Insider Selling: Modine Manufacturing Company (NYSE:MOD) Director Sells 25,761 Shares of Stock

Key Points

• Director Marsha C. Williams sold 25,761 shares of Modine Manufacturing, resulting in a total transaction value of approximately $3.47 million, and a 17.59% decrease in her ownership stake.
• Modine Manufacturing's stock is currently down 1.1%, trading at $140.59, with a market cap of $7.38 billion and a current price-to-earnings ratio of 40.30.
• Analysts have recently adjusted their ratings on Modine Manufacturing, with some firms raising price targets while others downgraded shares from "buy" to "hold".

Modine Manufacturing Company (NYSE:MOD - Get Free Report) Director Marsha C. Williams sold 25,761 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $134.77, for a total transaction of $3,471,809.97. Following the completion of the transaction, the director directly owned 120,689 shares of the company's stock, valued at $16,265,256.53. This represents a 17.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Modine Manufacturing Stock Down 1.1%

Shares of Modine Manufacturing stock traded down $1.53 during trading on Wednesday, hitting $140.59. 300,439 shares of the stock were exchanged, compared to its average volume of 1,222,604. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of 40.30, a price-to-earnings-growth ratio of 0.85 and a beta of 2.12. The firm's 50-day moving average price is $104.76 and its 200 day moving average price is $93.42. Modine Manufacturing Company has a 12-month low of $64.79 and a 12-month high of $146.84. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.06 and a quick ratio of 1.28.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.93 by $0.13. Modine Manufacturing had a net margin of 7.21% and a return on equity of 23.90%. The firm had revenue of $682.80 million for the quarter, compared to analyst estimates of $653.80 million. During the same period last year, the business earned $1.04 EPS. Modine Manufacturing's revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, analysts forecast that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on MOD shares. Wall Street Zen cut shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Oppenheimer lifted their price objective on shares of Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. Finally, KeyCorp lifted their price objective on shares of Modine Manufacturing from $125.00 to $150.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st.

Institutional Investors Weigh In On Modine Manufacturing

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Handelsbanken Fonder AB raised its stake in Modine Manufacturing by 0.8% during the 2nd quarter. Handelsbanken Fonder AB now owns 13,100 shares of the auto parts company's stock worth $1,290,000 after acquiring an additional 100 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Modine Manufacturing by 5.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,006 shares of the auto parts company's stock valued at $154,000 after purchasing an additional 105 shares during the period. IFP Advisors Inc increased its stake in Modine Manufacturing by 14.2% in the first quarter. IFP Advisors Inc now owns 911 shares of the auto parts company's stock valued at $70,000 after purchasing an additional 113 shares during the period. GAMMA Investing LLC increased its stake in Modine Manufacturing by 63.1% in the first quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock valued at $28,000 after purchasing an additional 142 shares during the period. Finally, Summit Investment Advisors Inc. increased its stake in Modine Manufacturing by 2.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,284 shares of the auto parts company's stock valued at $613,000 after purchasing an additional 146 shares during the period. 95.23% of the stock is currently owned by institutional investors and hedge funds.

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.

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