Axiom Investors LLC DE Decreases Position in Modine Manufacturing Company $MOD

Key Points

• Axiom Investors LLC DE has reduced its holdings in Modine Manufacturing Company by 66.8%, now owning 61,290 shares valued at approximately $4.70 million.
• Multiple hedge funds have adjusted their stakes in Modine, with Northwestern Mutual increasing its holding by 5.5% and GAMMA Investing LLC growing its stake by 63.1%.
• Modine Manufacturing reported earnings of $1.06 per share, exceeding estimates, and announced a revenue growth of 3.2%% year-over-year for the quarter.

Axiom Investors LLC DE lowered its holdings in Modine Manufacturing Company (NYSE:MOD - Free Report) by 66.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,290 shares of the auto parts company's stock after selling 123,340 shares during the quarter. Axiom Investors LLC DE owned 0.12% of Modine Manufacturing worth $4,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Modine Manufacturing by 63.1% in the first quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock worth $28,000 after purchasing an additional 142 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Modine Manufacturing by 245.9% in 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 last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Modine Manufacturing in the first quarter worth $46,000. First Horizon Advisors Inc. raised its stake in shares of Modine Manufacturing by 442.4% in the first quarter. First Horizon Advisors Inc. now owns 640 shares of the auto parts company's stock worth $49,000 after purchasing an additional 522 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Modine Manufacturing by 14.2% in the first quarter. IFP Advisors Inc now owns 911 shares of the auto parts company's stock worth $70,000 after purchasing an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company's stock.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, Director Suresh V. Garimella sold 14,204 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $11,511,636.24. This represents a 14.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Marsha C. Williams sold 25,761 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $134.77, for a total value of $3,471,809.97. Following the sale, the director owned 120,689 shares in the company, valued at approximately $16,265,256.53. This trade represents a 17.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 239,938 shares of company stock valued at $31,001,392 in the last 90 days. 2.48% of the stock is currently owned by insiders.

Modine Manufacturing Price Performance

Modine Manufacturing stock traded up $2.62 during midday trading on Friday, reaching $149.47. 661,196 shares of the stock traded hands, compared to its average volume of 1,162,103. The stock's fifty day moving average is $123.32 and its 200-day moving average is $100.02. Modine Manufacturing Company has a 12 month low of $64.79 and a 12 month high of $154.00. The stock has a market cap of $7.85 billion, a P/E ratio of 42.83, a PEG ratio of 0.96 and a beta of 2.09. The company has a quick ratio of 1.28, a current ratio of 2.06 and a debt-to-equity ratio of 0.47.

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 return on equity of 23.90% and a net margin of 7.21%.The company had revenue of $682.80 million during the quarter, compared to analyst estimates of $653.80 million. During the same period in the prior year, the company earned $1.04 earnings per share. The firm's revenue was up 3.2% on a year-over-year basis. Modine Manufacturing has set its FY 2026 guidance at EPS. As a group, equities research analysts anticipate that Modine Manufacturing Company will post 3.88 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on MOD shares. KeyCorp lifted their price objective on Modine Manufacturing from $150.00 to $160.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Oppenheimer lifted their price objective on Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. Finally, Wall Street Zen lowered Modine Manufacturing from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $145.67.

Modine Manufacturing 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.