Modine Manufacturing (NYSE:MOD) Sets New 1-Year High – Here’s What Happened

Modine Manufacturing Company (NYSE:MOD)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $205.74 and last traded at $198.8950, with a volume of 2593392 shares. The stock had previously closed at $196.07.

Analyst Ratings Changes

A number of research analysts have recently commented on MOD shares. KeyCorp increased their target price on Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. UBS Group started coverage on shares of Modine Manufacturing in a research note on Thursday, November 20th. They set a “buy” rating and a $173.00 price target on the stock. Oppenheimer increased their price objective on shares of Modine Manufacturing from $185.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $200.00 price target on shares of Modine Manufacturing in a report on Thursday, January 29th. One investment 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 stock. Based on data from MarketBeat.com, Modine Manufacturing has a consensus rating of “Buy” and an average target price of $192.00.

Modine Manufacturing Trading Up 1.4%

The company’s 50 day moving average price is $145.86 and its two-hundred day moving average price is $143.14. The firm has a market cap of $10.47 billion, a PE ratio of 57.48, a P/E/G ratio of 1.24 and a beta of 1.71. The company has a quick ratio of 1.16, a current ratio of 2.00 and a debt-to-equity ratio of 0.50.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, CEO Neil David Brinker sold 31,871 shares of the business’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 completion of the transaction, the chief executive officer owned 238,312 shares in the company, valued at $38,263,374.72. The trade was a 11.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Suresh V. 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 completion of the sale, the director owned 79,856 shares in the company, valued at approximately $14,699,093.92. The trade was a 1.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 34,071 shares of company stock valued at $5,484,685 in the last 90 days. Company insiders own 2.48% of the company’s stock.

Institutional Trading of Modine Manufacturing

Large investors have recently made changes to their positions in the stock. Capital Research Global Investors bought a new position in shares of Modine Manufacturing in the third quarter worth about $184,610,000. Champlain Investment Partners LLC boosted its position in Modine Manufacturing by 244.3% in the 2nd quarter. Champlain Investment Partners LLC now owns 743,643 shares of the auto parts company’s stock valued at $73,249,000 after buying an additional 527,626 shares during the period. WT Asset Management Ltd bought a new position in Modine Manufacturing in the 4th quarter worth about $69,255,000. Congress Asset Management Co. increased its position in shares of Modine Manufacturing by 954.8% during the third quarter. Congress Asset Management Co. now owns 527,480 shares of the auto parts company’s stock worth $74,987,000 after acquiring an additional 477,473 shares during the period. Finally, Van Berkom & Associates Inc. raised its stake in shares of Modine Manufacturing by 3,145.2% during the fourth quarter. Van Berkom & Associates Inc. now owns 436,084 shares of the auto parts company’s stock valued at $58,222,000 after acquiring an additional 422,646 shares in the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

About Modine Manufacturing

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.