Trade Alert: President of Climate Solutions Of Modine Manufacturing Eric McGinnis Has Sold Stock

We wouldn't blame Modine Manufacturing Company (NYSE:MOD) shareholders if they were a little worried about the fact that Eric McGinnis, the President of Climate Solutions recently netted about US$5.6m selling shares at an average price of US$127. Probably the most concerning element of the whole transaction is that the disposal amounted to 64% of their entire holding.

Check out our latest analysis for Modine Manufacturing

Modine Manufacturing Insider Transactions Over The Last Year

In fact, the recent sale by Eric McGinnis was the biggest sale of Modine Manufacturing shares made by an insider individual in the last twelve months, according to our records. That means that an insider was selling shares at around the current price of US$120. While we don't usually like to see insider selling, it's more concerning if the sales take place at a lower price. In this case, the big sale took place at around the current price, so it's not too bad (but it's still not a positive).

Insiders in Modine Manufacturing didn't buy any shares in the last year. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

I will like Modine Manufacturing better if I see some big insider buys. While we wait, check out this free list of undervalued and small cap stocks with considerable, recent, insider buying.

Insider Ownership

Many investors like to check how much of a company is owned by insiders. We usually like to see fairly high levels of insider ownership. It's great to see that Modine Manufacturing insiders own 2.0% of the company, worth about US$137m. Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders.

So What Does This Data Suggest About Modine Manufacturing Insiders?

An insider sold stock recently, but they haven't been buying. Looking to the last twelve months, our data doesn't show any insider buying. It is good to see high insider ownership, but the insider selling leaves us cautious. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. At Simply Wall St, we found 1 warning sign for Modine Manufacturing that deserve your attention before buying any shares.

If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.