Comerica Bank Sells 11,459 Shares of Modine Manufacturing Company $MOD

Key Points

• Comerica Bank reduced its holdings in Modine Manufacturing Company by 22.7%, ending the first quarter with 38,957 shares valued at approximately $2.99 million.
• Despite insider selling, several hedge funds increased their stakes, with AlphaQuest LLC raising theirs by an impressive 3,912%, owning 4,333 shares valued at $333,000.
• Modine Manufacturing reported earnings of $1.06 per share, exceeding expectations, and has set a FY 2026 guidance with a projected EPS of 3.88.

Comerica Bank reduced its position in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 22.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,957 shares of the auto parts company's stock after selling 11,459 shares during the period. Comerica Bank owned about 0.07% of Modine Manufacturing worth $2,990,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MOD. Wellington Management Group LLP increased its position in Modine Manufacturing by 293.7% in the first quarter. Wellington Management Group LLP now owns 2,468,788 shares of the auto parts company's stock worth $189,479,000 after buying an additional 1,841,640 shares during the period. Bank of New York Mellon Corp increased its position in 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 worth $65,089,000 after buying an additional 672,960 shares during the period. Reinhart Partners LLC. increased its position in Modine Manufacturing by 187.3% in the first quarter. Reinhart Partners LLC. now owns 875,834 shares of the auto parts company's stock worth $67,220,000 after buying an additional 571,026 shares during the period. J. Goldman & Co LP acquired a new stake in Modine Manufacturing in the fourth quarter worth $43,201,000. Finally, Price T Rowe Associates Inc. MD increased its position in Modine Manufacturing by 131.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 498,727 shares of the auto parts company's stock worth $38,278,000 after buying an additional 283,497 shares during the period. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Stock Up 1.3%

Modine Manufacturing stock traded up $1.76 during mid-day trading on Thursday, hitting $135.54. The company's stock had a trading volume of 249,539 shares, compared to its average volume of 1,170,709. The firm's 50 day moving average is $118.51 and its 200 day moving average is $97.88. The company has a market cap of $7.11 billion, a PE ratio of 38.83, a price-to-earnings-growth ratio of 0.86 and a beta of 2.09. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.06 and a quick ratio of 1.28. Modine Manufacturing Company has a 52-week low of $64.79 and a 52-week high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.13. Modine Manufacturing had a return on equity of 23.90% and a net margin of 7.21%.The firm had revenue of $682.80 million during the quarter, compared to the consensus estimate of $653.80 million. During the same period in the prior year, the business earned $1.04 EPS. The business's revenue for the quarter was up 3.2% on a year-over-year basis. 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.

Analyst Upgrades and Downgrades

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

Insider Activity at Modine Manufacturing

In other news, VP Brian Jon Agen sold 47,939 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $110.50, for a total transaction of $5,297,259.50. Following the transaction, the vice president owned 90,015 shares of the company's stock, valued at approximately $9,946,657.50. This represents a 34.75% 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 stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $140.47, for a total value of $5,678,078.34. Following the transaction, the executive vice president directly owned 41,920 shares in the company, valued at approximately $5,888,502.40. This represents a 49.09% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 239,938 shares of company stock worth $31,001,392. 2.48% of the stock is currently owned by corporate insiders.

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.