Insider Selling: Modine Manufacturing Company (NYSE:MOD) EVP Sells 40,422 Shares of Stock

Key Points

• Michael B. Lucareli, EVP of Modine Manufacturing, sold 40,422 shares of stock at an average price of $140.47, resulting in a 49.09% decrease in his ownership stake.
• Modine Manufacturing's stock is currently trading at $136.33, reflecting a 3% decline recently and a market capitalization of $7.16 billion.
• Several hedge funds have made new investments in Modine Manufacturing, alongside significant institutional ownership, totaling 95.23% of the company's stock.

Modine Manufacturing Company (NYSE:MOD - Get Free Report) EVP Michael B. Lucareli sold 40,422 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $140.47, for a total value of $5,678,078.34. Following the sale, the executive vice president owned 41,920 shares of the company's stock, valued at approximately $5,888,502.40. This represents a 49.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Modine Manufacturing Stock Down 3.0%

Modine Manufacturing stock traded down $4.18 during midday trading on Wednesday, reaching $136.33. The company's stock had a trading volume of 861,550 shares, compared to its average volume of 1,577,455. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.06 and a quick ratio of 1.28. The stock has a market capitalization of $7.16 billion, a P/E ratio of 39.06, a PEG ratio of 0.89 and a beta of 2.12. The stock's 50-day simple moving average is $100.17 and its 200-day simple moving average is $93.44. Modine Manufacturing Company has a 52-week low of $64.79 and a 52-week high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The auto parts company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.93 by $0.13. The firm had revenue of $682.80 million during the quarter, compared to analyst estimates of $653.80 million. Modine Manufacturing had a net margin of 7.21% and a return on equity of 23.90%. Modine Manufacturing's revenue was up 3.2% on a year-over-year basis. During the same period last year, the firm posted $1.04 EPS. On average, sell-side analysts expect that Modine Manufacturing Company will post 3.88 EPS for the current year.

Hedge Funds Weigh In On Modine Manufacturing

Several hedge funds have recently made changes to their positions in MOD. EFG Asset Management North America Corp. acquired a new stake in Modine Manufacturing during the 2nd quarter worth about $4,200,000. Nicholas Company Inc. purchased a new position in Modine Manufacturing during the 2nd quarter worth approximately $2,786,000. Roble Belko & Company Inc acquired a new stake in Modine Manufacturing during the 2nd quarter valued at approximately $82,000. Moody Aldrich Partners LLC purchased a new stake in Modine Manufacturing in the second quarter valued at $4,767,000. Finally, Atria Investments Inc purchased a new position in shares of Modine Manufacturing during the 2nd quarter valued at about $519,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MOD. Wall Street Zen lowered Modine Manufacturing from a "buy" rating to a "hold" rating in a research note on Saturday. Oppenheimer boosted their price objective on shares of Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Finally, KeyCorp increased their target price on shares of Modine Manufacturing from $125.00 to $150.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st.

About Modine Manufacturing

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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