Insider Selling: Modine Manufacturing (NYSE:MOD) Director Sells $3,775,056.00 in Stock

Modine Manufacturing (NYSE:MOD) Director Marsha C. Williams sold 34,400 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the completion of the transaction, the director now directly owns 144,038 shares of the company’s stock, valued at approximately $15,806,730.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Modine Manufacturing Price Performance

MOD stock opened at $111.99 on Thursday. The company has a market capitalization of $5.87 billion, a P/E ratio of 36.96, a PEG ratio of 0.86 and a beta of 2.27. The company has a fifty day moving average price of $103.71 and a 200-day moving average price of $95.78. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.80. Modine Manufacturing has a 52-week low of $38.50 and a 52-week high of $123.92.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.18. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The business had revenue of $661.50 million during the quarter, compared to the consensus estimate of $633.55 million. During the same quarter in the prior year, the firm posted $0.85 EPS. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities analysts expect that Modine Manufacturing will post 3.81 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MOD shares. B. Riley upped their price objective on shares of Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Oppenheimer increased their price target on Modine Manufacturing from $114.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. William Blair initiated coverage on Modine Manufacturing in a research report on Monday, July 29th. They set an “outperform” rating on the stock. Finally, DA Davidson increased their target price on Modine Manufacturing from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Modine Manufacturing presently has an average rating of “Moderate Buy” and a consensus target price of $138.33.

Institutional Investors Weigh In On Modine Manufacturing

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Modine Manufacturing by 27.3% during the 1st quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock worth $372,099,000 after buying an additional 838,460 shares in the last quarter. Hennessy Advisors Inc. bought a new position in Modine Manufacturing during the fourth quarter worth $35,414,000. Capital International Investors grew its holdings in Modine Manufacturing by 40.6% in the first quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company’s stock worth $135,726,000 after purchasing an additional 411,946 shares during the period. Driehaus Capital Management LLC increased its stake in Modine Manufacturing by 32.8% in the second quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock valued at $110,403,000 after purchasing an additional 272,174 shares in the last quarter. Finally, Emerald Advisers LLC acquired a new position in shares of Modine Manufacturing during the second quarter valued at about $26,064,000. Institutional investors own 95.23% of the company’s stock.

About Modine Manufacturing

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.