Modine Manufacturing (NYSE:MOD) Stock Price Down 8.1% – Should You Sell?

Shares of Modine Manufacturing Company (NYSE:MOD) fell 8.1% on Friday . The company traded as low as $262.01 and last traded at $260.8270. 1,143,384 shares changed hands during trading, a decline of 12% from the average daily volume of 1,300,750 shares. The stock had previously closed at $283.67.

Wall Street Analysts Forecast Growth

MOD has been the subject of a number of research reports. Wall Street Zen raised Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Glj Research reissued a “buy” rating and issued a $428.00 price target on shares of Modine Manufacturing in a research report on Monday, June 1st. UBS Group lifted their price target on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Finally, B. Riley Financial upped their price objective on shares of Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $327.14.

Modine Manufacturing Stock Down 9.8%

The company has a market cap of $13.51 billion, a PE ratio of 114.20, a P/E/G ratio of 0.83 and a beta of 1.65. The stock has a 50-day moving average of $270.27 and a 200-day moving average of $213.85. 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 (NYSE:MOD) last announced its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the company earned $1.12 EPS. The company’s quarterly revenue was up 47.5% compared to the same quarter last year. Sell-side analysts predict that Modine Manufacturing Company will post 7.73 earnings per share for the current fiscal year.

Insider Activity at Modine Manufacturing

In related news, Director Eric D. Ashleman sold 15,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director directly owned 42,350 shares of the company’s stock, valued at $12,219,669. This trade represents a 26.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Eric S. Mcginnis sold 1,020 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the transaction, the insider directly owned 28,364 shares of the company’s stock, valued at approximately $8,369,081.84. This represents a 3.47% 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 over the last three months. 2.48% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Perigon Wealth Management LLC increased its position in shares of Modine Manufacturing by 583.1% during the 4th quarter. Perigon Wealth Management LLC now owns 15,171 shares of the auto parts company’s stock valued at $2,025,000 after purchasing an additional 12,950 shares during the last quarter. Wisconsin Capital Management LLC lifted its position in Modine Manufacturing by 227.9% in the 3rd quarter. Wisconsin Capital Management LLC now owns 23,071 shares of the auto parts company’s stock worth $3,280,000 after buying an additional 16,034 shares during the last quarter. Congress Asset Management Co. boosted its stake in Modine Manufacturing by 7.8% in the fourth quarter. Congress Asset Management Co. now owns 568,853 shares of the auto parts company’s stock worth $75,948,000 after buying an additional 41,373 shares in the last quarter. Van Berkom & Associates Inc. boosted its stake in Modine Manufacturing by 3,145.2% in the fourth quarter. Van Berkom & Associates Inc. now owns 436,084 shares of the auto parts company’s stock worth $58,222,000 after buying an additional 422,646 shares in the last quarter. Finally, Penn Capital Management Company LLC bought a new position in Modine Manufacturing during the third quarter valued at approximately $14,925,000. 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.