Modine Manufacturing's President and CEO Sells Nearly 32,000 Shares

Core Insights - Modine Manufacturing reported a significant insider sale by President and CEO Neil David Brinker, who sold 31,871 shares for approximately $5.1 million on December 2 [2][3] - The sale represents about 11.8% of Brinker's direct ownership, reducing his stake from 270,183 to 238,312 shares [7] - The company has shown strong performance, with a 39.4% increase in share price year-to-date, significantly outperforming the S&P 500 index [9] Transaction Details - The transaction involved the sale of 31,871 shares at a weighted average purchase price of $160.56, resulting in a total transaction value of around $5.1 million [3] - Post-transaction, Brinker's direct ownership value is approximately $38.2 million based on the market close on December 2 [3] - This sale is the only open-market transaction reported by Brinker since March 2023, with other transactions being administrative in nature [4] Company Overview - Modine Manufacturing is a leading global supplier of heat transfer and thermal management solutions, with operations across North America, South America, Europe, and Asia [6] - The company reported a total revenue of $2.69 billion and a net income of $187.80 million for the trailing twelve months [5] - Modine's diversified customer base and broad product offerings position it competitively within the automotive parts and industrial HVAC markets [6] Performance Metrics - The company experienced a fiscal second-quarter sales growth of 12%, reaching $738.9 million for the period ending September 30 [9] - Management has increased its annual sales growth guidance to a range of 15% to 20%, up from the previous estimate of 10% to 15% [9]