Northern Trust Corp Reduces Stock Position in Modine Manufacturing Company $MOD

Key Points

• Northern Trust Corp has reduced its stake in Modine Manufacturing by 3.5%, selling 19,925 shares and now owning 549,709 shares worth approximately $42 million.
• Modine Manufacturing recently reported earnings of $1.06 EPS for the quarter, surpassing analyst expectations of $0.93 EPS, with a revenue of $682.8 million.
• Several institutional investors have elevated their stakes in Modine Manufacturing, including GAMMA Investing LLC with a 63.1% increase, reflecting a trend of growing institutional interest in the company.

Northern Trust Corp reduced its stake in Modine Manufacturing Company (NYSE:MOD - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 549,709 shares of the auto parts company's stock after selling 19,925 shares during the quarter. Northern Trust Corp owned approximately 1.05% of Modine Manufacturing worth $42,190,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MOD. Tower Research Capital LLC TRC grew its holdings in Modine Manufacturing by 51.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,439 shares of the auto parts company's stock valued at $283,000 after buying an additional 826 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Modine Manufacturing by 214.7% in the 4th quarter. Hsbc Holdings PLC now owns 9,026 shares of the auto parts company's stock valued at $1,059,000 after buying an additional 6,158 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Modine Manufacturing by 433.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 215,230 shares of the auto parts company's stock valued at $24,953,000 after buying an additional 174,862 shares in the last quarter. Comerica Bank lifted its holdings in Modine Manufacturing by 12.8% in the fourth quarter. Comerica Bank now owns 50,416 shares of the auto parts company's stock valued at $5,845,000 after acquiring an additional 5,735 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in Modine Manufacturing by 13.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,739 shares of the auto parts company's stock valued at $318,000 after acquiring an additional 315 shares during the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Modine Manufacturing Trading Down 4.4%

NYSE:MOD traded down $6.34 during trading hours on Friday, reaching $136.10. 655,433 shares of the stock were exchanged, compared to its average volume of 786,543. The company has a quick ratio of 1.28, a current ratio of 2.06 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average of $116.42 and a two-hundred day moving average of $97.07. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $146.84. The company has a market capitalization of $7.14 billion, a price-to-earnings ratio of 39.00, a PEG ratio of 0.86 and a beta of 2.09.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $1.06 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $653.80 million. During the same period in the prior year, the firm earned $1.04 earnings per share. The firm's revenue was up 3.2% compared to the same quarter last year. Modine Manufacturing has set its FY 2026 guidance at EPS. On average, equities analysts predict that Modine Manufacturing Company will post 3.88 EPS for the current year.

Insider Buying and Selling

In other news, Director Marsha C. Williams sold 25,761 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $134.77, for a total value of $3,471,809.97. Following the sale, the director directly owned 120,689 shares in the company, valued at approximately $16,265,256.53. This trade represents a 17.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Suresh V. Garimella sold 14,204 shares of the stock in a transaction on Friday, August 22nd. The shares were 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 in the company, valued at approximately $11,511,636.24. The trade was a 14.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 214,765 shares of company stock valued at $27,455,523 in the last three months. 2.48% of the stock is currently owned by insiders.

About Modine Manufacturing

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.