Price T Rowe Associates Inc. MD Has $38.28 Million Position in Modine Manufacturing Company $MOD

Key Points

• Price T Rowe Associates Inc. MD significantly increased its stake in Modine Manufacturing Company by 131.7%, owning about $38.28 million worth of shares following the purchase of an additional 283,497 shares.
• Several institutional investors have also raised their positions in Modine Manufacturing, with notable increases of 442.4% by First Horizon Advisors Inc. and 245.9% by Versant Capital Management Inc. during the same period.
• Modine Manufacturing reported earnings of $1.06 per share for the last quarter, exceeding analysts' expectations of $0.93, along with a revenue of $682.80 million, up 3.2% year-over-year.

Price T Rowe Associates Inc. MD grew its holdings in Modine Manufacturing Company (NYSE:MOD - Free Report) by 131.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 498,727 shares of the auto parts company's stock after purchasing an additional 283,497 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.95% of Modine Manufacturing worth $38,278,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC grew its position 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 buying an additional 142 shares in the last quarter. Versant Capital Management Inc grew its position in Modine Manufacturing by 245.9% during the first quarter. Versant Capital Management Inc now owns 422 shares of the auto parts company's stock worth $32,000 after buying an additional 300 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in Modine Manufacturing during the first quarter worth about $46,000. First Horizon Advisors Inc. grew its position in Modine Manufacturing by 442.4% during the first quarter. First Horizon Advisors Inc. now owns 640 shares of the auto parts company's stock worth $49,000 after buying an additional 522 shares in the last quarter. Finally, IFP Advisors Inc grew its position in Modine Manufacturing by 14.2% during the first quarter. IFP Advisors Inc now owns 911 shares of the auto parts company's stock worth $70,000 after buying an additional 113 shares in the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Modine Manufacturing

In other news, VP Brian Jon Agen sold 47,939 shares of Modine Manufacturing stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $110.50, for a total value of $5,297,259.50. Following the completion of the transaction, the vice president owned 90,015 shares in the company, valued at approximately $9,946,657.50. The trade was a 34.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Suresh V. Garimella sold 14,204 shares of Modine Manufacturing 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 completion of the transaction, the director owned 82,056 shares of the company's stock, valued at $11,511,636.24. This trade 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 in the last three months. 2.48% of the stock is currently owned by company insiders.

Modine Manufacturing Stock Down 0.5%

Shares of MOD opened at $140.80 on Thursday. The stock has a market cap of $7.39 billion, a price-to-earnings ratio of 40.34, a P/E/G ratio of 0.90 and a beta of 2.12. The company has a quick ratio of 1.28, a current ratio of 2.06 and a debt-to-equity ratio of 0.47. Modine Manufacturing Company has a 12 month low of $64.79 and a 12 month high of $146.84. The company has a 50-day moving average price of $114.70 and a two-hundred day moving average price of $96.48.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced 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. The firm 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 company's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.04 earnings per share. Modine Manufacturing has set its FY 2026 guidance at EPS. Equities analysts predict that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MOD has been the topic of a number of recent research reports. Wall Street Zen downgraded Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. KeyCorp lifted their target price on Modine Manufacturing from $150.00 to $160.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Finally, Oppenheimer lifted their target price on Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently 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.

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