MOD Modine Manufacturing Company

Eric S McGinnis is set to retire as president of climate solutions at Modine Manufacturing on June 30, 2026. He will continue to oversee Modine’s climate solutions, HTS, and HVAC lines until his retirement. McGinnis previously held significant roles at Regal Beloit Corporation and General Electric before joining Modine.

Modine Manufacturing Company (NYSE:MOD) has increased its revolving credit facility by $150 million to a total of $550 million through an amendment signed on December 23. This amendment also expands the future incremental revolving commitments and term loans option to $250 million. Additionally, the company announced the planned retirement of President of Climate Solutions, Eric S. McGinnis, and director Christopher W. Patterson, while UBS and DA Davidson initiated and reiterated "Buy" ratings respectively.

Modine Manufacturing and Airedale International Air Conditioning entered into an amendment to their Sixth Amended and Restated Credit Agreement on December 23. This news item is a brief headline from Refinitiv, distributed by Reuters.

Modine Manufacturing Company announced an amendment to its existing credit agreement, raising its revolving credit facility by $150 million to a total of $550 million. The amendment also increases the expansion option for future incremental commitments to $250 million and outlines provisions for lender reassignment. This move, along with recent leadership retirements, positive analyst ratings from UBS and DA Davidson, and product expansions, underscores Modine's strategic financial and operational developments.

Modine Manufacturing (NYSE:MOD) carries debt but manages it sensibly, with low net debt to EBITDA and strong interest coverage. While the company's free cash flow conversion from EBIT is a concern, its overall ability to handle debt appears comfortable. Investors should monitor its balance sheet strength but can be reassured by its current debt management.

Harbor Capital Advisors Inc. significantly reduced its stake in Modine Manufacturing Company (NYSE:MOD) by 69.3% in the third quarter of 2025, selling 126,761 shares and now holding 56,049 shares valued at approximately $7.97 million. Despite this, other institutional investors like Situational Awareness LP, Champlain Investment Partners LLC, and Congress Asset Management Co. have substantially increased their positions, pushing institutional ownership to roughly 95.23%. Modine Manufacturing recently reported strong Q3 earnings, beating EPS consensus and increasing revenue by 12.3% year-over-year, leading analysts to maintain a "Moderate Buy" rating with a target price of $182.00.