Modine Manufacturing (NYSE:MOD) Director Suresh Garimella Sells 1,100 Shares

Modine Manufacturing Company (NYSE:MOD) Director Suresh Garimella sold 1,100 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total value of $202,477.00. Following the transaction, the director owned 79,856 shares in the company, valued at $14,699,093.92. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Modine Manufacturing Stock Down 0.4%

Shares of NYSE MOD traded down $0.75 during trading on Tuesday, hitting $195.32. 1,842,141 shares of the company traded hands, compared to its average volume of 1,751,396. The business’s fifty day moving average is $144.99 and its 200 day moving average is $142.43. Modine Manufacturing Company has a fifty-two week low of $64.79 and a fifty-two week high of $205.74. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.00. The firm has a market capitalization of $10.28 billion, a price-to-earnings ratio of 56.31, a P/E/G ratio of 1.17 and a beta of 1.70.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Zacks Research raised Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Friday. KeyCorp increased their target price on shares of Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. Oppenheimer raised their price target on Modine Manufacturing from $185.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday. Finally, UBS Group initiated coverage on shares of Modine Manufacturing in a research report on Thursday, November 20th. They issued a “buy” rating and a $173.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Modine Manufacturing presently has an average rating of “Buy” and an average target price of $192.00.

Institutional Trading of Modine Manufacturing

Several hedge funds and other institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Modine Manufacturing by 26.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock valued at $2,857,000 after acquiring an additional 7,831 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Modine Manufacturing by 24.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 12,430 shares of the auto parts company’s stock valued at $1,224,000 after purchasing an additional 2,454 shares in the last quarter. Truist Financial Corp increased its position in shares of Modine Manufacturing by 12.7% during the second quarter. Truist Financial Corp now owns 10,194 shares of the auto parts company’s stock valued at $1,004,000 after buying an additional 1,147 shares during the period. KLP Kapitalforvaltning AS raised its stake in Modine Manufacturing by 7.9% in the second quarter. KLP Kapitalforvaltning AS now owns 10,900 shares of the auto parts company’s stock worth $1,074,000 after buying an additional 800 shares in the last quarter. Finally, Independent Solutions Wealth Management LLC lifted its holdings in Modine Manufacturing by 3.5% in the second quarter. Independent Solutions Wealth Management LLC now owns 16,157 shares of the auto parts company’s stock worth $1,591,000 after buying an additional 543 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.