Key Points
- Modine CEO Neil David Brinker sold 31,871 shares on Dec. 2 at an average price of $160.56 for about $5.12 million, cutting his stake by 11.8% to 238,312 shares valued at roughly $38.26 million.
- MOD is trading near $159.43 (50-day MA $150.92, 200-day MA $128.19) with a 1-year range of $64.79–$166.94, a market cap of about $8.39 billion and a P/E of 46.08; analysts forecast ~3.88 EPS for the current fiscal year.
- Analysts are largely positive (consensus "Moderate Buy" and a $182 target) while institutional ownership is very high at 95.23%, with major holders like Vanguard and Wellington recently increasing positions.
Modine Manufacturing Company (NYSE:MOD - Get Free Report) CEO Neil David Brinker sold 31,871 shares of the business's stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total value of $5,117,207.76. Following the completion of the transaction, the chief executive officer directly owned 238,312 shares in the company, valued at approximately $38,263,374.72. This trade represents a 11.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Modine Manufacturing Trading Up 1.3%
MOD opened at $159.43 on Friday. The company has a fifty day moving average price of $150.92 and a two-hundred day moving average price of $128.19. Modine Manufacturing Company has a 1-year low of $64.79 and a 1-year high of $166.94. The company has a market cap of $8.39 billion, a P/E ratio of 46.08, a price-to-earnings-growth ratio of 1.00 and a beta of 1.69. The company has a current ratio of 2.00, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50.
Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its earnings results on Tuesday, October 28th. The auto parts company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.09. The business had revenue of $738.90 million during the quarter, compared to analyst estimates of $699.91 million. Modine Manufacturing had a return on equity of 23.19% and a net margin of 6.93%.The firm's revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.97 EPS. Analysts predict that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.
Hedge Funds Weigh In On Modine Manufacturing
Several institutional investors have recently modified their holdings of MOD. Vanguard Group Inc. boosted its holdings in shares of Modine Manufacturing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 5,187,554 shares of the auto parts company's stock worth $398,145,000 after buying an additional 128,587 shares during the last quarter. Wellington Management Group LLP increased its holdings in Modine Manufacturing by 293.7% during the first quarter. Wellington Management Group LLP now owns 2,468,788 shares of the auto parts company's stock worth $189,479,000 after buying an additional 1,841,640 shares during the last quarter. Wasatch Advisors LP raised its position in Modine Manufacturing by 1.4% in the second quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company's stock worth $176,553,000 after acquiring an additional 23,955 shares during the period. State Street Corp raised its position in Modine Manufacturing by 4.2% in the second quarter. State Street Corp now owns 1,309,488 shares of the auto parts company's stock worth $128,985,000 after acquiring an additional 53,351 shares during the period. Finally, Capital Research Global Investors purchased a new position in Modine Manufacturing in the third quarter valued at about $184,610,000. 95.23% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research firms have weighed in on MOD. UBS Group started coverage on shares of Modine Manufacturing in a report on Thursday, November 20th. They set a "buy" rating and a $173.00 price objective on the stock. DA Davidson reissued a "buy" rating and set a $200.00 target price on shares of Modine Manufacturing in a research report on Wednesday, November 19th. Oppenheimer upped their target price on shares of Modine Manufacturing from $145.00 to $180.00 and gave the stock an "outperform" rating in a report on Tuesday, October 14th. KeyCorp lifted their price target on Modine Manufacturing from $160.00 to $175.00 and gave the company an "overweight" rating in a research note on Tuesday, October 14th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Modine Manufacturing in a report on Monday. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $182.00.
View Our Latest Stock Report on Modine Manufacturing
About Modine Manufacturing
(
Get Free Report)
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.
Further Reading
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