Modine Manufacturing (NYSE:MOD) Shares Down 5.6% - Here's What Happened

Key Points

• Modine Manufacturing's stock dropped 5.6% to $142.72, with trading volume down 47% compared to its average.
• Research analysts have mixed opinions: some upgraded the target price to $160.00 while others downgraded the stock from "buy" to "hold", resulting in a consensus rating of "Buy".
• Despite the stock drop, Modine posted better-than-expected quarterly earnings with an EPS of $1.06 compared to estimates of $0.93, showing a 3.2% year-over-year increase in revenue.

Modine Manufacturing Company (NYSE:MOD - Get Free Report) was down 5.6% during trading on Tuesday . The stock traded as low as $142.63 and last traded at $142.72. Approximately 610,812 shares were traded during trading, a decline of 47% from the average daily volume of 1,150,265 shares. The stock had previously closed at $151.23.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MOD shares. KeyCorp lifted 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. Oppenheimer lifted their target price on Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Finally, Wall Street Zen downgraded 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, Based on data from MarketBeat.com, Modine Manufacturing has a consensus rating of "Buy" and an average target price of $145.67.

Modine Manufacturing Price Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 2.06. The company has a market cap of $7.67 billion, a price-to-earnings ratio of 41.87, a PEG ratio of 0.98 and a beta of 2.09. The business has a fifty day moving average price of $131.21 and a 200 day moving average price of $103.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly 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 return on equity of 23.90% and a net margin of 7.21%.The company had revenue of $682.80 million during the quarter, compared to analysts' expectations of $653.80 million. During the same quarter in the previous year, the firm earned $1.04 EPS. Modine Manufacturing's revenue was up 3.2% on a year-over-year basis. Modine Manufacturing has set its FY 2026 guidance at EPS. As a group, research analysts anticipate that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

Insider Activity at Modine Manufacturing

In other news, VP Brian Jon Agen sold 47,939 shares of the business's stock in a transaction 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 completion of the transaction, the vice president owned 90,015 shares of the company's stock, valued at approximately $9,946,657.50. The trade was a 34.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael B. Lucareli sold 80,661 shares of the business's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $128.33, for a total value of $10,351,226.13. Following the transaction, the executive vice president directly owned 66,920 shares of the company's stock, valued at $8,587,843.60. This trade represents a 54.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 239,938 shares of company stock worth $31,001,392 in the last three months. Insiders own 2.48% of the company's stock.

Hedge Funds Weigh In On Modine Manufacturing

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Handelsbanken Fonder AB lifted its stake in Modine Manufacturing by 0.8% during the second quarter. Handelsbanken Fonder AB now owns 13,100 shares of the auto parts company's stock worth $1,290,000 after purchasing an additional 100 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Modine Manufacturing by 5.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,006 shares of the auto parts company's stock worth $154,000 after purchasing an additional 105 shares during the last quarter. IFP Advisors Inc grew its holdings 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 worth $70,000 after purchasing an additional 113 shares during the last quarter. GAMMA Investing LLC grew its holdings 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 worth $28,000 after purchasing an additional 142 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of Modine Manufacturing by 3.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,602 shares of the auto parts company's stock worth $453,000 after purchasing an additional 165 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company's stock.

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.

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