Russell Investments Group Ltd. Trims Stock Holdings in Modine Manufacturing Company $MOD

Key Points

• Russell Investments Group Ltd. has reduced its stake in Modine Manufacturing Company by 41.9%, now owning approximately 52,114 shares valued at around $4 million.
• Other institutional investors have increased their positions, with GAMMA Investing LLC and Versant Capital Management Inc. raising their holdings by 63.1% and 245.9%, respectively.
• Analysts have recently downgraded Modine Manufacturing from a "buy" to a "hold" rating, while KeyCorp and Oppenheimer have increased their price targets to $160 and $122, respectively.

Russell Investments Group Ltd. decreased its holdings in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 41.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,114 shares of the auto parts company's stock after selling 37,625 shares during the quarter. Russell Investments Group Ltd. owned about 0.10% of Modine Manufacturing worth $4,000,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Modine Manufacturing by 63.1% in the first quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock valued at $28,000 after acquiring an additional 142 shares during the period. Versant Capital Management Inc raised its stake in shares of Modine Manufacturing by 245.9% in the first quarter. Versant Capital Management Inc now owns 422 shares of the auto parts company's stock valued at $32,000 after acquiring an additional 300 shares during the period. Central Pacific Bank Trust Division purchased a new stake in shares of Modine Manufacturing in the first quarter valued at $46,000. First Horizon Advisors Inc. raised its stake in shares of Modine Manufacturing by 442.4% in the first quarter. First Horizon Advisors Inc. now owns 640 shares of the auto parts company's stock valued at $49,000 after acquiring an additional 522 shares during the period. Finally, IFP Advisors Inc raised its stake in shares of Modine Manufacturing by 14.2% in the first quarter. IFP Advisors Inc now owns 911 shares of the auto parts company's stock valued at $70,000 after acquiring an additional 113 shares during the period. Hedge funds and other institutional investors own 95.23% of the company's stock.

Insider Activity

In other news, 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 directly owned 82,056 shares of the company's stock, valued at $11,511,636.24. The trade was a 14.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian Jon Agen sold 47,939 shares of Modine Manufacturing stock in a transaction 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 sale, the vice president directly owned 90,015 shares in the company, valued at $9,946,657.50. This represents a 34.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 214,765 shares of company stock valued at $27,455,523 in the last quarter. Company insiders own 2.48% of the company's stock.

Modine Manufacturing Stock Performance

MOD traded up $2.17 during trading on Thursday, reaching $142.59. 649,160 shares of the company's stock were exchanged, compared to its average volume of 1,046,533. Modine Manufacturing Company has a 1 year low of $64.79 and a 1 year high of $146.84. 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 stock has a market capitalization of $7.48 billion, a P/E ratio of 40.86, a price-to-earnings-growth ratio of 0.89 and a beta of 2.12. The company's fifty day simple moving average is $115.64 and its 200-day simple moving average is $96.78.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.13. The company had revenue of $682.80 million during the quarter, compared to analyst estimates of $653.80 million. Modine Manufacturing had a net margin of 7.21% and a return on equity of 23.90%. Modine Manufacturing's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the firm 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 fiscal year.

Analyst Upgrades and Downgrades

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