Driehaus Capital Management LLC Has $18.75 Million Position in Modine Manufacturing Company $MOD

Key Points

• Driehaus Capital Management LLC has significantly reduced its stake in Modine Manufacturing Company by 83%, selling 1,195,749 shares and retaining only 244,231 shares valued at approximately $18.7 million.
• Other hedge funds, including Situational Awareness LP, have also changed their positions, with Situational Awareness LP increasing its stake by 980.1%.
• Despite these changes in holdings, Modine Manufacturing has recently received positive analyst ratings, with KeyCorp raising its price target from $150 to $160 and maintaining an "overweight" rating.

Driehaus Capital Management LLC decreased its stake in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 83.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 244,231 shares of the auto parts company's stock after selling 1,195,749 shares during the period. Driehaus Capital Management LLC owned approximately 0.46% of Modine Manufacturing worth $18,745,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. increased its stake in Modine Manufacturing by 5.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,006 shares of the auto parts company's stock valued at $154,000 after buying an additional 105 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Modine Manufacturing by 14.2% during the 1st quarter. IFP Advisors Inc now owns 911 shares of the auto parts company's stock worth $70,000 after buying an additional 113 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Modine Manufacturing by 63.1% during the 1st quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock worth $28,000 after buying an additional 142 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its stake in shares of Modine Manufacturing by 6.2% during the 1st quarter. Mesirow Financial Investment Management Inc. now owns 3,122 shares of the auto parts company's stock worth $241,000 after buying an additional 182 shares during the last quarter. Finally, Bay Rivers Group boosted its stake in shares of Modine Manufacturing by 3.4% during the 1st quarter. Bay Rivers Group now owns 6,308 shares of the auto parts company's stock worth $484,000 after buying an additional 209 shares during the last quarter. Institutional investors own 95.23% of the company's stock.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, EVP Michael B. Lucareli sold 80,661 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president directly owned 66,920 shares of the company's stock, valued at $8,587,843.60. This trade represents a 54.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Marsha C. Williams sold 25,761 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $134.77, for a total transaction of $3,471,809.97. Following the completion of the transaction, the director directly owned 120,689 shares in the company, valued at approximately $16,265,256.53. This 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 quarter. Company insiders own 2.48% of the company's stock.

Modine Manufacturing Stock Performance

Shares of NYSE MOD traded up $1.78 during mid-day trading on Thursday, reaching $135.56. 154,085 shares of the company were exchanged, compared to its average volume of 1,170,254. The company's 50-day simple moving average is $118.51 and its 200-day simple moving average is $97.88. 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 has a market capitalization of $7.12 billion, a P/E ratio of 38.89, a P/E/G ratio of 0.86 and a beta of 2.09. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $146.84.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. KeyCorp increased their price objective on shares of Modine Manufacturing from $150.00 to $160.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Oppenheimer increased their price target on shares of Modine Manufacturing from $121.00 to $122.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Finally, Wall Street Zen cut shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Three 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 Company 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.