Ameriprise Financial Inc. Grows Stake in Modine Manufacturing Company $MOD

Key Points

• Ameriprise Financial Inc. has increased its stake in Modine Manufacturing Company by 7.8%, owning approximately 1.52% of the company with a valuation of $61.24 million after acquiring additional shares in the first quarter.
• Several hedge funds also increased their holdings in Modine Manufacturing, with Price T Rowe Associates boosting theirs by an impressive 433.2% during the fourth quarter.
• Modine Manufacturing reported strong quarterly earnings, with an EPS of $1.06 surpassing analysts' expectations of $0.93, and a revenue increase of 3.2% year over year.

Ameriprise Financial Inc. boosted its holdings in Modine Manufacturing Company (NYSE:MOD - Free Report) by 7.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 797,917 shares of the auto parts company's stock after acquiring an additional 57,607 shares during the quarter. Ameriprise Financial Inc. owned 1.52% of Modine Manufacturing worth $61,240,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in 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. Bessemer Group Inc. lifted its position in Modine Manufacturing by 9,728.6% in the 1st quarter. Bessemer Group Inc. now owns 3,440 shares of the auto parts company's stock valued at $264,000 after acquiring an additional 3,405 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Modine Manufacturing by 159.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,976 shares of the auto parts company's stock valued at $766,000 after buying an additional 6,134 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Modine Manufacturing by 384.3% during the 1st quarter. Bank of New York Mellon Corp now owns 848,068 shares of the auto parts company's stock worth $65,089,000 after buying an additional 672,960 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Modine Manufacturing by 16.0% during the 1st quarter. KBC Group NV now owns 2,411 shares of the auto parts company's stock worth $185,000 after buying an additional 333 shares in the last quarter. Institutional investors own 95.23% of the company's stock.

Insider Buying and Selling at Modine Manufacturing

In related news, EVP Michael B. Lucareli sold 80,661 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $128.33, for a total value of $10,351,226.13. Following the completion of the transaction, the executive vice president directly owned 66,920 shares in the company, valued at approximately $8,587,843.60. The trade was a 54.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brian Jon Agen sold 47,939 shares of Modine Manufacturing stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $110.50, for a total transaction of $5,297,259.50. Following the completion of the transaction, the vice president owned 90,015 shares of the company's stock, valued at $9,946,657.50. This represents a 34.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 214,765 shares of company stock valued at $27,455,523 over the last 90 days. 2.48% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on MOD. Oppenheimer lifted their target price on shares of Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. KeyCorp lifted their target price on shares of Modine Manufacturing from $150.00 to $160.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Finally, Wall Street Zen cut shares of 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 data from MarketBeat, Modine Manufacturing currently has an average rating of "Buy" and a consensus price target of $145.67.

Modine Manufacturing Stock Performance

Shares of MOD stock traded down $6.34 during trading hours on Monday, hitting $136.10. 655,433 shares of the company were exchanged, compared to its average volume of 786,543. The firm has a fifty day simple moving average of $116.42 and a 200 day simple moving average of $97.07. The company has a current ratio of 2.06, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. Modine Manufacturing Company has a 52-week low of $64.79 and a 52-week high of $146.84. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 39.00, a P/E/G ratio of 0.86 and a beta of 2.09.

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

About Modine Manufacturing

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.