Modine Manufacturing Co. (MOD, Financial) (less than 0.1%) (MOD – $14.77 – NYSE) headquartered in Racine, Wisconsin, is a thermal management systems and components company with a long history and leading position in building heating and cooling as well as vehicular HVAC markets. The company, through is sale of its liquid-cooled components division, continues to transition its business model to one that focuses on high growth markets, such as data center cooling. We expect the company to continue to emphasize its commercial and building offerings, likely enabling the market to assign a higher valuation multiple to the business.
From Mario Gabelli (Trades, Portfolio)'s Gabelli Asset Fund first-quarter 2021 shareholder commentary.
