Axiom Investors LLC DE Sells 123,340 Shares of Modine Manufacturing Company $MOD

Key Points

• Axiom Investors LLC DE decreased its stake in Modine Manufacturing by 66.8% in Q1, owning 61,290 shares worth $4.70 million after selling 123,340 shares.
• Institutional investors now own 95.23% of Modine Manufacturing's stock, with several major firms increasing their positions significantly during the first quarter.
• Modine Manufacturing reported a 12-month revenue increase of 3.2%, with Q2 earnings at $1.06 per share, exceeding analysts' expectations of $0.93.

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

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Modine Manufacturing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 5,187,554 shares of the auto parts company's stock valued at $398,145,000 after purchasing an additional 128,587 shares during the period. Wellington Management Group LLP grew its holdings in shares of Modine Manufacturing by 293.7% during the first quarter. Wellington Management Group LLP now owns 2,468,788 shares of the auto parts company's stock valued at $189,479,000 after buying an additional 1,841,640 shares during the last quarter. Driehaus Capital Management LLC increased its position in shares of Modine Manufacturing by 2.8% during the fourth quarter. Driehaus Capital Management LLC now owns 1,439,980 shares of the auto parts company's stock worth $166,937,000 after acquiring an additional 39,193 shares in the last quarter. Reinhart Partners LLC. increased its position in shares of Modine Manufacturing by 187.3% during the first quarter. Reinhart Partners LLC. now owns 875,834 shares of the auto parts company's stock worth $67,220,000 after acquiring an additional 571,026 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Modine Manufacturing by 384.3% in 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 acquiring an additional 672,960 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors.

Insider Activity at Modine Manufacturing

In other news, VP Brian Jon Agen sold 47,939 shares of the firm's 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 sale, the vice president owned 90,015 shares in the company, valued at $9,946,657.50. This trade represents a 34.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Marsha C. Williams sold 25,761 shares of Modine Manufacturing stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $134.77, for a total transaction of $3,471,809.97. Following the completion of the sale, the director directly owned 120,689 shares in the company, valued at $16,265,256.53. This trade represents a 17.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 214,765 shares of company stock worth $27,455,523. Insiders own 2.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MOD. Oppenheimer boosted 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. KeyCorp increased their price target on Modine Manufacturing from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Finally, Wall Street Zen cut Modine Manufacturing from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Modine Manufacturing has a consensus rating of "Buy" and a consensus price target of $145.67.

Modine Manufacturing Stock Performance

MOD stock traded up $2.17 during midday trading on Thursday, hitting $142.59. The company's stock had a trading volume of 649,122 shares, compared to its average volume of 1,185,816. The stock has a market cap of $7.48 billion, a price-to-earnings ratio of 40.86, a PEG ratio of 0.90 and a beta of 2.12. The company has a quick ratio of 1.28, a current ratio of 2.06 and a debt-to-equity ratio of 0.47. The stock's 50-day moving average price is $114.70 and its 200 day moving average price is $96.48. Modine Manufacturing Company has a 1 year low of $64.79 and a 1 year high of $146.84.

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

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.