In a recent move, Brian Jon Agen, Vice President of Human Resources at Modine (NYSE:MOD) Manufacturing Co (NYSE:MOD), sold a significant number of company shares. The transactions, which occurred on March 28, 2024, involved the sale of 15,389 shares at a weighted average price of approximately $95.60, with individual sales prices ranging from $95.02 to $96.02. Additionally, Agen sold 1,410 shares at an average price of around $96.05, with a price range of $96.02 to $96.09. The total value of the shares sold amounted to over $1.6 million.
On the same day, Agen also acquired shares through option exercises, with a total transaction value of $190,488. The options were exercised at prices ranging from $10.00 to $14.94 per share. The transactions included the acquisition of 3,192 shares at $14.94, 4,842 shares at $11.39, and 8,765 shares at $10.00 each.
Following the sales, Agen's ownership in Modine Manufacturing includes 1,474 units of common stock held in his 401(k) retirement plan account, as noted in the footnotes of the filing.
Investors often monitor insider transactions such as these for insights into executive sentiment about the company's prospects. Modine Manufacturing Co, known for its motor vehicle parts and accessories, is headquartered in Racine, Wisconsin, and has a fiscal year-end on March 31.
InvestingPro Insights
Modine Manufacturing Co (NYSE:MOD) has seen a noteworthy insider transaction, which could be a signal to investors about the company's health and future prospects. To further understand the context of these transactions, we can look at the latest data and insights from InvestingPro.
InvestingPro Data shows that Modine Manufacturing has a market capitalization of $4.9 billion, with a Price/Earnings (P/E) ratio of 21.93. This figure is slightly adjusted to 21.65 when considering the last twelve months as of Q3 2024. The company's Price to Book (P/B) ratio stands at 6.74, which is considered high, indicating that the market values the company's assets quite aggressively compared to its book value.
On the performance front, Modine Manufacturing has demonstrated a strong return over the last three months, with a 57.3% price total return. This is further bolstered by an impressive six-month price total return of 105.27%, and a staggering one-year price total return of 307.42%. These figures suggest a robust bullish trend in the company’s stock price.
Furthermore, analysts have revised their earnings upwards for the upcoming period, as per InvestingPro Tips. This could be a positive sign for potential growth and profitability. Another InvestingPro Tip highlights that the company is trading at a low P/E ratio relative to its near-term earnings growth, which might indicate that the stock is undervalued given its growth prospects.
For investors looking to delve deeper into Modine Manufacturing's financials and projections, additional InvestingPro Tips are available at https://www.investing.com/pro/MOD. There are 13 more InvestingPro Tips that could provide valuable insights into the company's performance and outlook. If you're considering an in-depth analysis, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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