Granahan Investment Management LLC Buys 139,560 Shares of Modine Manufacturing Company $MOD

Granahan Investment Management LLC lifted its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 74.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 326,474 shares of the auto parts company’s stock after purchasing an additional 139,560 shares during the period. 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 owned 0.62% of Modine Manufacturing worth $43,588,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MOD. Kemnay Advisory Services Inc. bought a new stake in shares of Modine Manufacturing during the fourth quarter worth $25,000. Spire Wealth Management bought a new stake in shares of Modine Manufacturing during the fourth quarter worth $27,000. Sunbelt Securities Inc. bought a new stake in shares of Modine Manufacturing during the third quarter worth $39,000. Danske Bank A S bought a new stake in shares of Modine Manufacturing during the third quarter worth $43,000. Finally, Root Financial Partners LLC grew its holdings in shares of Modine Manufacturing by 140.5% during the fourth quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company’s stock worth $49,000 after purchasing an additional 215 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Trading Down 0.2%

Shares of MOD opened at $285.20 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. Modine Manufacturing Company has a 12-month low of $86.48 and a 12-month high of $323.25. The firm has a market capitalization of $15.06 billion, a PE ratio of 127.32, a price-to-earnings-growth ratio of 0.92 and a beta of 1.65. The stock’s fifty day simple moving average is $262.90 and its 200-day simple moving average is $207.32.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.20. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The business had revenue of $954.40 million for the quarter, compared to analyst estimates of $920.67 million. During the same quarter in the prior year, the firm posted $1.12 earnings per share. The firm’s revenue for the quarter was up 47.5% compared to the same quarter last year. As a group, research analysts predict that Modine Manufacturing Company will post 7.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MOD shares. DA Davidson increased their target price on Modine Manufacturing from $265.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Zacks Research cut Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Weiss Ratings upgraded Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. Oppenheimer increased their target price on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Finally, B. Riley Financial upped their price target on Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus target price of $327.14.

Modine Manufacturing 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.