Nuveen LLC Acquires New Holdings in Modine Manufacturing Company $MOD

Key Points

• Nuveen LLC acquired a new stake in Modine Manufacturing Company valued at approximately $18.85 million, purchasing 245,638 shares during the first quarter.
• Insiders, including Director Marsha C. Williams and EVP Michael B. Lucareli, sold significant portions of their stock, with total insider sales amounting to $25.46 million in the last quarter.
• Analysts have varied opinions on Modine's stock, with KeyCorp raising its target price to $160 while Wall Street Zen downgraded it to a "hold" rating.

Nuveen LLC purchased a new stake in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 245,638 shares of the auto parts company's stock, valued at approximately $18,853,000. Nuveen LLC owned approximately 0.47% of Modine Manufacturing at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position 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 valued at $28,000 after purchasing an additional 142 shares in the last quarter. Bessemer Group Inc. increased its holdings in Modine Manufacturing by 9,728.6% during the first quarter. Bessemer Group Inc. now owns 3,440 shares of the auto parts company's stock worth $264,000 after buying an additional 3,405 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Modine Manufacturing by 159.7% during the first quarter. Janney Montgomery Scott LLC now owns 9,976 shares of the auto parts company's stock worth $766,000 after buying an additional 6,134 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in 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 worth $65,089,000 after buying an additional 672,960 shares during the last quarter. Finally, KBC Group NV increased its holdings in 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 last quarter. 95.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Modine Manufacturing

In related news, VP Brian Jon Agen sold 47,939 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $110.50, for a total transaction of $5,297,259.50. Following the completion of the transaction, the vice president owned 90,015 shares of the company's stock, valued at approximately $9,946,657.50. The trade was a 34.75% 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 business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $140.29, for a total transaction of $1,992,679.16. Following the transaction, the director directly owned 82,056 shares of the company's stock, valued at approximately $11,511,636.24. This represents a 14.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 214,765 shares of company stock worth $27,455,523 over the last three months. Company insiders own 2.48% of the company's stock.

Modine Manufacturing Stock Performance

Shares of MOD traded down $2.12 during trading hours on Monday, hitting $138.25. The company's stock had a trading volume of 533,435 shares, compared to its average volume of 1,278,998. The company has a market cap of $7.26 billion, a price-to-earnings ratio of 39.61, a PEG ratio of 0.89 and a beta of 2.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.06 and a quick ratio of 1.28. The business has a 50 day simple moving average of $112.84 and a two-hundred day simple moving average of $95.85. 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 posted its earnings results on Wednesday, July 30th. The auto parts company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.13. The firm had revenue of $682.80 million during the quarter, compared to the consensus estimate of $653.80 million. Modine Manufacturing had a net margin of 7.21% and a return on equity of 23.90%. The company's revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $1.04 earnings per share. Modine Manufacturing has set its FY 2026 guidance at EPS. On average, equities analysts expect that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

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.