Synovus Financial Corp Purchases Shares of 7,844 Modine Manufacturing Company $MOD

Key Points

• Synovus Financial Corp recently acquired a stake in Modine Manufacturing Company, purchasing 7,844 shares valued at approximately $602,000.
• Institutional investors significantly increased their positions in Modine, with Bank of New York Mellon Corp boosting its holdings by 384.3% in the first quarter.
• Analysts have mixed opinions on Modine's stock, with a recent downgrade from "buy" to "hold" by Wall Street Zen, while Oppenheimer and KeyCorp raised their price targets, reflecting a consensus rating of "Buy".

Synovus Financial Corp acquired a new position in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,844 shares of the auto parts company's stock, valued at approximately $602,000.

Several other large investors have also recently bought and sold shares of MOD. GAMMA Investing LLC raised its stake in shares of Modine Manufacturing by 63.1% in the 1st quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock valued at $28,000 after buying an additional 142 shares in the last quarter. Bessemer Group Inc. grew its holdings in Modine Manufacturing by 9,728.6% during the 1st quarter. Bessemer Group Inc. now owns 3,440 shares of the auto parts company's stock worth $264,000 after acquiring an additional 3,405 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Modine Manufacturing by 159.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,976 shares of the auto parts company's stock worth $766,000 after acquiring an additional 6,134 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Modine Manufacturing by 384.3% in the 1st 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 purchasing an additional 672,960 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Modine Manufacturing by 16.0% in the 1st quarter. KBC Group NV now owns 2,411 shares of the auto parts company's stock valued at $185,000 after acquiring an additional 333 shares during the period. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Modine Manufacturing Stock Down 4.4%

Shares of NYSE:MOD traded down $6.34 during trading on Friday, reaching $136.10. 655,433 shares of the stock were exchanged, compared to its average volume of 786,543. 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 Company has a 1-year low of $64.79 and a 1-year high of $146.84. The stock has a fifty day moving average of $116.42 and a two-hundred day moving average of $97.07. The firm has a market cap of $7.14 billion, a price-to-earnings ratio of 39.00, a price-to-earnings-growth ratio of 0.86 and a beta of 2.09.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 23.90% and a net margin of 7.21%.The business's revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 EPS. Modine Manufacturing has set its FY 2026 guidance at EPS. Research analysts anticipate that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Modine Manufacturing news, Director Marsha C. Williams sold 25,761 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $134.77, for a total value of $3,471,809.97. Following the sale, the director directly owned 120,689 shares of the company's stock, valued at approximately $16,265,256.53. The trade was a 17.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Brian Jon Agen sold 47,939 shares of the company's stock in a transaction 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 transaction, the vice president directly 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 disclosure for this sale can be found here. Insiders sold 214,765 shares of company stock valued at $27,455,523 over the last quarter. Company insiders own 2.48% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MOD. Oppenheimer raised their price target on shares of Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. KeyCorp boosted their target price on 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 cut Modine Manufacturing from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Three analysts have rated the stock with a Buy rating, According to MarketBeat, Modine Manufacturing has a consensus rating of "Buy" and a consensus target price of $145.67.

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.