Raymond James Financial Inc. Has $12.23 Million Stock Holdings in Modine Manufacturing Company $MOD

Key Points

• Raymond James Financial Inc. reduced its stake in Modine Manufacturing Company by 6.3% in the first quarter, selling 10,776 shares, and now holds approximately 0.30% of the company valued at $12.2 million.
• Modine Manufacturing reported $1.06 earnings per share for the most recent quarter, exceeding analysts' expectations by $0.13.
• Insider trading activity included Vice President Brian Jon Agen selling 47,939 shares for $5.3 million, reducing his ownership by 34.75%.

Raymond James Financial Inc. cut its stake in Modine Manufacturing Company (NYSE:MOD - Free Report) by 6.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 159,312 shares of the auto parts company's stock after selling 10,776 shares during the period. Raymond James Financial Inc. owned 0.30% of Modine Manufacturing worth $12,227,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Modine Manufacturing by 63.1% in the 1st quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock worth $28,000 after acquiring an additional 142 shares during the period. Bessemer Group Inc. grew its position in Modine Manufacturing by 9,728.6% in the 1st quarter. Bessemer Group Inc. now owns 3,440 shares of the auto parts company's stock worth $264,000 after purchasing an additional 3,405 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Modine Manufacturing by 159.7% in the first quarter. Janney Montgomery Scott LLC now owns 9,976 shares of the auto parts company's stock valued at $766,000 after purchasing an additional 6,134 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Modine Manufacturing by 384.3% during 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 last quarter. Finally, KBC Group NV boosted its position in shares of Modine Manufacturing by 16.0% during the first quarter. KBC Group NV now owns 2,411 shares of the auto parts company's stock worth $185,000 after buying an additional 333 shares during the period. Institutional investors and hedge funds own 95.23% of the company's stock.

Modine Manufacturing Price Performance

MOD stock traded down $0.42 on Wednesday, hitting $133.53. 300,323 shares of the company's stock traded hands, compared to its average volume of 1,174,915. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 38.23, a P/E/G ratio of 0.86 and a beta of 2.09. Modine Manufacturing Company has a 1-year low of $64.79 and a 1-year high of $146.84. The company has a current ratio of 2.06, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average of $117.88 and a 200-day moving average of $97.63.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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%.The firm's revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 earnings per share. Modine Manufacturing has set its FY 2026 guidance at EPS. On average, analysts forecast that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on MOD. Oppenheimer raised their target price on Modine Manufacturing from $121.00 to $122.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. 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, 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 equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Modine Manufacturing has a consensus rating of "Buy" and a consensus target price of $145.67.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, VP Brian Jon Agen sold 47,939 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $110.50, for a total value of $5,297,259.50. Following the completion of the transaction, the vice president directly owned 90,015 shares in the company, valued at $9,946,657.50. This trade represents a 34.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Eric S. Mcginnis sold 25,173 shares of Modine Manufacturing stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $140.86, for a total transaction of $3,545,868.78. Following the completion of the transaction, the insider directly owned 19,966 shares in the company, valued at approximately $2,812,410.76. This trade represents a 55.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 239,938 shares of company stock valued at $31,001,392 over the last 90 days. 2.48% of the stock is owned by insiders.

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.