Brian Jon Agen Sells 38,282 Shares of Modine Manufacturing (NYSE:MOD) Stock

Modine Manufacturing Company (NYSE:MOD) VP Brian Jon Agen sold 38,282 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the transaction, the vice president directly owned 66,343 shares in the company, valued at approximately $19,582,463.31. This represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Modine Manufacturing Stock Down 2.4%

MOD stock traded down $7.03 during trading on Monday, reaching $290.34. 906,760 shares of the stock were exchanged, compared to its average volume of 1,294,235. The firm’s 50 day moving average is $267.17 and its 200 day moving average is $210.11. The firm has a market cap of $15.34 billion, a P/E ratio of 129.69, a price-to-earnings-growth ratio of 0.96 and a beta of 1.65. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. Modine Manufacturing Company has a twelve month low of $86.48 and a twelve month high of $323.25.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data 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 firm had revenue of $954.40 million for the quarter, compared to analyst estimates of $920.67 million. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The business’s quarterly revenue was up 47.5% compared to the same quarter last year. During the same period last year, the firm earned $1.12 earnings per share. As a group, research analysts forecast that Modine Manufacturing Company will post 7.73 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on MOD. Weiss Ratings upgraded shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. Glj Research restated a “buy” rating and set a $428.00 target price on shares of Modine Manufacturing in a research report on Monday, June 1st. KeyCorp raised their price target on Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. B. Riley Financial raised their target price on Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Finally, Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Modine Manufacturing has a consensus rating of “Moderate Buy” and a consensus price target of $327.14.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Capital Research Global Investors purchased a new position in shares of Modine Manufacturing in the third quarter worth about $184,610,000. Invesco Ltd. increased its stake in Modine Manufacturing by 120.4% in the 4th quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock worth $176,037,000 after purchasing an additional 720,389 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Modine Manufacturing by 31.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock valued at $311,503,000 after purchasing an additional 560,131 shares during the last quarter. WT Asset Management Ltd purchased a new stake in shares of Modine Manufacturing during the fourth quarter valued at approximately $69,255,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Modine Manufacturing by 2,249.9% during the first quarter. Janus Henderson Group PLC now owns 523,507 shares of the auto parts company’s stock valued at $113,459,000 after purchasing an additional 501,229 shares during the period. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

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.