Brian Jon Agen Sells 47,939 Shares of Modine Manufacturing Company (NYSE:MOD) Stock

Key Points

• Brian Jon Agen, VP of Modine Manufacturing, sold 47,939 shares at an average price of $110.50, amounting to a total transaction of approximately $5.3 million, resulting in a 34.75% decrease in his ownership stake.
• Modine Manufacturing's stock price increased by 18.4% recently, reaching $134.56 per share, with a significant trading volume of 4,507,894 shares.
• The company reported $1.06 EPS for the last quarter, surpassing analyst expectations, and posted a 3.2% increase in revenue year-over-year.

Modine Manufacturing Company (NYSE:MOD - Get Free Report) VP Brian Jon Agen sold 47,939 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $110.50, for a total value of $5,297,259.50. Following the sale, the vice president directly owned 90,015 shares of the company's stock, valued at approximately $9,946,657.50. This represents a 34.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Modine Manufacturing Price Performance

NYSE:MOD traded down $1.32 during trading hours on Friday, hitting $133.24. The company's stock had a trading volume of 1,996,069 shares, compared to its average volume of 1,430,130. The business's 50-day moving average is $98.25 and its two-hundred day moving average is $93.35. The company has a market capitalization of $6.99 billion, a PE ratio of 38.18, a PEG ratio of 0.87 and a beta of 2.12. 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 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 results on Wednesday, July 30th. The auto parts company reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.13. Modine Manufacturing had a return on equity of 24.82% and a net margin of 7.21%. The business had revenue of $682.80 million during the quarter, compared to analysts' expectations of $653.80 million. During the same quarter last year, the business posted $1.04 earnings per share. The business's revenue for the quarter was up 3.2% on a year-over-year basis. As a group, research analysts anticipate that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Oppenheimer increased their price target on Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. Wall Street Zen downgraded Modine Manufacturing from a "buy" rating to a "hold" rating in a report on Saturday. Finally, KeyCorp increased their price objective on Modine Manufacturing from $125.00 to $150.00 and gave the stock an "overweight" rating in a research report on Thursday.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. LPL Financial LLC increased its position in Modine Manufacturing by 3.7% during the 4th quarter. LPL Financial LLC now owns 50,358 shares of the auto parts company's stock worth $5,838,000 after purchasing an additional 1,790 shares in the last quarter. Norges Bank purchased a new stake in Modine Manufacturing during the 4th quarter worth about $31,590,000. Schroder Investment Management Group increased its position 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 purchasing an additional 12,827 shares in the last quarter. California Public Employees Retirement System increased its position 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 purchasing an additional 16,376 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its position 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 purchasing an additional 9,654 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company's stock.

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.