Modine Manufacturing (NYSE:MOD) CEO Neil David Brinker Sells 31,871 Shares

Modine Manufacturing Company (NYSE:MOD) CEO Neil David Brinker sold 31,871 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total value of $5,117,207.76. Following the completion of the sale, the chief executive officer directly owned 238,312 shares of the company’s stock, valued at approximately $38,263,374.72. This trade represents a 11.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Modine Manufacturing Stock Performance

MOD traded up $1.24 during trading on Thursday, hitting $158.70. 185,840 shares of the stock were exchanged, compared to its average volume of 1,115,607. The company has a quick ratio of 1.16, a current ratio of 2.00 and a debt-to-equity ratio of 0.50. Modine Manufacturing Company has a 1-year low of $64.79 and a 1-year high of $166.94. The stock has a fifty day moving average price of $150.44 and a two-hundred day moving average price of $127.97. The firm has a market capitalization of $8.36 billion, a P/E ratio of 45.74, a PEG ratio of 1.01 and a beta of 1.69.

Modine Manufacturing (NYSE:MOD) last announced its 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. The business had revenue of $738.90 million for the quarter, compared to analyst estimates of $699.91 million. Modine Manufacturing had a net margin of 6.93% and a return on equity of 23.19%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the firm posted $0.97 earnings per share. As a group, sell-side analysts predict that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Zacks Research lowered shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. UBS Group initiated coverage on Modine Manufacturing in a report on Thursday, November 20th. They set a “buy” rating and a $173.00 price target on the stock. Oppenheimer upped 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. KeyCorp increased their price objective on Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $182.00.

Institutional Investors Weigh In On Modine Manufacturing

Hedge funds have recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. raised its stake in shares of Modine Manufacturing by 52.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 5,607 shares of the auto parts company’s stock worth $430,000 after buying an additional 1,930 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Modine Manufacturing by 40.6% in the first quarter. Cetera Investment Advisers now owns 13,520 shares of the auto parts company’s stock valued at $1,038,000 after acquiring an additional 3,904 shares during the period. LPL Financial LLC boosted its position in shares of Modine Manufacturing by 15.5% during the 1st quarter. LPL Financial LLC now owns 58,148 shares of the auto parts company’s stock worth $4,463,000 after purchasing an additional 7,790 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of Modine Manufacturing by 6.8% during the 1st quarter. Natixis Advisors LLC now owns 17,311 shares of the auto parts company’s stock worth $1,329,000 after purchasing an additional 1,107 shares in the last quarter. Finally, Blair William & Co. IL grew its stake in shares of Modine Manufacturing by 114.5% during the 1st quarter. Blair William & Co. IL now owns 63,993 shares of the auto parts company’s stock worth $4,911,000 after purchasing an additional 34,154 shares during the period. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.