Modine Manufacturing Company $MOD Shares Sold by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC reduced its stake in Modine Manufacturing by 38.3%, selling 116,969 shares and retaining a total of 188,698 shares valued at approximately $14.48 million.
• Several institutional investors increased their holdings in Modine Manufacturing during the first quarter, with GAMMA Investing LLC boosting its stake by 63.1% and First Horizon Advisors Inc. increasing their position by 442.4%.
• Modine Manufacturing reported an EPS of $1.06 for the latest quarter, surpassing expectations significantly, while the stock has a consensus rating of "Buy" from analysts.

Fred Alger Management LLC lessened its holdings in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 38.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 188,698 shares of the auto parts company's stock after selling 116,969 shares during the period. Fred Alger Management LLC owned 0.36% of Modine Manufacturing worth $14,483,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Front Street Capital Management Inc. grew its position in shares of Modine Manufacturing by 0.5% during the 1st quarter. Front Street Capital Management Inc. now owns 77,930 shares of the auto parts company's stock valued at $5,981,000 after buying an additional 410 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Modine Manufacturing by 26.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company's stock valued at $2,857,000 after buying an additional 7,831 shares during the last quarter. Interval Partners LP bought a new stake in shares of Modine Manufacturing during the 1st quarter valued at about $6,431,000. Granahan Investment Management LLC grew its position in shares of Modine Manufacturing by 120.8% during the 1st quarter. Granahan Investment Management LLC now owns 232,146 shares of the auto parts company's stock valued at $17,817,000 after buying an additional 127,024 shares during the last quarter. Finally, Bosun Asset Management LLC grew its position in shares of Modine Manufacturing by 13.8% during the 1st quarter. Bosun Asset Management LLC now owns 7,681 shares of the auto parts company's stock valued at $590,000 after buying an additional 933 shares during the last quarter. Institutional investors own 95.23% of the company's stock.

Insider Buying and Selling

In other news, 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 completion of the sale, the director directly owned 120,689 shares of the company's stock, valued at approximately $16,265,256.53. This represents a 17.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael B. Lucareli sold 40,422 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $140.47, for a total transaction of $5,678,078.34. Following the completion of the sale, the executive vice president directly owned 41,920 shares of the company's stock, valued at approximately $5,888,502.40. This represents a 49.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 239,938 shares of company stock worth $31,001,392. Company insiders own 2.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MOD shares. Oppenheimer boosted their target price 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. KeyCorp boosted their target price on shares of Modine Manufacturing from $150.00 to $160.00 and gave the company an "overweight" rating in a research note 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 research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $145.67.

Modine Manufacturing Price Performance

Shares of NYSE:MOD traded up $2.62 during trading on Friday, reaching $149.47. The company had a trading volume of 661,238 shares, compared to its average volume of 652,050. The firm's fifty day moving average is $124.22 and its 200 day moving average is $100.71. The firm has a market capitalization of $7.85 billion, a PE ratio of 42.83, a price-to-earnings-growth ratio of 0.95 and a beta of 2.09. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $154.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 2.06.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly 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 during the quarter, compared to analyst estimates of $653.80 million. Modine Manufacturing had a net margin of 7.21% and a return on equity of 23.90%. The business's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business 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.