New England Research & Management Inc. Invests $608,000 in Modine Manufacturing Company $MOD

Key Points

• New England Research & Management Inc. has invested $608,000 in Modine Manufacturing Company by acquiring 6,175 shares in the second quarter, highlighting growing institutional interest in the company.
• Modine Manufacturing recently reported $1.06 earnings per share for the quarter, surpassing expectations and indicating a 3.2% year-over-year revenue growth.
• Despite a strong performance, Wall Street analysts have mixed views, with some rating the stock as a "hold" and others setting target prices ranging from $122.00 to $160.00.

New England Research & Management Inc. bought a new position in Modine Manufacturing Company (NYSE:MOD - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,175 shares of the auto parts company's stock, valued at approximately $608,000.

A number of other hedge funds have also added to or reduced their stakes in MOD. Cetera Investment Advisers increased its holdings in Modine Manufacturing by 3.0% in the fourth quarter. Cetera Investment Advisers now owns 9,616 shares of the auto parts company's stock worth $1,115,000 after purchasing an additional 282 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Modine Manufacturing by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,392 shares of the auto parts company's stock valued at $3,407,000 after acquiring an additional 1,146 shares during the period. Nuveen Asset Management LLC grew its stake in Modine Manufacturing by 9.8% in the fourth quarter. Nuveen Asset Management LLC now owns 343,407 shares of the auto parts company's stock valued at $39,811,000 after acquiring an additional 30,724 shares during the period. ProShare Advisors LLC grew its stake in Modine Manufacturing by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 14,547 shares of the auto parts company's stock valued at $1,686,000 after acquiring an additional 4,786 shares during the period. Finally, State of Wyoming grew its stake in Modine Manufacturing by 31.2% in the fourth quarter. State of Wyoming now owns 3,041 shares of the auto parts company's stock valued at $353,000 after acquiring an additional 723 shares during the period. 95.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MOD shares. Wall Street Zen cut Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Oppenheimer lifted 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. Finally, KeyCorp lifted their target price on Modine Manufacturing from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $145.67.

Modine Manufacturing Trading Up 1.9%

Shares of MOD stock opened at $152.52 on Tuesday. The stock has a market capitalization of $8.01 billion, a PE ratio of 43.70, a P/E/G ratio of 0.95 and a beta of 2.09. Modine Manufacturing Company has a 1-year low of $64.79 and a 1-year high of $155.73. The business has a 50-day moving average of $125.27 and a 200 day moving average of $101.18. 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 (NYSE:MOD - Get Free Report) last issued its earnings results on Wednesday, July 30th. The auto parts company reported $1.06 earnings per share for the quarter, beating 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 company had revenue of $682.80 million during the quarter, compared to analysts' expectations of $653.80 million. During the same period in the prior year, the business posted $1.04 EPS. Modine Manufacturing's quarterly revenue was up 3.2% compared to the same quarter last year. Modine Manufacturing has set its FY 2026 guidance at EPS. As a group, sell-side analysts anticipate that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

Insiders Place Their Bets

In other Modine Manufacturing news, insider Eric S. Mcginnis sold 25,173 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $140.86, for a total value of $3,545,868.78. Following the completion of the sale, the insider owned 19,966 shares in the company, valued at approximately $2,812,410.76. This trade represents a 55.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Suresh V. Garimella sold 14,204 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $140.29, for a total value of $1,992,679.16. Following the completion of the sale, the director owned 82,056 shares of the company's stock, valued at approximately $11,511,636.24. This trade represents a 14.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 239,938 shares of company stock worth $31,001,392. Insiders own 2.48% of the company's stock.

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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