Gabelli Funds LLC lessened its position in shares of Chart Industries, Inc. (NASDAQ:GTLS) by 37.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,150 shares of the industrial products company’s stock after selling 20,000 shares during the quarter. Gabelli Funds LLC’s holdings in Chart Industries were worth $2,067,000 at the end of the most recent reporting period.
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A number of other hedge funds have also recently added to or reduced their stakes in GTLS. Oppenheimer Asset Management Inc. purchased a new position in Chart Industries during the second quarter valued at $52,000. Point72 Hong Kong Ltd lifted its holdings in Chart Industries by 2,000.0% during the second quarter. Point72 Hong Kong Ltd now owns 945 shares of the industrial products company’s stock valued at $73,000 after purchasing an additional 900 shares in the last quarter. Royal Bank of Canada lifted its holdings in Chart Industries by 62.9% during the second quarter. Royal Bank of Canada now owns 1,417 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 547 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Chart Industries by 18.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,967 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 311 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in Chart Industries by 858.9% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,774 shares of the industrial products company’s stock valued at $135,000 after purchasing an additional 1,589 shares in the last quarter.
In related news, Director Carey Chen purchased 3,403 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of $59.73 per share, for a total transaction of $203,261.19. Following the completion of the transaction, the director now directly owns 5,500 shares in the company, valued at $328,515. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.28% of the stock is owned by company insiders.
Several research firms have issued reports on GTLS. Zacks Investment Research downgraded shares of Chart Industries from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Lake Street Capital set a $109.00 price objective on shares of Chart Industries and gave the company a “buy” rating in a report on Friday, October 18th. BidaskClub downgraded shares of Chart Industries from a “sell” rating to a “strong sell” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. began coverage on shares of Chart Industries in a report on Wednesday, September 25th. They set a “neutral” rating and a $73.00 price objective on the stock. Finally, TheStreet downgraded shares of Chart Industries from a “b-” rating to a “c+” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $79.79.
Shares of NASDAQ:GTLS traded down $0.11 during midday trading on Friday, hitting $58.19. The company’s stock had a trading volume of 256,300 shares, compared to its average volume of 441,782. Chart Industries, Inc. has a 12-month low of $54.12 and a 12-month high of $95.66. The company has a market cap of $2.11 billion, a P/E ratio of 28.81 and a beta of 1.22. The business’s 50 day simple moving average is $60.10 and its 200 day simple moving average is $70.46. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.20 and a current ratio of 1.83.
Chart Industries (NASDAQ:GTLS) last announced its quarterly earnings results on Thursday, October 17th. The industrial products company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). Chart Industries had a net margin of 6.55% and a return on equity of 8.10%. The company had revenue of $357.80 million for the quarter, compared to analyst estimates of $378.53 million. During the same quarter in the prior year, the business earned $0.74 earnings per share. Chart Industries’s revenue was up 31.4% on a year-over-year basis. On average, sell-side analysts predict that Chart Industries, Inc. will post 2.81 earnings per share for the current fiscal year.
Chart Industries Profile
Chart Industries, Inc manufactures and sells engineered equipment and packaged solutions; and provides value-add services for the energy and industrial gas industries worldwide. It operates through three segments: Energy & Chemicals, Distribution & Storage Western Hemisphere, and Distribution & Storage Eastern Hemisphere segments.
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