Bank of Montreal Can Sells 1,163 Shares of Modine Manufacturing Company $MOD

Bank of Montreal Can lessened its stake in shares of Modine Manufacturing Company (NYSE:MOD) by 21.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,207 shares of the auto parts company’s stock after selling 1,163 shares during the quarter. Bank of Montreal Can’s holdings in Modine Manufacturing were worth $414,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Maseco LLP acquired a new position in Modine Manufacturing during the 2nd quarter worth approximately $51,000. GAMMA Investing LLC lifted its holdings in shares of Modine Manufacturing by 52.6% in the second quarter. GAMMA Investing LLC now owns 560 shares of the auto parts company’s stock valued at $55,000 after purchasing an additional 193 shares in the last quarter. IFP Advisors Inc lifted 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 valued at $70,000 after purchasing an additional 113 shares in the last quarter. Roble Belko & Company Inc purchased a new position in Modine Manufacturing during the 2nd quarter worth $82,000. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Modine Manufacturing in the first quarter valued at about $92,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Modine Manufacturing Stock Up 1.9%

Shares of MOD opened at $130.94 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.06 and a quick ratio of 1.28. Modine Manufacturing Company has a 1 year low of $64.79 and a 1 year high of $166.94. The stock has a 50 day simple moving average of $149.84 and a two-hundred day simple moving average of $123.86. The firm has a market cap of $6.89 billion, a P/E ratio of 37.84, a P/E/G ratio of 0.98 and a beta of 2.07.

Modine Manufacturing (NYSE:MOD) last posted 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 net margin of 6.93% and a return on equity of 23.99%. The business had revenue of $738.90 million during the quarter, compared to the consensus estimate of $699.91 million. During the same period in the previous year, the firm posted $0.97 earnings per share. The firm’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. On average, analysts forecast that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Zacks Research cut shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Thursday, November 13th. KeyCorp increased their price target on shares of Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. DA Davidson boosted their price objective on Modine Manufacturing from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Wall Street Zen lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. 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, the company has an average rating of “Moderate Buy” and an average price target of $185.00.

Insider Buying and Selling

In other news, insider Eric S. Mcginnis sold 25,173 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $140.86, for a total transaction of $3,545,868.78. Following the completion of the transaction, the insider directly owned 19,966 shares of the company’s stock, valued at approximately $2,812,410.76. This represents a 55.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Suresh V. Garimella sold 14,204 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $140.29, for a total transaction of $1,992,679.16. Following the sale, the director owned 82,056 shares of the company’s stock, valued at approximately $11,511,636.24. This represents a 14.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.48% of the stock is owned by insiders.

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.