D.A. Davidson & CO. Sells 5,705 Shares of Modine Manufacturing Company $MOD

D.A. Davidson & CO. decreased its position in Modine Manufacturing Company (NYSE:MOD) by 8.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,340 shares of the auto parts company’s stock after selling 5,705 shares during the quarter. D.A. Davidson & CO. owned 0.11% of Modine Manufacturing worth $5,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position 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 purchasing an additional 142 shares during the last quarter. Bessemer Group Inc. lifted its position in Modine Manufacturing by 9,728.6% in the first quarter. Bessemer Group Inc. now owns 3,440 shares of the auto parts company’s stock valued at $264,000 after purchasing an additional 3,405 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Modine Manufacturing by 159.7% in the first quarter. Janney Montgomery Scott LLC now owns 9,976 shares of the auto parts company’s stock valued at $766,000 after purchasing an additional 6,134 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Modine Manufacturing by 384.3% in the first 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 purchasing an additional 672,960 shares during the last quarter. Finally, KBC Group NV lifted its position in Modine Manufacturing by 16.0% in the first quarter. KBC Group NV now owns 2,411 shares of the auto parts company’s stock valued at $185,000 after purchasing an additional 333 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MOD. Oppenheimer upped their target price on Modine Manufacturing from $145.00 to $180.00 and gave the company an “outperform” rating in a report on Tuesday, October 14th. KeyCorp upped their target price on Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. DA Davidson restated a “buy” rating and set a $185.00 target price on shares of Modine Manufacturing in a report on Monday, September 29th. Finally, Zacks Research downgraded Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $180.00.

Insider Buying and Selling

In related news, Director Marsha C. Williams sold 25,761 shares of the company’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $134.77, for a total value of $3,471,809.97. Following the sale, the director directly owned 120,689 shares of the company’s stock, valued at $16,265,256.53. This represents a 17.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Brian Jon Agen sold 47,939 shares of the company’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $110.50, for a total value of $5,297,259.50. Following the completion of the sale, the vice president directly owned 90,015 shares in the company, valued at approximately $9,946,657.50. The trade was a 34.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 239,938 shares of company stock valued at $31,001,392 over the last 90 days. 2.48% of the stock is currently owned by company insiders.

Modine Manufacturing Price Performance

Shares of MOD stock opened at $152.39 on Friday. The stock has a market cap of $8.00 billion, a price-to-earnings ratio of 43.66, a PEG ratio of 0.94 and a beta of 2.06. The business’s fifty day moving average is $145.74 and its 200 day moving average is $114.15. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $164.89. The company has a quick ratio of 1.28, a current ratio of 2.06 and a debt-to-equity ratio of 0.47.

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

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.