Portolan Capital Management LLC Purchases 110,146 Shares of Modine Manufacturing Company $MOD

Portolan Capital Management LLC lifted its position in Modine Manufacturing Company (NYSE:MOD) by 22.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 602,462 shares of the auto parts company’s stock after acquiring an additional 110,146 shares during the quarter. Modine Manufacturing makes up about 4.6% of Portolan Capital Management LLC’s holdings, making the stock its biggest holding. Portolan Capital Management LLC’s holdings in Modine Manufacturing were worth $85,646,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MOD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Modine Manufacturing by 26.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock worth $2,857,000 after purchasing an additional 7,831 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Modine Manufacturing by 10.0% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,599 shares of the auto parts company’s stock valued at $355,000 after purchasing an additional 326 shares in the last quarter. Allworth Financial LP boosted its position in shares of Modine Manufacturing by 522.4% in the second quarter. Allworth Financial LP now owns 722 shares of the auto parts company’s stock worth $71,000 after buying an additional 606 shares during the period. Boston Partners acquired a new stake in shares of Modine Manufacturing in the second quarter worth $20,547,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Modine Manufacturing by 21.8% during the second quarter. PNC Financial Services Group Inc. now owns 1,449 shares of the auto parts company’s stock valued at $143,000 after buying an additional 259 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

MOD opened at $188.79 on Friday. The stock has a fifty day moving average price of $183.57 and a 200 day moving average price of $159.83. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. Modine Manufacturing Company has a 1 year low of $64.79 and a 1 year high of $243.80. The stock has a market cap of $9.95 billion, a price-to-earnings ratio of 104.88, a PEG ratio of 1.17 and a beta of 1.67.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.20. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The company had revenue of $805.00 million for the quarter, compared to analyst estimates of $763.54 million. During the same period in the prior year, the firm posted $0.92 EPS. The business’s revenue was up 30.5% compared to the same quarter last year. Analysts forecast that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MOD shares. UBS Group began coverage on Modine Manufacturing in a research report on Thursday, November 20th. They set a “buy” rating and a $173.00 price target on the stock. DA Davidson lifted their target price on Modine Manufacturing from $255.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Oppenheimer upped their target price on Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Zacks Research raised shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. Finally, Roth Mkm initiated coverage on shares of Modine Manufacturing in a report on Wednesday, February 18th. They set a “buy” rating and a $263.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $223.20.

Insider Activity at Modine Manufacturing

In related news, Director Suresh V. Garimella sold 1,100 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total value of $202,477.00. Following the transaction, the director owned 79,856 shares in the company, valued at approximately $14,699,093.92. This represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.48% of the company’s stock.

Modine Manufacturing Profile

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.