Congress Asset Management Co. Lowers Holdings in Modine Manufacturing Company $MOD

Key Points

• Congress Asset Management Co. reduced its holdings in Modine Manufacturing Company by 4.5%, after selling 2,363 shares, resulting in ownership of 50,007 shares valued at $4.93 million.
• Significant institutional investors increased their positions in Modine Manufacturing, with Wellington Management Group boosting its stake by 293.7%, now owning approximately 2.47 million shares.
• Modine Manufacturing's latest earnings report indicated a profit of $1.06 per share, exceeding analysts' expectations of $0.93, on a revenue of $682.80 million.

Congress Asset Management Co. lowered its position in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 4.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 50,007 shares of the auto parts company's stock after selling 2,363 shares during the quarter. Congress Asset Management Co. owned about 0.10% of Modine Manufacturing worth $4,926,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MOD. Wellington Management Group LLP lifted its position in Modine Manufacturing by 293.7% during the 1st quarter. Wellington Management Group LLP now owns 2,468,788 shares of the auto parts company's stock worth $189,479,000 after acquiring an additional 1,841,640 shares in the last quarter. Bank of New York Mellon Corp lifted its position in 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 acquiring an additional 672,960 shares in the last quarter. Situational Awareness LP lifted its position in Modine Manufacturing by 980.1% during the 1st quarter. Situational Awareness LP now owns 716,824 shares of the auto parts company's stock worth $55,016,000 after acquiring an additional 650,457 shares in the last quarter. Reinhart Partners LLC. lifted its position in Modine Manufacturing by 187.3% during the 1st 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, Price T Rowe Associates Inc. MD raised its position in shares of Modine Manufacturing by 131.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 498,727 shares of the auto parts company's stock valued at $38,278,000 after purchasing an additional 283,497 shares in the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Modine Manufacturing

In related news, insider Eric S. Mcginnis sold 25,173 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $140.86, for a total value of $3,545,868.78. Following the completion of the sale, the insider directly owned 19,966 shares of the company's stock, valued at $2,812,410.76. The trade was a 55.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Marsha C. Williams sold 25,761 shares of Modine Manufacturing stock in a transaction dated 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 transaction, the director owned 120,689 shares of the company's stock, 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 90 days, insiders have sold 239,938 shares of company stock worth $31,001,392. 2.48% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Modine Manufacturing Price Performance

NYSE:MOD opened at $138.66 on Friday. The firm has a market capitalization of $7.28 billion, a price-to-earnings ratio of 39.73, a P/E/G ratio of 0.88 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 Company has a 12-month low of $64.79 and a 12-month high of $159.54. The stock's 50 day moving average price is $134.89 and its two-hundred day moving average price is $105.34.

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 for the quarter, topping analysts' consensus estimates of $0.93 by $0.13. The company had revenue of $682.80 million for 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 firm's quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.04 earnings per share. Modine Manufacturing has set its FY 2026 guidance at EPS. On average, analysts anticipate that Modine Manufacturing Company will post 3.88 earnings per share 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.

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