TimesSquare Capital Management and WT Asset Management disclosed substantial new positions in Modine Manufacturing Company. WT Asset Management purchased a stake valued at approximately $78.4 million. TimesSquare Capital initiated a separate position worth $16.30 million.
Modine is currently finalizing its acquisition of Gentherm. The deal is expected to close in the fourth quarter. The company is expanding its data center cooling business while navigating potential U.S.-Canada trade tariffs. These investments follow a recent quarterly earnings report that exceeded EPS estimates.
Recent insider selling activity tempers the institutional influx. Company insiders sold nearly $16 million in shares. These transactions occurred over the past 90 days.