On June 4, Modine Manufacturing declined 5.77% in regular trading, trading at $286.31/share, with trading volume of $47.20 million. The stock had surged approximately 5% on June 2 following the announcement of a landmark $4 billion data center cooling agreement and better-than-expected Q4 earnings.

On the news front, the company disclosed 15 insider transactions on June 2, including executive Eric S. McGinnis selling a total of 10,634 shares at prices ranging from $278.91 to $288.84, valued at approximately $3.06 million. The significant insider selling activity appears to have weighed on sentiment following the stock's sharp post-earnings rally.

Notably, Modine's Q4 adjusted EPS of $1.71 had beaten consensus of $1.55 by 9.6%, while revenue of $954.4 million grew 47.5% year-over-year. Analysts at Oppenheimer and B.Riley had raised price targets to $325 and $340 respectively. Within the Building Products sector, performance was mixed, with AAON down 5.25%, Trane Technologies down 1.20%, Johnson Controls down 1.03%, while Carrier Global rose 1.12%.

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