Zimmer Partners LP Takes Position in Modine Manufacturing Company $MOD

Key Points

• Zimmer Partners LP has invested $768,000 in Modine Manufacturing Company by acquiring 10,000 shares during the first quarter, as indicated in their recent SEC filing.
• Several hedge funds have significantly increased their stakes in Modine Manufacturing, with Vanguard Group raising its stake by 2.5% and Wellington Management Group increasing by 293.7% in the same period.
• Modine Manufacturing reported earnings of $1.06 per share for the last quarter, surpassing analysts' expectations of $0.93, along with a revenue of $682.80 million, up 3.2% from the previous year.

Zimmer Partners LP purchased a new stake in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,000 shares of the auto parts company's stock, valued at approximately $768,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Modine Manufacturing by 2.5% in the first quarter. Vanguard Group Inc. now owns 5,187,554 shares of the auto parts company's stock valued at $398,145,000 after purchasing an additional 128,587 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Modine Manufacturing by 293.7% during the 1st quarter. Wellington Management Group LLP now owns 2,468,788 shares of the auto parts company's stock worth $189,479,000 after purchasing an additional 1,841,640 shares during the last quarter. Reinhart Partners LLC. raised its holdings in Modine Manufacturing by 187.3% in the 1st quarter. Reinhart Partners LLC. now owns 875,834 shares of the auto parts company's stock valued at $67,220,000 after acquiring an additional 571,026 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 valued at $65,089,000 after acquiring an additional 672,960 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its holdings in Modine Manufacturing by 27.3% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 842,379 shares of the auto parts company's stock valued at $64,653,000 after acquiring an additional 180,539 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company's stock.

Modine Manufacturing Stock Performance

Shares of NYSE:MOD traded up $4.63 during trading on Monday, reaching $154.31. 312,785 shares of the stock were exchanged, compared to its average volume of 1,157,036. The stock has a 50-day moving average price of $124.22 and a 200-day moving average price of $100.71. The firm has a market cap of $8.10 billion, a PE ratio of 44.21, a PEG ratio of 0.95 and a beta of 2.09. Modine Manufacturing Company has a 12 month low of $64.79 and a 12 month high of $155.73. 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 issued its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.13. Modine Manufacturing had a return on equity of 23.90% and a net margin of 7.21%.The business had revenue of $682.80 million during the quarter, compared to analysts' expectations of $653.80 million. During the same period in the previous year, the company posted $1.04 earnings per share. The firm's revenue for the quarter was up 3.2% compared to the same quarter last year. Modine Manufacturing has set its FY 2026 guidance at EPS. Research analysts expect that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Eric S. Mcginnis sold 25,173 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $140.86, for a total value of $3,545,868.78. Following the completion of the transaction, the insider directly owned 19,966 shares of the company's stock, valued at approximately $2,812,410.76. This trade represents a 55.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Suresh V. Garimella sold 14,204 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was 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 approximately $11,511,636.24. This trade represents a 14.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 239,938 shares of company stock worth $31,001,392 over the last ninety days. Insiders own 2.48% of the company's stock.

Analyst Ratings Changes

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