Wellington Management Group LLP Buys 1,841,640 Shares of Modine Manufacturing Company $MOD

Key Points

• Wellington Management Group LLP significantly increased its stake in Modine Manufacturing by 293.7% in Q1, acquiring an additional 1.84 million shares to own approximately 4.70% of the company, valued at $189.5 million.
• Analysts have adjusted their price targets for Modine Manufacturing, with Oppenheimer raising it to $122.00 and KeyCorp increasing it to $160.00, reflecting positive market sentiment.
• Insider activity saw substantial share sales, including Director Marsha C. Williams selling 25,761 shares for approximately $3.47 million, indicative of potential shifts in management confidence.

Wellington Management Group LLP boosted its position in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 293.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,468,788 shares of the auto parts company's stock after buying an additional 1,841,640 shares during the quarter. Wellington Management Group LLP owned approximately 4.70% of Modine Manufacturing worth $189,479,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Modine Manufacturing by 63.1% in the 1st quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock worth $28,000 after purchasing an additional 142 shares in the last quarter. Bessemer Group Inc. raised its holdings in 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 worth $264,000 after purchasing an additional 3,405 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Modine Manufacturing by 159.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,976 shares of the auto parts company's stock worth $766,000 after purchasing an additional 6,134 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in 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 worth $65,089,000 after purchasing an additional 672,960 shares in the last quarter. Finally, KBC Group NV raised its holdings in Modine Manufacturing by 16.0% in the 1st quarter. KBC Group NV now owns 2,411 shares of the auto parts company's stock worth $185,000 after purchasing an additional 333 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. KeyCorp increased 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. Oppenheimer increased their price objective 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. Finally, Wall Street Zen downgraded shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $145.67.

Modine Manufacturing Stock Performance

NYSE MOD traded up $3.71 on Tuesday, reaching $141.83. 811,476 shares of the stock were exchanged, compared to its average volume of 1,256,902. Modine Manufacturing Company has a one year low of $64.79 and a one year high of $146.84. The firm has a market capitalization of $7.44 billion, a PE ratio of 40.64, a PEG ratio of 0.88 and a beta of 2.12. The company's 50-day simple moving average is $113.80 and its two-hundred day simple moving average is $96.17. The company has a current ratio of 2.06, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its 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. Modine Manufacturing had a net margin of 7.21% and a return on equity of 23.90%. The company had revenue of $682.80 million for the quarter, compared to analysts' expectations of $653.80 million. During the same quarter last year, the business earned $1.04 EPS. The firm's revenue was up 3.2% compared to the same quarter last year. Modine Manufacturing has set its FY 2026 guidance at EPS. Analysts expect that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Insider Activity

In other Modine Manufacturing news, Director Suresh V. Garimella sold 14,204 shares of the firm's 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 sale, the director owned 82,056 shares in the company, valued at approximately $11,511,636.24. This trade represents a 14.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian Jon Agen sold 47,939 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $110.50, for a total transaction of $5,297,259.50. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 214,765 shares of company stock worth $27,455,523 in the last quarter. 2.48% of the stock is currently owned by insiders.

Modine Manufacturing 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.