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Shareholders of Modine Manufacturing Company (NYSE:MOD), a $7.14 billion market cap company that has delivered an impressive 56% return over the past six months, voted Thursday to elect four directors to the board and approved two additional proposals, according to a statement based on a recent SEC filing. InvestingPro data shows the company maintains strong financial health with a robust current ratio of 2.06.
At the shareholder meeting, Neil D. Brinker, Katherine C. Harper, David J. Wilson, and Mark Bendza were elected to serve as directors until the company’s 2028 annual meeting. The voting results for each director were as follows: Brinker received 45,820,050 votes in favor, 771,251 against, and 31,276 abstentions; Harper received 44,510,483 in favor, 2,079,773 against, and 32,321 abstentions; Wilson received 42,659,121 in favor, 3,930,255 against, and 33,201 abstentions; and Bendza received 46,141,667 in favor, 447,167 against, and 33,743 abstentions. Each director candidate also had 2,224,542 broker non-votes.
Shareholders also approved the advisory vote on named executive officer compensation, with 44,940,714 votes in favor, 1,542,927 against, and 138,936 abstentions. There were 2,224,542 broker non-votes for this proposal.
In addition, the appointment of KPMG as Modine’s independent registered public accounting firm was ratified. The vote tallied 48,659,379 in favor, 133,266 against, and 54,474 abstentions.
The company’s common stock is listed on the New York Stock Exchange under the ticker symbol MOD.
All information is based on a press release statement contained in Modine Manufacturing Company’s Form 8-K filed with the Securities and Exchange Commission.
In other recent news, Modine Manufacturing Company reported impressive financial results for the first quarter of fiscal year 2026. The company exceeded analysts’ expectations with earnings per share (EPS) of $1.06, surpassing the forecast of $0.95 by 11.58%. Additionally, Modine’s revenue reached $682.8 million, which was 4.6% above the anticipated $652.76 million. In a separate development, KeyBanc raised its price target for Modine Manufacturing to $160.00 from $150.00, maintaining an Overweight rating. This reflects KeyBanc’s confidence in Modine’s potential to leverage strong demand trends in the data center cooling market. Furthermore, Modine has expanded its manufacturing capabilities by opening a new 100,000 square foot facility in Chennai, India. This facility will produce Airedale by Modine data center cooling equipment, catering to the growing demand in the Asia-Pacific region. The Chennai facility has already begun production with the AireWall ONE fan wall, and there are plans to expand to additional product ranges.
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