Convergence Investment Partners LLC Makes New Investment in Modine Manufacturing Company $MOD

Convergence Investment Partners LLC purchased a new position in shares of Modine Manufacturing Company (NYSE:MOD) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,187 shares of the auto parts company’s stock, valued at approximately $314,000.

Several other institutional investors and hedge funds have also modified their holdings of MOD. GAMMA Investing LLC boosted its holdings in 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 in the last quarter. Bessemer Group Inc. boosted its stake in shares of 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 in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of 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 valued at $766,000 after acquiring an additional 6,134 shares during the last quarter. Bank of New York Mellon Corp raised 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 acquiring an additional 672,960 shares in the last quarter. Finally, KBC Group NV lifted 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 during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

Shares of Modine Manufacturing stock opened at $163.45 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.06 and a quick ratio of 1.28. The company has a market cap of $8.58 billion, a PE ratio of 46.83, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. The firm has a fifty day moving average price of $146.68 and a two-hundred day moving average price of $115.85. Modine Manufacturing Company has a fifty-two week low of $64.79 and a fifty-two week high of $164.89.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data 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. Modine Manufacturing had a net margin of 7.21% and a return on equity of 23.90%. The business had revenue of $682.80 million during the quarter, compared to analyst estimates of $653.80 million. During the same quarter in the prior year, the business earned $1.04 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. Modine Manufacturing has set its FY 2026 guidance at EPS. Analysts expect that Modine Manufacturing Company will post 3.88 EPS for the current year.

Insider Transactions at Modine Manufacturing

In other news, Director Marsha C. Williams sold 25,761 shares of Modine Manufacturing stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $134.77, for a total transaction of $3,471,809.97. Following the sale, the director owned 120,689 shares of the company’s stock, valued at approximately $16,265,256.53. This trade represents a 17.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael B. Lucareli sold 40,422 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $140.47, for a total value of $5,678,078.34. Following the sale, the executive vice president owned 41,920 shares in the company, valued at approximately $5,888,502.40. This represents a 49.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 186,221 shares of company stock worth $25,039,662 over the last 90 days. Insiders own 2.48% of the company’s stock.

Analysts Set New Price Targets

MOD has been the topic of several analyst reports. DA Davidson set a $185.00 price target on Modine Manufacturing in a report on Friday. KeyCorp raised their target price on shares of Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Oppenheimer boosted their target price on shares of Modine Manufacturing from $145.00 to $180.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 14th. Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Modine Manufacturing currently has an average rating of “Moderate Buy” and a consensus price target of $180.00.

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.