Public Employees Retirement System of Ohio Reduces Stock Position in Modine Manufacturing Company $MOD

Public Employees Retirement System of Ohio cut its stake in Modine Manufacturing Company (NYSE:MOD) by 74.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 393 shares of the auto parts company’s stock after selling 1,130 shares during the period. Public Employees Retirement System of Ohio’s holdings in Modine Manufacturing were worth $39,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased 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 valued at $28,000 after buying an additional 142 shares in the last quarter. Maseco LLP purchased a new position in Modine Manufacturing in the second quarter valued at about $51,000. First Horizon Advisors Inc. increased its holdings in Modine Manufacturing by 442.4% in the first quarter. First Horizon Advisors Inc. now owns 640 shares of the auto parts company’s stock valued at $49,000 after buying an additional 522 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Modine Manufacturing by 14.2% during the 1st quarter. IFP Advisors Inc now owns 911 shares of the auto parts company’s stock worth $70,000 after purchasing an additional 113 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Modine Manufacturing during the 1st quarter worth approximately $92,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Modine Manufacturing

In other Modine Manufacturing news, Director Suresh V. Garimella sold 14,204 shares of the business’s 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 transaction, the director owned 82,056 shares in the company, valued at $11,511,636.24. The trade was a 14.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $10,351,226.13. Following the completion of the transaction, the executive vice president owned 66,920 shares in the company, valued at $8,587,843.60. This represents a 54.66% decrease in their position. 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 three months. Insiders own 2.48% of the company’s stock.

Modine Manufacturing Stock Performance

NYSE:MOD opened at $149.75 on Wednesday. The company has a current ratio of 2.06, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $7.86 billion, a price-to-earnings ratio of 42.91, a PEG ratio of 0.98 and a beta of 2.06. The firm’s fifty day simple moving average is $141.39 and its 200 day simple moving average is $108.32. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $159.54.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Wednesday, July 30th. The auto parts company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.13. The business had revenue of $682.80 million for the quarter, compared to analyst estimates of $653.80 million. Modine Manufacturing had a net margin of 7.21% and a return on equity of 23.90%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.04 EPS. Modine Manufacturing has set its FY 2026 guidance at EPS. As a group, equities research analysts expect that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MOD shares. KeyCorp raised their price objective on shares of Modine Manufacturing from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. DA Davidson reissued a “buy” rating and set a $185.00 price objective on shares of Modine Manufacturing in a research note on Monday, September 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Modine Manufacturing in a research note on Saturday, September 27th. Zacks Research cut shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Oppenheimer lifted their target price on shares of Modine Manufacturing from $121.00 to $122.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 1st. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Modine Manufacturing presently has an average rating of “Moderate Buy” and a consensus target price of $155.67.

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.