New York State Common Retirement Fund Acquires 98,646 Shares of Modine Manufacturing Company $MOD

New York State Common Retirement Fund raised its holdings in Modine Manufacturing Company (NYSE:MOD) by 39.4% during the third quarter, HoldingsChannel reports. The firm owned 349,135 shares of the auto parts company’s stock after acquiring an additional 98,646 shares during the quarter. New York State Common Retirement Fund’s holdings in Modine Manufacturing were worth $49,633,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MOD. First Horizon Corp bought a new stake in shares of Modine Manufacturing during the 3rd quarter worth $38,000. Parkside Financial Bank & Trust raised its stake in Modine Manufacturing by 2,025.0% during the second quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock worth $42,000 after acquiring an additional 405 shares in the last quarter. 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 worth $55,000 after acquiring an additional 193 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of Modine Manufacturing in the second quarter worth about $57,000. Finally, Toth Financial Advisory Corp acquired a new stake in shares of Modine Manufacturing in the 3rd quarter valued at approximately $57,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Insider Activity

In other news, CEO Neil David Brinker sold 31,871 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total value of $5,117,207.76. Following the completion of the sale, the chief executive officer owned 238,312 shares of the company’s stock, valued at approximately $38,263,374.72. This represents a 11.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Suresh V. Garimella sold 1,100 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $150.00, for a total value of $165,000.00. Following the completion of the transaction, the director directly owned 80,956 shares in the company, valued at approximately $12,143,400. This represents a 1.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.48% of the company’s stock.

Modine Manufacturing News Summary

Here are the key news stories impacting Modine Manufacturing this week:

• Positive Sentiment: Strategic combination: Modine and Gentherm announced a ~ $1.0B Reverse Morris Trust transaction to combine Modine’s Performance Technologies business with Gentherm, creating a larger thermal-management player with expected substantial synergies, a more balanced end-market mix (less light-vehicle concentration), and Modine shareholders owning ~40% of the combined company. The structure is framed as accelerating Modine’s transformation into a higher-margin climate-solutions pure play. Gentherm and Modine Release
• Positive Sentiment: Market reaction: Media reported Modine shares jumped as the merger deal with Gentherm “takes shape,” reflecting investor enthusiasm and higher trading volume on the strategic combination news. MSN: Shares Jump
• Positive Sentiment: Analyst support: DA Davidson reaffirmed a “buy” rating and set a $200 price target, signaling ~mid-teens upside from current levels and giving investors an independent bullish valuation anchor. Benzinga: DA Davidson
• Neutral Sentiment: Management detail: Seeking Alpha published transcripts of Modine’s M&A call and a separate spin-off/combination discussion, which provide context on transaction mechanics, timing and management rationale — useful for investors seeking specifics but not new headline news. M&A Call Transcript Spin-Off Transcript
• Neutral Sentiment: Analyst commentary roundup: Zacks ran a piece on whether Modine is worth investing in given recent bullish analyst views — helpful for perspective but not a primary driver of today’s move. Zacks: Analyst Views
• Neutral Sentiment: Earnings schedule: A reminder that Modine will report quarterly earnings shortly, which remains a potential near-term catalyst but is routine scheduling news. Earnings Release Notice

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Oppenheimer upped their price objective 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. UBS Group started coverage on shares of Modine Manufacturing in a report on Thursday, November 20th. They set a “buy” rating and a $173.00 price target for the company. DA Davidson reiterated a “buy” rating and issued a $200.00 price target on shares of Modine Manufacturing in a research note on Thursday. KeyCorp boosted their price objective on Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Modine Manufacturing presently has an average rating of “Moderate Buy” and a consensus price target of $182.00.

Modine Manufacturing Price Performance

Shares of NYSE:MOD opened at $176.79 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.00. Modine Manufacturing Company has a 52 week low of $64.79 and a 52 week high of $182.85. The firm has a market cap of $9.31 billion, a PE ratio of 51.09, a price-to-earnings-growth ratio of 0.93 and a beta of 1.70. The firm’s fifty day moving average is $143.25 and its 200-day moving average is $140.38.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, October 28th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.09. The business had revenue of $738.90 million during the quarter, compared to analyst estimates of $699.91 million. Modine Manufacturing had a return on equity of 23.19% and a net margin of 6.93%.Modine Manufacturing’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the company earned $0.97 EPS. Sell-side analysts predict that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

About Modine Manufacturing

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.