Key Points
- Modine Manufacturing VP Brian Jon Agen sold 38,282 shares on June 18 for about $11.3 million at an average price of $295.17. After the transaction, he still held 66,343 shares, and the sale was made under a pre-arranged Rule 10b5-1 plan.
- Modine shares were trading near $294.75, close to their 12-month high of $323.25, with the stock up sharply over the past year. The company also showed strong recent results, including earnings of $1.71 per share and 47.5% year-over-year revenue growth in its latest quarter.
- Analyst sentiment remains positive overall, with seven Buy ratings and two Hold ratings. The consensus view is a Moderate Buy, and the average target price stands at $327.14.
Modine Manufacturing Company (NYSE:MOD - Get Free Report) insider Eric Mcginnis sold 1,020 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the transaction, the insider owned 28,364 shares of the company's stock, valued at $8,369,081.84. This represents a 3.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Modine Manufacturing Price Performance
MOD stock opened at $294.75 on Tuesday. The firm has a 50 day moving average of $268.23 and a 200-day moving average of $211.05. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. The company has a market cap of $15.57 billion, a price-to-earnings ratio of 131.58, a PEG ratio of 0.96 and a beta of 1.65. Modine Manufacturing Company has a 12-month low of $86.48 and a 12-month high of $323.25.
Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, beating analysts' consensus estimates of $1.51 by $0.20. The business had revenue of $954.40 million during the quarter, compared to analysts' expectations of $920.67 million. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The business's revenue for the quarter was up 47.5% on a year-over-year basis. During the same quarter last year, the business posted $1.12 earnings per share. As a group, equities analysts expect that Modine Manufacturing Company will post 7.73 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the stock. Oppenheimer boosted their target price on shares of Modine Manufacturing from $271.00 to $325.00 and gave the company an "outperform" rating in a research note on Thursday, May 28th. B. Riley Financial upped their price objective on Modine Manufacturing from $250.00 to $264.00 and gave the stock a "buy" rating in a report on Tuesday, May 26th. Zacks Research lowered shares of Modine Manufacturing from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Glj Research reissued a "buy" rating and issued a $428.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 1st. Finally, Weiss Ratings upgraded shares of Modine Manufacturing from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, May 28th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $327.14.
Read Our Latest Report on Modine Manufacturing
Institutional Investors Weigh In On Modine Manufacturing
Several institutional investors and hedge funds have recently made changes to their positions in the company. Optiver Holding B.V. raised its stake in Modine Manufacturing by 19.7% during the first quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company's stock worth $51,000 after acquiring an additional 39 shares during the period. World Investment Advisors raised its stake in Modine Manufacturing by 4.1% during the 1st quarter. World Investment Advisors now owns 1,643 shares of the auto parts company's stock valued at $356,000 after acquiring an additional 65 shares in the last quarter. Xponance LLC raised its stake in shares of Modine Manufacturing by 1.7% during the fourth quarter. Xponance LLC now owns 4,424 shares of the auto parts company's stock valued at $591,000 after purchasing an additional 75 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Modine Manufacturing by 3.4% in the 4th quarter. State of Alaska Department of Revenue now owns 3,156 shares of the auto parts company's stock worth $421,000 after acquiring an additional 103 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in Modine Manufacturing by 6.1% in the first quarter. PNC Financial Services Group Inc. now owns 1,780 shares of the auto parts company's stock worth $386,000 after purchasing an additional 103 shares during the period. 95.23% of the stock is owned by institutional investors and hedge funds.
Modine Manufacturing Company Profile
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Get Free Report)
Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.
Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.
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