Modine Manufacturing Company $MOD Shares Purchased by Portolan Capital Management LLC

Key Points

• Portolan Capital Management increased its stake in Modine by 22.4% to 602,462 shares, making MOD its largest position (about 4.6% of the firm's portfolio) valued at roughly $85.65 million and representing ~1.14% of the company.
• Modine beat quarterly expectations with EPS of $1.19 versus $0.99 and revenue of $805M (up 30.5% year-over-year), and analysts have a consensus Buy rating with a $223.20 target amid several upgraded price objectives.
• Director Suresh V. Garimella sold 1,100 shares (~$202,477), while institutional investors own 95.23% of the stock and insiders hold 2.48%.

Portolan Capital Management LLC raised its stake in Modine Manufacturing Company (NYSE:MOD - Free Report) by 22.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 602,462 shares of the auto parts company's stock after purchasing an additional 110,146 shares during the quarter. Modine Manufacturing comprises about 4.6% of Portolan Capital Management LLC's investment portfolio, making the stock its biggest position. Portolan Capital Management LLC owned 1.14% of Modine Manufacturing worth $85,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its holdings in shares of Modine Manufacturing by 17.6% during the third quarter. Parkside Financial Bank & Trust now owns 500 shares of the auto parts company's stock valued at $71,000 after acquiring an additional 75 shares during the period. Handelsbanken Fonder AB raised its stake in shares of Modine Manufacturing by 0.8% during the second quarter. Handelsbanken Fonder AB now owns 13,100 shares of the auto parts company's stock valued at $1,290,000 after purchasing an additional 100 shares in the last quarter. Intrust Bank NA lifted its holdings in Modine Manufacturing by 2.3% in the third quarter. Intrust Bank NA now owns 4,919 shares of the auto parts company's stock worth $699,000 after purchasing an additional 109 shares during the period. BCS Private Wealth Management Inc. grew its position in Modine Manufacturing by 2.8% in the 3rd quarter. BCS Private Wealth Management Inc. now owns 4,525 shares of the auto parts company's stock valued at $643,000 after buying an additional 125 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in Modine Manufacturing by 1.2% during the 3rd quarter. Arizona State Retirement System now owns 14,752 shares of the auto parts company's stock valued at $2,097,000 after buying an additional 176 shares during the period. Institutional investors and hedge funds own 95.23% of the company's stock.

Insider Buying and Selling at Modine Manufacturing

In related news, Director Suresh V. Garimella sold 1,100 shares of the stock in a transaction 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 completion of the transaction, the director owned 79,856 shares in the company, valued at $14,699,093.92. This trade represents a 1.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.48% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MOD. DA Davidson increased their price objective on shares of Modine Manufacturing from $255.00 to $265.00 and gave the company a "buy" rating in a report on Monday, February 9th. Roth Mkm started coverage on Modine Manufacturing in a report on Wednesday, February 18th. They set a "buy" rating and a $263.00 target price on the stock. Oppenheimer upped their target price on Modine Manufacturing from $220.00 to $240.00 and gave the stock an "outperform" rating in a research report on Friday, February 6th. Wall Street Zen lowered Modine Manufacturing from a "buy" rating to a "hold" rating in a research note on Sunday, February 22nd. Finally, UBS Group started 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. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Modine Manufacturing presently has a consensus rating of "Buy" and a consensus target price of $223.20.

Modine Manufacturing Price Performance

NYSE MOD opened at $188.79 on Friday. Modine Manufacturing Company has a 1 year low of $64.79 and a 1 year high of $243.80. The business's fifty day moving average is $183.57 and its two-hundred day moving average is $159.83. The stock has a market capitalization of $9.95 billion, a P/E ratio of 104.88, a P/E/G ratio of 1.17 and a beta of 1.67. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $805.00 million during the quarter, compared to analyst estimates of $763.54 million. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The company's revenue was up 30.5% compared to the same quarter last year. During the same period last year, the company posted $0.92 EPS. On average, research analysts forecast that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

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.

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