Granahan Investment Management LLC Has $17.82 Million Holdings in 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 increased its holdings in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 120.8% in the first quarter, according to its most recent disclosure with the SEC. The firm 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 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its position in Modine Manufacturing by 5.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,006 shares of the auto parts company's stock worth $154,000 after purchasing an additional 105 shares during the period. IFP Advisors Inc boosted its position in Modine Manufacturing by 14.2% during the first quarter. IFP Advisors Inc now owns 911 shares of the auto parts company's stock worth $70,000 after purchasing an additional 113 shares during the period. GAMMA Investing LLC boosted its position in Modine Manufacturing by 63.1% during the first quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock worth $28,000 after purchasing an additional 142 shares during the period. Mesirow Financial Investment Management Inc. boosted its position in Modine Manufacturing by 6.2% during the first quarter. Mesirow Financial Investment Management Inc. now owns 3,122 shares of the auto parts company's stock worth $241,000 after purchasing an additional 182 shares during the period. Finally, Bay Rivers Group boosted its position in Modine Manufacturing by 3.4% during the first quarter. Bay Rivers Group now owns 6,308 shares of the auto parts company's stock worth $484,000 after purchasing an additional 209 shares during the period. Institutional investors own 95.23% of the company's stock.

Wall Street Analysts Forecast Growth

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

Modine Manufacturing Price Performance

Modine Manufacturing stock traded up $11.77 during trading hours on Wednesday, reaching $150.29. 823,038 shares of the stock were exchanged, compared to its average volume of 1,160,640. The company has a market cap of $7.89 billion, a P/E ratio of 43.07, a price-to-earnings-growth ratio of 0.88 and a beta of 2.09. The company has a current ratio of 2.06, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. Modine Manufacturing Company has a twelve month low of $64.79 and a twelve month high of $154.00. The stock has a 50 day moving average of $121.48 and a two-hundred day moving average of $99.22.

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

Insiders Place Their Bets

In related news, Director Marsha C. Williams sold 25,761 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $134.77, for a total value of $3,471,809.97. Following the completion of the transaction, the director owned 120,689 shares in the company, valued at $16,265,256.53. This trade represents a 17.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric S. Mcginnis sold 25,173 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $140.86, for a total transaction of $3,545,868.78. Following the transaction, the insider owned 19,966 shares of the company's stock, valued at approximately $2,812,410.76. The trade was a 55.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 239,938 shares of company stock worth $31,001,392 over the last quarter. 2.48% of the stock is currently owned by corporate insiders.

About Modine Manufacturing

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.