Granahan Investment Management LLC Has $43.59 Million Stake in Modine Manufacturing Company $MOD

Granahan Investment Management LLC raised its stake in Modine Manufacturing Company (NYSE:MOD) by 74.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 326,474 shares of the auto parts company’s stock after buying an additional 139,560 shares during the quarter. Modine Manufacturing accounts for about 1.9% of Granahan Investment Management LLC’s portfolio, making the stock its 14th largest position. Granahan Investment Management LLC’s holdings in Modine Manufacturing were worth $43,588,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new position in Modine Manufacturing in the fourth quarter valued at about $25,000. Spire Wealth Management acquired a new position in Modine Manufacturing in the fourth quarter valued at about $27,000. Sunbelt Securities Inc. acquired a new position in Modine Manufacturing in the third quarter valued at about $39,000. Danske Bank A S acquired a new position in Modine Manufacturing in the third quarter valued at about $43,000. Finally, Root Financial Partners LLC lifted its stake in Modine Manufacturing by 140.5% in the fourth quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company’s stock valued at $49,000 after buying an additional 215 shares during the period. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Stock Down 0.2%

NYSE:MOD opened at $285.20 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94. The company has a market cap of $15.06 billion, a PE ratio of 127.32, a PEG ratio of 0.92 and a beta of 1.65. Modine Manufacturing Company has a 52-week low of $86.48 and a 52-week high of $323.25. The stock has a 50-day simple moving average of $262.90 and a 200 day simple moving average of $207.32.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.20. The business had revenue of $954.40 million during the quarter, compared to the consensus estimate of $920.67 million. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.Modine Manufacturing’s quarterly revenue was up 47.5% on a year-over-year basis. During the same period last year, the company earned $1.12 earnings per share. On average, sell-side analysts expect that Modine Manufacturing Company will post 7.73 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Roth Mkm assumed coverage on Modine Manufacturing in a research note on Wednesday, February 18th. They issued a “buy” rating and a $263.00 target price on the stock. B. Riley Financial raised their price target 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 raised their price target on Modine Manufacturing from $265.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Glj Research reaffirmed a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a research report on Monday, June 1st. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Modine Manufacturing has an average rating of “Moderate Buy” and an average target price of $327.14.

About Modine Manufacturing

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.