Rise in Demand Pushed Modine Manufacturing Company (MOD)

Chartwell Investment Partners, LLC, an affiliate of Carillon Tower Advisers, Inc., released the “Carillon Chartwell Small Cap Value Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. Information technology and industrials were the top-performing sectors in the Carillon Chartwell Small Cap Growth Fund, with alpha production coming from well-chosen stocks. In contrast, poor stock selection hindered the materials sector’s performance. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Carillon Chartwell Small Cap Value Fund highlighted stocks like Modine Manufacturing Company (NYSE:MOD) in the third quarter 2023 investor letter. Headquartered in Racine, Wisconsin, Modine Manufacturing Company (NYSE:MOD) provides thermal management products and solutions. On December 26, 2023, Modine Manufacturing Company (NYSE:MOD) stock closed at $60.45 per share. One-month return of Modine Manufacturing Company (NYSE:MOD) was 20.23%, and its shares gained 209.21% of their value over the last 52 weeks. Modine Manufacturing Company (NYSE:MOD) has a market capitalization of $3.158 billion.

Carillon Chartwell Small Cap Value Fund made the following comment about Modine Manufacturing Company (NYSE:MOD) in its Q3 2023 investor letter:

Modine Manufacturing Company (NYSE:MOD) was another strong performer. Modine’s performance technologies segment is experiencing high demand as it provides thermal solutions for electronic vehicle (EV) and hybrid vehicle manufacturers. The company also has focused on growth opportunities in the data-center market, selling data center cooling solutions needed for energy intensive artificial intelligence (AI) projects.”

An engineer examining an electric vehicle design in a lab, showing the company’s innovative battery systems.

Modine Manufacturing Company (NYSE:MOD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held Modine Manufacturing Company (NYSE:MOD) at the end of third quarter which was 21 in the previous quarter.

We discussed Modine Manufacturing Company (NYSE:MOD) in another article and shared the list of most undervalued auto stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.