Key Points
- Director Eric Ashleman sold 15,000 shares of Modine Manufacturing on June 16 at an average price of $288.54, totaling about $4.33 million. After the sale, he still held 42,350 shares, reducing his ownership by 26.16%.
- Modine recently posted strong quarterly results, beating analyst estimates with EPS of $1.71 on revenue of $954.4 million. Revenue jumped 47.5% from a year earlier, and the company’s profitability metrics remained solid.
- Wall Street remains generally upbeat on the stock, with seven Buy ratings and two Hold ratings and a consensus “Moderate Buy” target of $327.14. Several firms have recently raised price targets, even as some insider selling has pressured sentiment.
Modine Manufacturing Company (NYSE:MOD - Get Free Report) Director Eric Ashleman sold 15,000 shares of the firm's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the sale, the director directly owned 42,350 shares in the company, valued at $12,219,669. This represents a 26.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Modine Manufacturing Stock Performance
NYSE:MOD opened at $277.61 on Wednesday. The firm has a 50 day simple moving average of $268.95 and a 200-day simple moving average of $211.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25. The firm has a market cap of $14.66 billion, a PE ratio of 123.93, a P/E/G ratio of 0.96 and a beta of 1.65. Modine Manufacturing Company has a 1-year low of $86.48 and a 1-year high of $323.25.
Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.20. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The business had revenue of $954.40 million for the quarter, compared to the consensus estimate of $920.67 million. During the same quarter in the prior year, the firm posted $1.12 earnings per share. The company's quarterly revenue was up 47.5% compared to the same quarter last year. On average, equities analysts expect that Modine Manufacturing Company will post 7.73 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the company. B. Riley Financial lifted their price objective on Modine Manufacturing from $250.00 to $264.00 and gave the company a "buy" rating in a research report on Tuesday, May 26th. UBS Group raised their price target on Modine Manufacturing to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. Oppenheimer lifted their price target on Modine Manufacturing from $271.00 to $325.00 and gave the company an "outperform" rating in a report on Thursday, May 28th. Wall Street Zen raised shares of Modine Manufacturing from a "hold" rating to a "buy" rating in a research note on Saturday, May 30th. Finally, Zacks Research lowered shares of Modine Manufacturing from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $327.14.
Read Our Latest Stock Report on MOD
Modine Manufacturing News Summary
Here are the key news stories impacting Modine Manufacturing this week:
- Neutral Sentiment: Modine’s recent earnings and analyst backdrop remain constructive: the company beat quarterly EPS and revenue estimates, revenue grew 47.5% year over year, and DA Davidson reiterated a Buy rating with a $330 price target. Article Title
- Positive Sentiment: Several analysts continue to see upside potential, with a consensus rating of Moderate Buy and multiple firms maintaining or raising targets, suggesting Wall Street still expects strong fundamentals to continue. Article Title
- Negative Sentiment: Multiple insiders sold shares over the last few days, including a director, a vice president, and another insider, which can weigh on sentiment because investors often read heavy insider selling as a sign of limited near-term upside. Article Title
- Negative Sentiment: The market also received another report of insider selling tied to a pre-arranged trading plan, reinforcing the perception that company leaders have been taking profits after the stock’s strong run. Article Title
Institutional Trading of Modine Manufacturing
A number of institutional investors and hedge funds have recently made changes to their positions in MOD. Optiver Holding B.V. boosted its stake in Modine Manufacturing by 19.7% during the 1st quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company's stock valued at $51,000 after purchasing an additional 39 shares during the period. World Investment Advisors increased its stake in shares of Modine Manufacturing by 4.1% in the first quarter. World Investment Advisors now owns 1,643 shares of the auto parts company's stock valued at $356,000 after purchasing an additional 65 shares during the period. Xponance LLC increased its stake in shares of Modine Manufacturing by 1.7% in 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 during the period. State of Alaska Department of Revenue raised its holdings in shares of Modine Manufacturing by 3.4% during the fourth quarter. State of Alaska Department of Revenue now owns 3,156 shares of the auto parts company's stock valued at $421,000 after buying an additional 103 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Modine Manufacturing by 6.1% during the first quarter. PNC Financial Services Group Inc. now owns 1,780 shares of the auto parts company's stock valued at $386,000 after buying an additional 103 shares during the last quarter. 95.23% of the stock is currently 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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