Modine Manufacturing Company $MOD Shares Bought by Granahan Investment Management LLC

Granahan Investment Management LLC grew its position in shares of Modine Manufacturing Company (NYSE:MOD) by 15.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 377,586 shares of the auto parts company’s stock after purchasing an additional 51,112 shares during the quarter. Modine Manufacturing makes up about 4.0% of Granahan Investment Management LLC’s holdings, making the stock its 4th largest position. Granahan Investment Management LLC owned 0.72% of Modine Manufacturing worth $81,827,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MOD. Wellington Management Group LLP boosted its holdings in shares of Modine Manufacturing by 4.7% in the fourth quarter. Wellington Management Group LLP now owns 2,879,299 shares of the auto parts company’s stock valued at $384,415,000 after acquiring an additional 130,511 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Modine Manufacturing by 31.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock valued at $311,503,000 after acquiring an additional 560,131 shares during the period. Wasatch Advisors LP increased its holdings in shares of Modine Manufacturing by 1.4% in the 2nd quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock valued at $176,553,000 after acquiring an additional 23,955 shares during the period. Capital Research Global Investors increased its holdings in shares of Modine Manufacturing by 13.8% in the 4th quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock valued at $197,358,000 after acquiring an additional 179,617 shares during the period. Finally, Invesco Ltd. raised its position in Modine Manufacturing by 120.4% in the 4th quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock valued at $176,037,000 after purchasing an additional 720,389 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Down 3.3%

MOD stock opened at $241.46 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $262.07 and its 200 day moving average price is $227.62. Modine Manufacturing Company has a 52 week low of $98.90 and a 52 week high of $323.25. The company has a market cap of $12.82 billion, a P/E ratio of 107.80, a P/E/G ratio of 0.81 and a beta of 1.67.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.20. The business had revenue of $954.40 million for the quarter, compared to analysts’ expectations of $920.67 million. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The company’s revenue was up 47.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.12 EPS. On average, research analysts expect that Modine Manufacturing Company will post 7.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Eric S. Mcginnis sold 1,020 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the sale, the insider owned 28,364 shares in the company, valued at approximately $8,369,081.84. The trade was a 3.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian Jon Agen sold 38,282 shares of Modine Manufacturing stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the transaction, the vice president owned 66,343 shares in the company, valued at $19,582,463.31. The trade was a 36.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 54,302 shares of company stock valued at $15,928,759 in the last quarter. 1.92% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wall Street Zen lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday. B. Riley Financial increased their price objective on Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. DA Davidson reaffirmed a “buy” rating and set a $330.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 22nd. Weiss Ratings upgraded Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Finally, Glj Research reissued a “buy” rating and issued a $428.00 target price on shares of Modine Manufacturing in a report on Monday, June 1st. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $327.14.

Modine Manufacturing Company 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.