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Modine Manufacturing director Christopher Patterson to retire from board

Published 14/11/2025, 17:56
Modine Manufacturing director Christopher Patterson to retire from board
MOD
-2.67%

Modine Manufacturing Company (NYSE:MOD) announced that Christopher W. Patterson, a member of its Board of Directors, has notified the company of his intention to retire from the board for personal reasons, effective November 17, 2025. Patterson also serves on the board’s Human Capital and Compensation and Audit committees. The $7 billion market cap company, currently trading at $133.92, has seen its stock price surge 22.5% over the past six months despite trading at a relatively high P/E ratio of 38.2. According to InvestingPro data, the stock appears overvalued based on its current Fair Value assessment.

According to the company’s statement, Patterson did not indicate any disagreement with Modine Manufacturing regarding its operations, policies, or practices. Following his resignation, the size of the board will be reduced from eleven to ten directors.

This information is based on a press release statement included in the company’s recent filing with the Securities and Exchange Commission.

In other recent news, Modine Manufacturing Company reported better-than-expected earnings for the second quarter of fiscal year 2026. The company achieved an adjusted earnings per share (EPS) of $1.06, surpassing analyst forecasts of $1.01, which represents a 4.95% positive surprise. Revenue also exceeded expectations, coming in at $738.9 million compared to the forecast of $698.4 million, reflecting a 5.79% surprise. Despite these positive earnings and revenue results, investor concerns over declining gross margins and negative free cash flow were noted. The company’s stock experienced a decline, although specific price movements were not detailed. No merger activity was reported, and there were no recent analyst upgrades or downgrades mentioned. These developments underscore the complexities facing Modine Manufacturing in the current financial landscape.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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