Granahan Investment Management LLC Purchases 127,024 Shares of Modine Manufacturing Company $MOD

Key Points

• Granahan Investment Management LLC increased its stake in Modine Manufacturing Company by 120.8% during the first quarter, owning approximately 0.44% of the company worth about $17.8 million.
• Several hedge funds raised their positions in Modine, with institutional investors collectively owning 95.23% of the stock, indicating strong interest from the investment community.
• Modine Manufacturing recently reported earnings per share of $1.06, surpassing analyst expectations, and received mixed ratings from analysts with a consensus rating of "Buy" and a target price of $145.67.

Granahan Investment Management LLC lifted its stake in Modine Manufacturing Company (NYSE:MOD - Free Report) by 120.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,146 shares of the auto parts company's stock after purchasing an additional 127,024 shares during the period. Granahan Investment Management LLC owned 0.44% of Modine Manufacturing worth $17,817,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MOD. GAMMA Investing LLC increased its stake in shares of Modine Manufacturing by 63.1% in the 1st quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock worth $28,000 after purchasing an additional 142 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Modine Manufacturing by 245.9% in the 1st quarter. Versant Capital Management Inc now owns 422 shares of the auto parts company's stock worth $32,000 after purchasing an additional 300 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Modine Manufacturing in the 1st quarter worth $46,000. First Horizon Advisors Inc. increased its stake in Modine Manufacturing by 442.4% in the 1st quarter. First Horizon Advisors Inc. now owns 640 shares of the auto parts company's stock worth $49,000 after buying an additional 522 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in Modine Manufacturing by 14.2% in the 1st quarter. IFP Advisors Inc now owns 911 shares of the auto parts company's stock worth $70,000 after buying an additional 113 shares in the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Trading Down 0.5%

MOD traded down $0.65 on Friday, hitting $135.34. The company had a trading volume of 839,147 shares, compared to its average volume of 651,000. The company has a market cap of $7.10 billion, a PE ratio of 38.78, a PEG ratio of 0.86 and a beta of 2.09. Modine Manufacturing Company has a 12-month low of $64.79 and a 12-month high of $146.84. The company has a quick ratio of 1.28, a current ratio of 2.06 and a debt-to-equity ratio of 0.47. The business's fifty day simple moving average is $119.87 and its 200 day simple moving average is $98.58.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.93 by $0.13. The company had revenue of $682.80 million during the quarter, compared to analyst estimates of $653.80 million. Modine Manufacturing had a return on equity of 23.90% and a net margin of 7.21%.The firm's revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $1.04 earnings per share. Modine Manufacturing has set its FY 2026 guidance at EPS. Equities research analysts expect that Modine Manufacturing Company will post 3.88 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wall Street Zen downgraded shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Oppenheimer raised their price objective on Modine Manufacturing from $121.00 to $122.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. Finally, KeyCorp raised their price objective on Modine Manufacturing from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $145.67.

Insider Buying and Selling

In related news, insider Eric S. Mcginnis sold 25,173 shares of Modine Manufacturing stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $140.86, for a total value of $3,545,868.78. Following the completion of the transaction, the insider owned 19,966 shares in the company, valued at approximately $2,812,410.76. This trade represents a 55.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael B. Lucareli sold 80,661 shares of Modine Manufacturing stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $128.33, for a total value of $10,351,226.13. Following the completion of the transaction, the executive vice president owned 66,920 shares of the company's stock, valued at approximately $8,587,843.60. This represents a 54.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 239,938 shares of company stock valued at $31,001,392 in the last quarter. 2.48% of the stock is currently owned by insiders.

Modine Manufacturing Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.