Insider Selling: Modine Manufacturing (NYSE:MOD) CEO Sells $5,117,207.76 in Stock

Modine Manufacturing Company (NYSE:MOD) CEO Neil David Brinker sold 31,871 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the transaction, the chief executive officer owned 238,312 shares of the company’s stock, valued at approximately $38,263,374.72. The trade was a 11.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Modine Manufacturing Trading Up 1.9%

MOD opened at $162.89 on Friday. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $166.94. The company has a fifty day moving average of $151.40 and a 200-day moving average of $128.76. The stock has a market cap of $8.58 billion, a PE ratio of 47.08, a price-to-earnings-growth ratio of 1.04 and a beta of 1.69. The company has a quick ratio of 1.16, a current ratio of 2.00 and a debt-to-equity ratio of 0.50.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, October 28th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.09. Modine Manufacturing had a net margin of 6.93% and a return on equity of 23.19%. The business had revenue of $738.90 million for the quarter, compared to analyst estimates of $699.91 million. During the same quarter in the previous year, the business earned $0.97 earnings per share. Modine Manufacturing’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, sell-side analysts predict that Modine Manufacturing Company will post 3.88 EPS for the current year.

Analyst Upgrades and Downgrades

MOD has been the topic of several recent analyst reports. Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. KeyCorp lifted their price objective on shares of Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. DA Davidson reissued a “buy” rating and set a $200.00 target price on shares of Modine Manufacturing in a research note on Wednesday, November 19th. Oppenheimer lifted their price target on shares of Modine Manufacturing from $145.00 to $180.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Finally, UBS Group assumed coverage on shares of Modine Manufacturing in a research report on Thursday, November 20th. They set a “buy” rating and a $173.00 price objective on the stock. Four 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 has an average rating of “Moderate Buy” and an average target price of $182.00.

Institutional Trading of Modine Manufacturing

Institutional investors and hedge funds have recently modified their holdings of the stock. Allworth Financial LP boosted its position in shares of Modine Manufacturing by 38.8% during the third quarter. Allworth Financial LP now owns 1,002 shares of the auto parts company’s stock valued at $142,000 after buying an additional 280 shares during the last quarter. IFP Advisors Inc increased its holdings in Modine Manufacturing by 25.6% during the 3rd quarter. IFP Advisors Inc now owns 887 shares of the auto parts company’s stock worth $126,000 after acquiring an additional 181 shares during the period. Swiss Life Asset Management Ltd bought a new stake in shares of Modine Manufacturing during the 3rd quarter valued at about $321,000. Penn Capital Management Company LLC bought a new stake in Modine Manufacturing during the third quarter valued at approximately $14,925,000. Finally, CIBC Bancorp USA Inc. bought a new position in Modine Manufacturing in the third quarter valued at $795,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

About Modine Manufacturing

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.