American Century Companies Inc. Has $11.84 Million Stock Holdings in Modine Manufacturing Company $MOD

Key Points

• American Century Companies Inc. reduced its stake in Modine Manufacturing Company by 46.7% in the first quarter, owning approximately $11.84 million worth of shares post-sales.
• Modine Manufacturing reported a quarterly EPS of $1.06, surpassing analysts' expectations and showing a 3.2% increase in revenue year-over-year.
• Institutional investors now hold 95.23% of Modine Manufacturing's stock, with multiple hedge funds adjusting their positions significantly in the first quarter.

American Century Companies Inc. decreased its stake in Modine Manufacturing Company (NYSE:MOD - Free Report) by 46.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,319 shares of the auto parts company's stock after selling 135,415 shares during the period. American Century Companies Inc. owned 0.29% of Modine Manufacturing worth $11,844,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Modine Manufacturing by 63.1% in the 1st quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock valued at $28,000 after acquiring an additional 142 shares in the last quarter. Versant Capital Management Inc grew its holdings in Modine Manufacturing by 245.9% during the first quarter. Versant Capital Management Inc now owns 422 shares of the auto parts company's stock worth $32,000 after purchasing an additional 300 shares during the period. Central Pacific Bank Trust Division acquired a new position in Modine Manufacturing during the first quarter worth approximately $46,000. First Horizon Advisors Inc. increased its position in Modine Manufacturing by 442.4% during the first quarter. First Horizon Advisors Inc. now owns 640 shares of the auto parts company's stock worth $49,000 after buying an additional 522 shares during the last quarter. Finally, IFP Advisors Inc increased its position in Modine Manufacturing by 14.2% during the first quarter. IFP Advisors Inc now owns 911 shares of the auto parts company's stock worth $70,000 after buying an additional 113 shares during the last quarter. Institutional investors own 95.23% of the company's stock.

Insider Buying and Selling at Modine Manufacturing

In other news, Director Suresh V. Garimella sold 14,204 shares of Modine Manufacturing stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $140.29, for a total transaction of $1,992,679.16. Following the sale, the director directly owned 82,056 shares of the company's stock, valued at approximately $11,511,636.24. This trade represents a 14.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Brian Jon Agen sold 47,939 shares of Modine Manufacturing stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $110.50, for a total value of $5,297,259.50. Following the sale, the vice president directly owned 90,015 shares in the company, valued at $9,946,657.50. The trade was a 34.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 214,765 shares of company stock worth $27,455,523 over the last quarter. Company insiders own 2.48% of the company's stock.

Wall Street Analyst Weigh In

MOD has been the topic of a number of recent analyst reports. KeyCorp boosted their price target on Modine Manufacturing from $150.00 to $160.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Oppenheimer boosted their price target on Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. Finally, Wall Street Zen downgraded Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $145.67.

Modine Manufacturing Stock Performance

MOD traded down $6.34 on Friday, reaching $136.10. The company had a trading volume of 655,433 shares, compared to its average volume of 786,543. Modine Manufacturing Company has a fifty-two week low of $64.79 and a fifty-two week high of $146.84. The stock has a market cap of $7.14 billion, a P/E ratio of 39.00, a P/E/G ratio of 0.86 and a beta of 2.09. The company's fifty day moving average is $116.42 and its 200 day moving average is $97.07. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 2.06.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.13. Modine Manufacturing had a net margin of 7.21% and a return on equity of 23.90%. The business had revenue of $682.80 million for the quarter, compared to analyst estimates of $653.80 million. During the same quarter in the prior year, the business earned $1.04 EPS. Modine Manufacturing's quarterly revenue was up 3.2% on a year-over-year basis. Modine Manufacturing has set its FY 2026 guidance at EPS. As a group, analysts predict that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.