Modine Manufacturing Company (NYSE:MOD) EVP Sells $664,470.00 in Stock

Key Points

• Michael B. Lucareli, Executive Vice President of Modine Manufacturing, sold 5,778 shares of stock for a total of $664,470, reducing his ownership by 4.55%.
• Modine Manufacturing's stock price increased by 18.4%, closing at $134.56, with trading volume significantly above average.
• The company reported earnings of $1.06 EPS for the quarter, exceeding analysts' estimates of $0.93 EPS, alongside a 3.2% year-over-year revenue growth.

Modine Manufacturing Company (NYSE:MOD - Get Free Report) EVP Michael B. Lucareli sold 5,778 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $115.00, for a total value of $664,470.00. Following the sale, the executive vice president owned 121,142 shares of the company's stock, valued at $13,931,330. This represents a 4.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Modine Manufacturing Stock Up 18.4%

Shares of MOD stock traded up $20.94 during trading hours on Thursday, reaching $134.56. The company had a trading volume of 4,507,894 shares, compared to its average volume of 1,231,966. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 1.78. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $146.84. The company has a market capitalization of $7.06 billion, a P/E ratio of 39.35, a price-to-earnings-growth ratio of 0.73 and a beta of 2.04. The stock's fifty day simple moving average is $96.51 and its 200 day simple moving average is $93.44.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.13. The firm had revenue of $682.80 million during the quarter, compared to the consensus estimate of $653.80 million. Modine Manufacturing had a return on equity of 25.31% and a net margin of 7.12%. Modine Manufacturing's revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.04 earnings per share. As a group, sell-side analysts expect that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MOD. LPL Financial LLC boosted its holdings in Modine Manufacturing by 3.7% in the fourth quarter. LPL Financial LLC now owns 50,358 shares of the auto parts company's stock valued at $5,838,000 after purchasing an additional 1,790 shares during the last quarter. Norges Bank bought a new position in Modine Manufacturing during the 4th quarter worth approximately $31,590,000. Schroder Investment Management Group lifted its holdings in Modine Manufacturing by 327.7% during the 4th quarter. Schroder Investment Management Group now owns 16,741 shares of the auto parts company's stock worth $1,969,000 after buying an additional 12,827 shares during the last quarter. California Public Employees Retirement System lifted its holdings in Modine Manufacturing by 23.6% during the 4th quarter. California Public Employees Retirement System now owns 85,690 shares of the auto parts company's stock worth $9,934,000 after buying an additional 16,376 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in Modine Manufacturing by 1,257.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 10,422 shares of the auto parts company's stock worth $1,262,000 after buying an additional 9,654 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on MOD. Oppenheimer upped their price target on Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. KeyCorp upped their price target on Modine Manufacturing from $125.00 to $150.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Wall Street Zen upgraded Modine Manufacturing from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $141.75.

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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