Insider Selling: Modine Manufacturing Company (NYSE:MOD) EVP Sells 80,661 Shares of Stock

Key Points

• Michael B. Lucareli, the EVP of Modine Manufacturing, sold 80,661 shares of stock at an average price of $128.33, totaling over $10 million, which represents a 54.66% decrease in his ownership.
• Modine Manufacturing's stock increase of 3.3% on Monday brought the price to $138.16, after recently reporting a quarterly earnings of $1.06 EPS that surpassed analysts' expectations.
• Institutional investors hold a significant 95.23% stake in Modine Manufacturing, indicating strong institutional backing amidst recent activity in share transactions.

Modine Manufacturing Company (NYSE:MOD - Get Free Report) EVP Michael B. Lucareli sold 80,661 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $128.33, for a total value of $10,351,226.13. Following the transaction, the executive vice president directly owned 66,920 shares of the company's stock, valued at approximately $8,587,843.60. This represents a 54.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Modine Manufacturing Stock Up 3.3%

MOD stock traded up $4.46 during trading on Monday, hitting $138.16. 899,233 shares of the stock traded hands, compared to its average volume of 1,529,938. Modine Manufacturing Company has a 1 year low of $64.79 and a 1 year high of $146.84. The firm's 50 day moving average is $98.25 and its two-hundred day moving average is $93.08. The stock has a market cap of $7.25 billion, a price-to-earnings ratio of 39.59, a price-to-earnings-growth ratio of 0.86 and a beta of 2.12. 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 issued its quarterly earnings data on Wednesday, July 30th. The auto parts company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.13. The firm had revenue of $682.80 million for the quarter, compared to analysts' expectations of $653.80 million. Modine Manufacturing had a net margin of 7.21% and a return on equity of 23.90%. The business's quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.04 EPS. On average, sell-side analysts anticipate that Modine Manufacturing Company will post 3.88 EPS for the current year.

Institutional Investors Weigh In On Modine Manufacturing

Several large investors have recently bought and sold shares of MOD. GAMMA Investing LLC increased its holdings in shares of Modine Manufacturing by 63.1% during the first quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock valued at $28,000 after acquiring an additional 142 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Modine Manufacturing by 245.9% during the 1st quarter. Versant Capital Management Inc now owns 422 shares of the auto parts company's stock worth $32,000 after purchasing an additional 300 shares during the period. Maseco LLP purchased a new position in shares of Modine Manufacturing during the 2nd quarter valued at approximately $51,000. Central Pacific Bank Trust Division purchased a new position in shares of Modine Manufacturing during the 1st quarter valued at approximately $46,000. Finally, First Horizon Advisors Inc. raised its stake in Modine Manufacturing by 442.4% in the 1st quarter. First Horizon Advisors Inc. now owns 640 shares of the auto parts company's stock valued at $49,000 after purchasing an additional 522 shares during the last quarter. Institutional investors own 95.23% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Wall Street Zen cut shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a report on Saturday. 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.

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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