Modine Manufacturing (NYSE:MOD) Director Eric Ashleman Sells 15,000 Shares

Modine Manufacturing Company (NYSE:MOD) Director Eric Ashleman sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total value of $4,328,100.00. Following the completion of the sale, the director owned 42,350 shares of the company’s stock, valued at approximately $12,219,669. This represents a 26.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Modine Manufacturing Stock Performance

Shares of Modine Manufacturing stock opened at $294.75 on Tuesday. The business has a 50-day simple moving average of $268.23 and a 200 day simple moving average of $211.05. Modine Manufacturing Company has a one year low of $86.48 and a one year high of $323.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25. The firm has a market capitalization of $15.57 billion, a price-to-earnings ratio of 131.58, a PEG ratio of 0.96 and a beta of 1.65.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.20. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The business had revenue of $954.40 million for the quarter, compared to analyst estimates of $920.67 million. During the same quarter in the prior year, the company earned $1.12 earnings per share. The company’s quarterly revenue was up 47.5% on a year-over-year basis. On average, research analysts anticipate that Modine Manufacturing Company will post 7.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Modine Manufacturing

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Modine Manufacturing by 1.9% in the third quarter. Vanguard Group Inc. now owns 5,080,874 shares of the auto parts company’s stock valued at $722,297,000 after purchasing an additional 97,035 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Modine Manufacturing by 4.7% during the fourth quarter. Wellington Management Group LLP now owns 2,879,299 shares of the auto parts company’s stock worth $384,415,000 after purchasing an additional 130,511 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Modine Manufacturing by 31.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock worth $311,503,000 after purchasing an additional 560,131 shares during the last quarter. Wasatch Advisors LP grew its position in Modine Manufacturing by 1.4% in the 2nd quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock worth $176,553,000 after purchasing an additional 23,955 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in Modine Manufacturing by 13.8% in the 4th quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock valued at $197,358,000 after buying an additional 179,617 shares during the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MOD has been the topic of a number of recent research reports. Glj Research reaffirmed a “buy” rating and issued a $428.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 1st. Oppenheimer upped their target price on shares of Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. B. Riley Financial raised their price target on shares of Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. UBS Group lifted their price target on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Finally, Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $327.14.

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.