasing an additional 560,131 shares in the last quarter. Wasatch Advisors LP grew its holdings in shares of Modine Manufacturing by 1.4% during the 2nd quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock valued at $176,553,000 after purchasing an additional 23,955 shares during the last quarter. Finally, Capital Research Global Investors grew its holdings in shares of Modine Manufacturing by 13.8% during the 4th quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock valued at $197,358,000 after purchasing an additional 179,617 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

Key Stories Impacting Modine Manufacturing

Here are the key news stories impacting Modine Manufacturing this week:

• Neutral Sentiment: Modine’s recent earnings and analyst backdrop remain constructive: the company beat quarterly EPS and revenue estimates, revenue grew 47.5% year over year, and DA Davidson reiterated a Buy rating with a $330 price target. Article Title
• Positive Sentiment: Several analysts continue to see upside potential, with a consensus rating of Moderate Buy and multiple firms maintaining or raising targets, suggesting Wall Street still expects strong fundamentals to continue. Article Title
• Negative Sentiment: Multiple insiders sold shares over the last few days, including a director, a vice president, and another insider, which can weigh on sentiment because investors often read heavy insider selling as a sign of limited near-term upside. Article Title
• Negative Sentiment: The market also received another report of insider selling tied to a pre-arranged trading plan, reinforcing the perception that company leaders have been taking profits after the stock’s strong run. Article Title

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.