Insider Selling: Modine Manufacturing (NYSE:MOD) Director Sells $165,000.00 in Stock

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

Modine Manufacturing Stock Down 0.9%

Shares of NYSE MOD opened at $146.13 on Monday. Modine Manufacturing Company has a 12-month low of $64.79 and a 12-month high of $166.94. The firm’s 50-day simple moving average is $141.67 and its 200 day simple moving average is $139.30. The company has a quick ratio of 1.16, a current ratio of 2.00 and a debt-to-equity ratio of 0.50. The company has a market cap of $7.69 billion, a price-to-earnings ratio of 42.23, a price-to-earnings-growth ratio of 0.93 and a beta of 1.70.

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. Modine Manufacturing had a net margin of 6.93% and a return on equity of 23.19%. The company had revenue of $738.90 million for the quarter, compared to analyst estimates of $699.91 million. During the same period in the prior year, the business earned $0.97 earnings per share. Modine Manufacturing’s quarterly revenue was up 12.3% on a year-over-year basis. On average, research analysts expect that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Modine Manufacturing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MOD. Vanguard Group Inc. raised its stake in shares of Modine Manufacturing by 1.9% in 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 purchasing an additional 97,035 shares during the period. Wasatch Advisors LP raised its position in Modine Manufacturing by 1.4% in 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 buying an additional 23,955 shares during the last quarter. State Street Corp lifted its stake in Modine Manufacturing by 4.2% in the 2nd quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock valued at $128,985,000 after acquiring an additional 53,351 shares in the last quarter. Capital Research Global Investors acquired a new position in Modine Manufacturing during the 3rd quarter worth approximately $184,610,000. Finally, Geode Capital Management LLC grew its stake in shares of Modine Manufacturing by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,214,976 shares of the auto parts company’s stock worth $119,690,000 after acquiring an additional 14,096 shares in the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MOD shares. KeyCorp increased their price objective 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 restated a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. Zacks Research downgraded shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. UBS Group began coverage on shares of Modine Manufacturing in a research note on Thursday, November 20th. They issued a “buy” rating and a $173.00 target price for the company. Finally, Oppenheimer increased their target price on shares of Modine Manufacturing from $145.00 to $180.00 and gave the stock an “outperform” rating in a report on Tuesday, October 14th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock 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.