Granahan Investment Management LLC Has $26.57 Million Stock Holdings in Modine Manufacturing Company $MOD

by · The Markets Daily

Granahan Investment Management LLC raised its stake in Modine Manufacturing Company (NYSE:MOD – Free Report) by 76.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 186,914 shares of the auto parts company’s stock after purchasing an additional 80,810 shares during the period. Modine Manufacturing accounts for 1.1% of Granahan Investment Management LLC’s holdings, making the stock its 28th biggest holding. Granahan Investment Management LLC’s holdings in Modine Manufacturing were worth $26,572,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Modine Manufacturing by 13.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 84,616 shares of the auto parts company’s stock valued at $12,512,000 after buying an additional 9,989 shares during the period. Schear Investment Advisers LLC acquired a new position in Modine Manufacturing during the 2nd quarter worth approximately $1,547,000. Principal Financial Group Inc. boosted its holdings in Modine Manufacturing by 0.9% in the third quarter. Principal Financial Group Inc. now owns 749,845 shares of the auto parts company’s stock worth $106,598,000 after acquiring an additional 6,847 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in Modine Manufacturing by 390.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 16,861 shares of the auto parts company’s stock worth $2,397,000 after acquiring an additional 13,424 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in Modine Manufacturing by 12.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 48,189 shares of the auto parts company’s stock valued at $6,851,000 after acquiring an additional 5,319 shares during the period. Institutional investors and hedge funds own 95.23% of the company’s stock.

Insider Transactions at Modine Manufacturing

In other news, Director Suresh V. Garimella sold 1,100 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total value of $202,477.00. Following the completion of the sale, the director owned 79,856 shares in the company, valued at $14,699,093.92. This represents a 1.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.48% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Roth Mkm started coverage on Modine Manufacturing in a report on Wednesday, February 18th. They set a “buy” rating and a $263.00 price objective for the company. UBS Group initiated coverage on Modine Manufacturing in a report on Thursday, November 20th. They issued a “buy” rating and a $173.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. Zacks Research upgraded shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. Finally, Oppenheimer raised their price objective on shares of Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Modine Manufacturing has an average rating of “Buy” and an average target price of $223.20.

Get Our Latest Analysis on MOD

Modine Manufacturing Stock Down 1.6%

MOD stock opened at $188.79 on Monday. The firm has a market capitalization of $9.95 billion, a PE ratio of 104.88, a P/E/G ratio of 1.15 and a beta of 1.66. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $243.80. The stock’s 50 day moving average is $183.57 and its 200-day moving average is $160.09.

Modine Manufacturing (NYSE:MOD – Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.20. The business had revenue of $805.00 million during the quarter, compared to the consensus estimate of $763.54 million. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.Modine Manufacturing’s revenue was up 30.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 earnings per share. Sell-side analysts expect that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Modine Manufacturing Profile

(Free Report)

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.

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