PDT Partners LLC Purchases 33,165 Shares of Modine Manufacturing Company $MOD

Key Points

• PDT Partners LLC significantly increased its holdings in Modine Manufacturing by 618.2% during Q1, owning approximately $2,957,000 worth of shares after acquiring an additional 33,165 shares.
• Several institutional investors have also raised their positions in Modine Manufacturing, with 95.23% of the company's stock now owned by hedge funds and other institutional investors.
• Modine Manufacturing recently reported an earnings per share of $1.06 for the last quarter, exceeding the consensus estimate of $0.93, and forecasting a continued positive outlook for the current fiscal year.

PDT Partners LLC raised its stake in Modine Manufacturing Company (NYSE:MOD - Free Report) by 618.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,530 shares of the auto parts company's stock after purchasing an additional 33,165 shares during the period. PDT Partners LLC owned approximately 0.07% of Modine Manufacturing worth $2,957,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Decade Renewable Partners LP bought a new position in shares of Modine Manufacturing during the first quarter valued at $4,478,000. Expect Equity LLC boosted its position in shares of Modine Manufacturing by 19.7% during the first quarter. Expect Equity LLC now owns 24,485 shares of the auto parts company's stock worth $1,879,000 after buying an additional 4,027 shares during the period. Situational Awareness LP boosted its position in Modine Manufacturing by 980.1% during the first quarter. Situational Awareness LP now owns 716,824 shares of the auto parts company's stock valued at $55,016,000 after purchasing an additional 650,457 shares during the last quarter. Trexquant Investment LP acquired a new position in Modine Manufacturing during the first quarter worth approximately $8,826,000. Finally, Champlain Investment Partners LLC acquired a new stake in Modine Manufacturing during the first quarter worth approximately $16,579,000. Institutional investors own 95.23% of the company's stock.

Modine Manufacturing Stock Performance

Modine Manufacturing stock traded down $0.65 during midday trading on Friday, reaching $135.34. 839,147 shares of the company traded hands, compared to its average volume of 643,070. Modine Manufacturing Company has a 12 month low of $64.79 and a 12 month high of $146.84. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of 38.78, a price-to-earnings-growth ratio of 0.86 and a beta of 2.09. The business has a 50 day moving average of $119.87 and a two-hundred day moving average of $98.55. 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 posted its quarterly 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 business had revenue of $682.80 million during the quarter, compared to the consensus estimate of $653.80 million. Modine Manufacturing had a return on equity of 23.90% and a net margin of 7.21%.The firm's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.04 EPS. Modine Manufacturing has set its FY 2026 guidance at EPS. As a group, research analysts predict that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

Insider Activity

In other news, insider Eric S. Mcginnis sold 25,173 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $140.86, for a total transaction of $3,545,868.78. Following the transaction, the insider owned 19,966 shares of the company's stock, valued at approximately $2,812,410.76. This represents a 55.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Marsha C. Williams sold 25,761 shares of Modine Manufacturing stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $134.77, for a total transaction of $3,471,809.97. Following the sale, the director directly owned 120,689 shares of the company's stock, valued at $16,265,256.53. This represents a 17.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 239,938 shares of company stock valued at $31,001,392. 2.48% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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