Panoramic Capital LLC Sells 18,483 Shares of Modine Manufacturing Company $MOD

Key Points

• Panoramic Capital LLC reduced its stake in Modine Manufacturing Company by 42.4%, now holding a total of $1.93 million worth of shares, which makes up about 2.1% of its investment portfolio.
• Several institutional investors, including GAMMA Investing LLC and First Horizon Advisors Inc., significantly increased their holdings in Modine Manufacturing in the 1st quarter, indicating positive interest in the company.
• Modine Manufacturing's stock has received mixed ratings from analysts, with target prices ranging from $122.00 to $160.00, reflecting differing opinions on its potential performance.

Panoramic Capital LLC lessened its holdings in Modine Manufacturing Company (NYSE:MOD - Free Report) by 42.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,139 shares of the auto parts company's stock after selling 18,483 shares during the quarter. Modine Manufacturing accounts for approximately 2.1% of Panoramic Capital LLC's investment portfolio, making the stock its 17th biggest holding. Panoramic Capital LLC's holdings in Modine Manufacturing were worth $1,929,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in 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 acquiring an additional 142 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of 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 valued at $264,000 after buying an additional 3,405 shares during the last quarter. Janney Montgomery Scott LLC grew 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 buying an additional 6,134 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Modine Manufacturing by 384.3% in 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 in the last quarter. Finally, KBC Group NV raised its position 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 acquiring an additional 333 shares in the last quarter. Institutional investors own 95.23% of the company's stock.

Modine Manufacturing Stock Performance

NYSE:MOD traded down $4.14 during mid-day trading on Thursday, hitting $147.36. 947,627 shares of the stock were exchanged, compared to its average volume of 1,164,991. Modine Manufacturing Company has a fifty-two week low of $64.79 and a fifty-two week high of $154.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 2.06. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 42.22, a price-to-earnings-growth ratio of 0.88 and a beta of 2.09. The firm's 50-day simple moving average is $122.46 and its 200 day simple moving average is $99.58.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $682.80 million during the quarter, compared to analysts' expectations of $653.80 million. Modine Manufacturing had a net margin of 7.21% and a return on equity of 23.90%. The business's revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.04 EPS. Modine Manufacturing has set its FY 2026 guidance at EPS. As a group, equities analysts anticipate that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michael B. Lucareli sold 40,422 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $140.47, for a total transaction of $5,678,078.34. Following the completion of the sale, the executive vice president directly owned 41,920 shares in the company, valued at approximately $5,888,502.40. This represents a 49.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Suresh V. Garimella sold 14,204 shares of the stock in a transaction 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 sale, the director directly owned 82,056 shares in the company, valued at approximately $11,511,636.24. This trade represents a 14.76% 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 quarter. Company insiders own 2.48% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.