Atlantic Investment Management Inc. Acquires 69,300 Shares of Chart Industries, Inc. $GTLS

Atlantic Investment Management Inc. grew its holdings in Chart Industries, Inc. (NYSE:GTLS) by 33.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 274,699 shares of the industrial products company’s stock after buying an additional 69,300 shares during the period. Chart Industries accounts for approximately 23.1% of Atlantic Investment Management Inc.’s portfolio, making the stock its largest position. Atlantic Investment Management Inc. owned about 0.61% of Chart Industries worth $45,229,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Perpetual Ltd acquired a new position in Chart Industries in the 2nd quarter valued at about $107,498,000. Norges Bank purchased a new position in shares of Chart Industries in the 2nd quarter valued at approximately $92,901,000. Gates Capital Management Inc. grew its stake in shares of Chart Industries by 61.5% in the 1st quarter. Gates Capital Management Inc. now owns 776,636 shares of the industrial products company’s stock valued at $112,115,000 after purchasing an additional 295,738 shares during the last quarter. Loomis Sayles & Co. L P increased its holdings in shares of Chart Industries by 269.1% in the second quarter. Loomis Sayles & Co. L P now owns 313,386 shares of the industrial products company’s stock valued at $51,599,000 after purchasing an additional 228,479 shares during the period. Finally, Third Point LLC purchased a new stake in shares of Chart Industries during the second quarter worth approximately $35,400,000.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Chart Industries in a research report on Monday. Citigroup downgraded Chart Industries from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Finally, JPMorgan Chase & Co. upped their price target on shares of Chart Industries from $194.00 to $210.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Chart Industries has a consensus rating of “Hold” and a consensus price target of $206.33.

Chart Industries Stock Performance

NYSE:GTLS opened at $205.99 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.15 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $9.26 billion, a P/E ratio of 251.22, a price-to-earnings-growth ratio of 1.30 and a beta of 1.76. The firm has a 50-day moving average price of $202.02 and a two-hundred day moving average price of $187.70. Chart Industries, Inc. has a twelve month low of $104.60 and a twelve month high of $220.03.

Chart Industries (NYSE:GTLS) last announced its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.02 by ($0.24). Chart Industries had a net margin of 1.55% and a return on equity of 14.17%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the company earned $2.18 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, research analysts expect that Chart Industries, Inc. will post 9.02 earnings per share for the current fiscal year.

Chart Industries Company Profile

Chart Industries, Inc engages in the designing, engineering, and manufacturing of process technologies and equipment for the gas and liquid molecules in the United States and internationally. The company operates in four segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair, Service & Leasing.