Decade Renewable Partners LP Buys New Holdings in Modine Manufacturing Company $MOD

Key Points

• Decade Renewable Partners LP invested approximately $4.48 million in Modine Manufacturing, acquiring 58,350 shares, which now represents 3.4% of their portfolio.
• Multiple institutional investors, including Vanguard Group and Wellington Management Group, have significantly increased their stakes in Modine Manufacturing during the first quarter of the year.
• Analysts have mixed views on Modine Manufacturing; while KeyCorp raised its price target to $160, Wall Street Zen downgraded the stock from "buy" to "hold," reflecting cautious sentiment in the market.

Decade Renewable Partners LP acquired a new stake in Modine Manufacturing Company (NYSE:MOD - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 58,350 shares of the auto parts company's stock, valued at approximately $4,478,000. Modine Manufacturing comprises approximately 3.4% of Decade Renewable Partners LP's investment portfolio, making the stock its 15th biggest position. Decade Renewable Partners LP owned about 0.11% of Modine Manufacturing as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MOD. GAMMA Investing LLC increased its holdings 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 acquiring an additional 142 shares in the last quarter. Bessemer Group Inc. raised its holdings in Modine Manufacturing by 9,728.6% during the 1st quarter. Bessemer Group Inc. now owns 3,440 shares of the auto parts company's stock worth $264,000 after buying an additional 3,405 shares during the period. Janney Montgomery Scott LLC raised its holdings in Modine Manufacturing by 159.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,976 shares of the auto parts company's stock worth $766,000 after buying an additional 6,134 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Modine Manufacturing by 384.3% in the first quarter. Bank of New York Mellon Corp now owns 848,068 shares of the auto parts company's stock valued at $65,089,000 after buying an additional 672,960 shares during the period. Finally, KBC Group NV lifted its position in Modine Manufacturing by 16.0% in the 1st quarter. KBC Group NV now owns 2,411 shares of the auto parts company's stock valued at $185,000 after acquiring an additional 333 shares in the last quarter. Institutional investors own 95.23% of the company's stock.

Modine Manufacturing Stock Performance

Shares of MOD traded down $0.02 during trading hours on Wednesday, hitting $133.93. The company had a trading volume of 531,145 shares, compared to its average volume of 741,545. The firm has a market cap of $7.03 billion, a price-to-earnings ratio of 38.38, a PEG ratio of 0.86 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. The business has a fifty day moving average of $118.51 and a 200-day moving average of $97.88. Modine Manufacturing Company has a 12 month low of $64.79 and a 12 month high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $1.06 EPS 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 analysts' expectations of $653.80 million. Modine Manufacturing had a return on equity of 23.90% and a net margin of 7.21%.Modine Manufacturing's revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the business earned $1.04 earnings per share. Modine Manufacturing has set its FY 2026 guidance at EPS. Equities analysts anticipate that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Insiders Place Their Bets

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 value of $1,992,679.16. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brian Jon Agen sold 47,939 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was 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 of the company's stock, valued at $9,946,657.50. This represents a 34.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 239,938 shares of company stock valued at $31,001,392 over the last quarter. Company insiders own 2.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Oppenheimer upped 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. KeyCorp raised their target price on shares of 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 lowered shares of 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 data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $145.67.

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.