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 company’s 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 of the company’s stock, valued at approximately $14,699,093.92. This trade represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Modine Manufacturing Stock Performance

Shares of NYSE:MOD traded down $0.75 on Tuesday, hitting $195.32. 1,842,141 shares of the company were exchanged, compared to its average volume of 1,751,396. Modine Manufacturing Company has a one year low of $64.79 and a one year high of $205.74. The firm has a market capitalization of $10.28 billion, a price-to-earnings ratio of 56.31, a PEG ratio of 1.17 and a beta of 1.70. The company’s 50 day moving average price is $144.99 and its two-hundred day moving average price is $142.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.00.

Analyst Ratings Changes

MOD has been the topic of several recent analyst reports. KeyCorp boosted their target price 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. UBS Group began coverage on Modine Manufacturing in a research report on Thursday, November 20th. They issued a “buy” rating and a $173.00 price objective on the stock. Zacks Research upgraded shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Friday. Oppenheimer lifted their price objective on Modine Manufacturing from $185.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, DA Davidson restated a “buy” rating and set a $200.00 price objective on shares of Modine Manufacturing in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $192.00.

Institutional Trading of Modine Manufacturing

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pier Capital LLC bought a new position in Modine Manufacturing in the 4th quarter valued at approximately $7,765,000. Principal Financial Group Inc. grew its position in shares of Modine Manufacturing by 1.8% in the 4th quarter. Principal Financial Group Inc. now owns 763,681 shares of the auto parts company’s stock valued at $101,959,000 after buying an additional 13,836 shares during the last quarter. Van Berkom & Associates Inc. raised its position 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 worth $58,222,000 after acquiring an additional 422,646 shares during the last quarter. Truist Financial Corp raised its holdings in Modine Manufacturing by 11.6% during the 4th quarter. Truist Financial Corp now owns 12,235 shares of the auto parts company’s stock worth $1,633,000 after purchasing an additional 1,269 shares during the last quarter. Finally, Simplicity Wealth LLC increased its position in shares of Modine Manufacturing by 43.7% during the fourth quarter. Simplicity Wealth LLC now owns 2,070 shares of the auto parts company’s stock worth $276,000 after buying an additional 629 shares during the period. Institutional investors own 95.23% of the company’s stock.

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.