Modine Shares Surge 21% After Securing Data Center Cooling Agreement

(RTTNews) - Modine Manufacturing Company (MOD) shares jumped 20.88 percent to $315.13, up $54.61 on Tuesday, after the company announced a major long-term agreement tied to the rapidly growing data center market.

The stock is currently trading at $315.13 on the New York Stock Exchange, compared with a previous close of $260.67. It opened at $263.00 and traded between $307.05 and $310.16 during the session, with volume reaching 336,453 shares.

Modine Manufacturing Company said it entered into a Long-Term Capacity Agreement with a strategic data center customer for its Airedale by Modine cooling solutions. Under the agreement, Modine will guarantee supply capacity for more than $4 billion of Airedale cooling products between 2027 and 2029.

Modine shares have traded between $86.48 and $310.16 over the past 52 weeks.