Modine Manufacturing Company $MOD Shares Sold by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management sold 1,728 shares of Modine Manufacturing, reducing its holdings by 10.6%, valuing the remaining shares at approximately $1.44 million.
• Insider trading activity includes significant sales, with VP Brian Jon Agen selling 47,939 shares and EVP Michael B. Lucareli selling 80,661 shares, indicating a decrease of ownership by 34.75% and 54.66%, respectively.
• Modine Manufacturing reported earnings of $1.06 per share, exceeding analysts' expectations, while Oppenheimer upgraded its target price for the stock from $145 to $180.

Ritholtz Wealth Management decreased its holdings in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 10.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,632 shares of the auto parts company's stock after selling 1,728 shares during the period. Ritholtz Wealth Management's holdings in Modine Manufacturing were worth $1,441,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of Modine Manufacturing by 63.1% during the first 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 period. Maseco LLP acquired a new stake in shares of Modine Manufacturing during the second quarter worth about $51,000. First Horizon Advisors Inc. boosted its stake in shares of Modine Manufacturing by 442.4% during the first quarter. First Horizon Advisors Inc. now owns 640 shares of the auto parts company's stock worth $49,000 after buying an additional 522 shares during the period. IFP Advisors Inc boosted its stake in shares of Modine Manufacturing by 14.2% during the first 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 period. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Modine Manufacturing during the first quarter worth about $92,000. Institutional investors and hedge funds own 95.23% of the company's stock.

Insider Buying and Selling

In other Modine Manufacturing news, VP Brian Jon Agen sold 47,939 shares of the 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 of the company's stock, valued at approximately $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 accessible through the SEC website. Also, EVP Michael B. Lucareli sold 80,661 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $128.33, for a total transaction of $10,351,226.13. Following the completion of the transaction, the executive vice president directly owned 66,920 shares of the company's stock, valued at approximately $8,587,843.60. This trade represents a 54.66% 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 in the last 90 days. 2.48% of the stock is owned by corporate insiders.

Modine Manufacturing Trading Down 4.2%

Shares of Modine Manufacturing stock opened at $153.65 on Friday. Modine Manufacturing Company has a 12-month low of $64.79 and a 12-month high of $164.89. 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 market cap of $8.07 billion, a PE ratio of 44.03, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The company has a 50-day moving average of $144.61 and a two-hundred day moving average of $111.98.

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

Wall Street Analyst Weigh In

MOD has been the subject of several recent research reports. Oppenheimer increased their target price on shares of Modine Manufacturing from $145.00 to $180.00 and gave the stock an "outperform" rating in a research note on Tuesday. Wall Street Zen downgraded shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. DA Davidson restated a "buy" rating and issued a $185.00 price objective on shares of Modine Manufacturing in a research report on Monday, September 29th. KeyCorp raised their price objective on shares of Modine Manufacturing from $160.00 to $175.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Modine Manufacturing in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $180.00.

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.

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