Modine Manufacturing (NYSE:MOD) Reaches New 1-Year High - Here's What Happened

Key Points

• Modine Manufacturing shares reached a new one-year high of $154.00 during trading, reflecting a notable increase from a previous close of $138.52.
• Analyst ratings are mixed, with KeyCorp raising its price target to $160 and initiating an "overweight" rating, while Wall Street Zen downgraded the stock from "buy" to "hold."
• The company reported Q2 earnings of $1.06 per share, exceeding estimates of $0.93, and achieved revenues of $682.8 million, marking a 3.2% increase year-over-year.

Modine Manufacturing Company (NYSE:MOD - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $154.00 and last traded at $150.10, with a volume of 375189 shares traded. The stock had previously closed at $138.52.

Analyst Upgrades and Downgrades

MOD has been the subject of several recent research reports. KeyCorp increased their target price on shares of Modine Manufacturing from $150.00 to $160.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Wall Street Zen cut shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Oppenheimer increased their target price on shares of Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $145.67.

Modine Manufacturing Trading Up 7.9%

The stock has a market cap of $7.85 billion, a price-to-earnings ratio of 42.80, a PEG ratio of 0.88 and a beta of 2.09. The company has a quick ratio of 1.28, a current ratio of 2.06 and a debt-to-equity ratio of 0.47. The business's 50 day simple moving average is $121.48 and its 200 day simple moving average is $99.22.

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, beating 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 posted $1.04 earnings per share. Modine Manufacturing has set its FY 2026 guidance at EPS. On average, research analysts expect that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Insider Transactions at Modine Manufacturing

In other Modine Manufacturing news, Director Suresh V. Garimella sold 14,204 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $140.29, for a total value of $1,992,679.16. Following the completion of the sale, the director owned 82,056 shares in the company, valued at $11,511,636.24. This trade represents a 14.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Brian Jon Agen sold 47,939 shares of the stock in a transaction dated 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 transaction, the vice president directly owned 90,015 shares in the company, valued at $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. Over the last quarter, insiders have sold 239,938 shares of company stock valued at $31,001,392. 2.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Modine Manufacturing

Several large investors have recently modified their holdings of MOD. Wellington Management Group LLP raised its position in shares of Modine Manufacturing by 293.7% in the first quarter. Wellington Management Group LLP now owns 2,468,788 shares of the auto parts company's stock valued at $189,479,000 after purchasing an additional 1,841,640 shares during the period. Bank of New York Mellon Corp raised its position in shares of Modine Manufacturing by 384.3% in the first 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 period. Situational Awareness LP raised its position in shares of Modine Manufacturing by 980.1% in the first quarter. Situational Awareness LP now owns 716,824 shares of the auto parts company's stock valued at $55,016,000 after purchasing an additional 650,457 shares during the period. Reinhart Partners LLC. raised its position in shares of Modine Manufacturing by 187.3% in the first quarter. Reinhart Partners LLC. now owns 875,834 shares of the auto parts company's stock valued at $67,220,000 after purchasing an additional 571,026 shares during the period. Finally, Champlain Investment Partners LLC raised its position in shares of Modine Manufacturing by 244.3% in the second quarter. Champlain Investment Partners LLC now owns 743,643 shares of the auto parts company's stock valued at $73,249,000 after purchasing an additional 527,626 shares during the period. 95.23% of the stock is owned by institutional investors.

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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