Modine Manufacturing (NYSE:MOD) Shares Down 12.6% – Here’s What Happened

Modine Manufacturing Company (NYSE:MOD)’s stock price fell 12.6% on Thursday . The company traded as low as $129.36 and last traded at $128.8250. 1,376,290 shares changed hands during mid-day trading, an increase of 24% from the average session volume of 1,110,213 shares. The stock had previously closed at $147.40.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MOD shares. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a report on Thursday. DA Davidson lifted 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. Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Oppenheimer raised their target price on Modine Manufacturing from $145.00 to $180.00 and gave the stock an “outperform” rating in a report on Tuesday, October 14th. Finally, Zacks Research cut Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Modine Manufacturing currently has an average rating of “Moderate Buy” and an average price target of $185.00.

Modine Manufacturing Stock Up 2.8%

The company has a market cap of $6.97 billion, a price-to-earnings ratio of 38.24, a PEG ratio of 0.98 and a beta of 2.07. The business has a fifty day moving average of $150.20 and a two-hundred day moving average of $122.99. The company has a current ratio of 2.06, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47.

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

Insider Activity

In related news, insider Eric S. Mcginnis sold 25,173 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $140.86, for a total value of $3,545,868.78. Following the transaction, the insider directly owned 19,966 shares of the company’s stock, valued at approximately $2,812,410.76. This trade represents a 55.77% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Suresh V. Garimella sold 14,204 shares of Modine Manufacturing stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $140.29, for a total value of $1,992,679.16. Following the completion of the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.48% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MOD. Vanguard Group Inc. boosted its stake in Modine Manufacturing by 2.5% during 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 boosted its position in Modine Manufacturing by 293.7% during the first quarter. Wellington Management Group LLP now owns 2,468,788 shares of the auto parts company’s stock worth $189,479,000 after acquiring an additional 1,841,640 shares during the last quarter. Wasatch Advisors LP grew its stake in Modine Manufacturing by 1.4% during the 2nd quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock valued at $176,553,000 after acquiring an additional 23,955 shares in the last quarter. State Street Corp raised its holdings in Modine Manufacturing by 4.2% in the 2nd quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock valued at $128,985,000 after acquiring an additional 53,351 shares during the last quarter. Finally, Capital Research Global Investors purchased a new position in Modine Manufacturing in the 3rd quarter worth approximately $184,610,000. 95.23% of the stock is owned by institutional investors and hedge funds.

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.