Brian Jon Agen Sells 38,282 Shares of Modine Manufacturing (NYSE:MOD) Stock

Modine Manufacturing Company (NYSE:MOD) VP Brian Jon Agen sold 38,282 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.17, for a total value of $11,299,697.94. Following the transaction, the vice president owned 66,343 shares in the company, valued at $19,582,463.31. This trade represents a 36.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Modine Manufacturing Trading Down 6.1%

MOD opened at $277.61 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. Modine Manufacturing Company has a 52 week low of $86.48 and a 52 week high of $323.25. The stock has a market cap of $14.66 billion, a PE ratio of 123.93, a PEG ratio of 0.96 and a beta of 1.65. The business has a 50 day moving average of $268.95 and a 200-day moving average of $211.90.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.20. The company had revenue of $954.40 million for the quarter, compared to analysts’ expectations of $920.67 million. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The firm’s revenue for the quarter was up 47.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 earnings per share. Equities research analysts predict 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 business. Optiver Holding B.V. lifted its stake in Modine Manufacturing by 19.7% during the 1st quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock valued at $51,000 after acquiring an additional 39 shares during the period. Integrated Investment Consultants LLC purchased a new position in shares of Modine Manufacturing during the first quarter valued at approximately $201,000. Argent Capital Management LLC raised its holdings in shares of Modine Manufacturing by 25.4% during the first quarter. Argent Capital Management LLC now owns 10,169 shares of the auto parts company’s stock valued at $2,204,000 after purchasing an additional 2,060 shares during the last quarter. E20 Capital Ltd lifted its position in Modine Manufacturing by 212.6% during the first quarter. E20 Capital Ltd now owns 115,013 shares of the auto parts company’s stock valued at $24,924,000 after purchasing an additional 78,224 shares during the period. Finally, Janus Henderson Group PLC lifted its position in Modine Manufacturing by 2,249.9% during the first quarter. Janus Henderson Group PLC now owns 523,507 shares of the auto parts company’s stock valued at $113,459,000 after purchasing an additional 501,229 shares during the period. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Key Stories Impacting Modine Manufacturing

Here are the key news stories impacting Modine Manufacturing this week:

• Neutral Sentiment: Modine’s recent earnings and analyst backdrop remain constructive: the company beat quarterly EPS and revenue estimates, revenue grew 47.5% year over year, and DA Davidson reiterated a Buy rating with a $330 price target. Article Title
• Positive Sentiment: Several analysts continue to see upside potential, with a consensus rating of Moderate Buy and multiple firms maintaining or raising targets, suggesting Wall Street still expects strong fundamentals to continue. Article Title
• Negative Sentiment: Multiple insiders sold shares over the last few days, including a director, a vice president, and another insider, which can weigh on sentiment because investors often read heavy insider selling as a sign of limited near-term upside. Article Title
• Negative Sentiment: The market also received another report of insider selling tied to a pre-arranged trading plan, reinforcing the perception that company leaders have been taking profits after the stock’s strong run. Article Title

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Glj Research reissued a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a research report on Monday, June 1st. UBS Group upped their price objective on shares of Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. KeyCorp raised their target price on shares of Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. DA Davidson reiterated a “buy” rating and set a $330.00 target price on shares of Modine Manufacturing in a report on Monday. Finally, Zacks Research downgraded Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and an average target price of $327.14.

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.