Modine Manufacturing Company (NYSE:MOD – Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $255.99, but opened at $246.30. Modine Manufacturing shares last traded at $255.2950, with a volume of 199,309 shares.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on MOD. B. Riley Financial increased their price objective on Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Wall Street Zen raised Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Glj Research reiterated a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a report on Monday, June 1st. Weiss Ratings raised Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. Finally, Zacks Research cut Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $327.14.
View Our Latest Stock Analysis on MOD
Modine Manufacturing Price Performance
Modine Manufacturing (NYSE:MOD – Get Free Report) last posted its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, beating 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 the consensus estimate of $920.67 million. During the same quarter in the prior year, the business earned $1.12 earnings per share. Modine Manufacturing’s revenue for the quarter was up 47.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Modine Manufacturing Company will post 7.73 EPS for the current year.
Insider Activity
In other news, VP Brian Jon Agen sold 38,282 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the completion of the transaction, the vice president owned 66,343 shares in the company, valued at approximately $19,582,463.31. This represents a 36.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Ashleman sold 15,000 shares of Modine Manufacturing stock in a transaction dated Tuesday, June 16th. The stock was 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 directly owned 42,350 shares of the company’s stock, valued at approximately $12,219,669. This trade represents a 26.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 54,302 shares of company stock valued at $15,928,759 in the last 90 days. Insiders own 2.48% of the company’s stock.
Institutional Investors Weigh In On Modine Manufacturing
A number of hedge funds and other institutional investors have recently bought and sold shares of MOD. Optiver Holding B.V. boosted its holdings in shares of Modine Manufacturing by 19.7% in the first quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock worth $51,000 after acquiring an additional 39 shares during the period. World Investment Advisors raised its stake in shares of Modine Manufacturing by 4.1% during the 1st quarter. World Investment Advisors now owns 1,643 shares of the auto parts company’s stock valued at $356,000 after purchasing an additional 65 shares during the period. Xponance LLC lifted its holdings in Modine Manufacturing by 1.7% during the 4th quarter. Xponance LLC now owns 4,424 shares of the auto parts company’s stock worth $591,000 after purchasing an additional 75 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Modine Manufacturing by 3.4% during the 4th quarter. State of Alaska Department of Revenue now owns 3,156 shares of the auto parts company’s stock worth $421,000 after purchasing an additional 103 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Modine Manufacturing by 6.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,780 shares of the auto parts company’s stock worth $386,000 after purchasing an additional 103 shares during the period. Institutional investors own 95.23% of the company’s stock.
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.
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