Modine Manufacturing (NYSE:MOD) Shares Up 10.1% – Here’s Why

Modine Manufacturing Company (NYSE:MOD)’s stock price rose 10.1% during mid-day trading on Wednesday . The company traded as high as $146.99 and last traded at $143.7330. Approximately 396,239 shares traded hands during trading, a decline of 65% from the average daily volume of 1,117,386 shares. The stock had previously closed at $130.57.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MOD shares. Wall Street Zen cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Thursday, November 13th. Oppenheimer increased their price target 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. KeyCorp upped their target price on shares of Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Finally, Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report 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 presently has an average rating of “Moderate Buy” and an average target price of $185.00.

Modine Manufacturing Price Performance

The company has a 50-day moving average of $149.84 and a 200-day moving average of $123.86. 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 stock has a market cap of $7.55 billion, a price-to-earnings ratio of 41.43, a PEG ratio of 0.98 and a beta of 2.07.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, October 28th. The auto parts company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.09. Modine Manufacturing had a return on equity of 23.99% and a net margin of 6.93%.The firm had revenue of $738.90 million during the quarter, compared to the consensus estimate of $699.91 million. During the same period last year, the company earned $0.97 earnings per share. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. Modine Manufacturing has set its FY 2026 guidance at EPS. As a group, equities research analysts predict that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Suresh V. Garimella sold 14,204 shares of Modine Manufacturing stock in a transaction 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 transaction, the director owned 82,056 shares in the company, valued at approximately $11,511,636.24. The trade was a 14.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eric S. Mcginnis sold 25,173 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was 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 owned 19,966 shares of the company’s stock, valued at approximately $2,812,410.76. This represents a 55.77% decrease in their position. The SEC filing for this sale provides additional information. 2.48% of the stock is currently owned by corporate insiders.

Institutional Trading of Modine Manufacturing

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Modine Manufacturing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 5,187,554 shares of the auto parts company’s stock worth $398,145,000 after purchasing an additional 128,587 shares during the last quarter. Wellington Management Group LLP increased its holdings in 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 buying an additional 1,841,640 shares during the last quarter. Wasatch Advisors LP increased its holdings in Modine Manufacturing by 1.4% in the second quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock valued at $176,553,000 after buying an additional 23,955 shares during the last quarter. State Street Corp raised its stake in Modine Manufacturing by 4.2% during the second quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock valued at $128,985,000 after buying an additional 53,351 shares in the last quarter. Finally, Capital Research Global Investors bought a new position in Modine Manufacturing during the 3rd quarter worth approximately $184,610,000. Institutional investors 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.