Angelo Gordon & CO. L.P. Makes New Investment in Chart Industries, Inc. $GTLS

Key Points

• Angelo Gordon acquired a new stake of 13,000 shares (~$2.6M) in Chart Industries in Q3, according to its latest 13F filing.
• Several other hedge funds also increased or established positions—most notably AQR Arbitrage adding ~297,878 shares to hold ~378,580 shares (~$75.8M), and new or larger stakes from SummitTX, Schonfeld and Creative Planning—signaling notable institutional buying activity.
• Wall Street views are mixed: the consensus rating is a "Hold" with an average target of $204.10, while Chart recently missed quarterly estimates (EPS $2.51 vs. $3.48; revenue $1.08B vs. $1.23B) and trades near its 12‑month high with an elevated P/E ratio.

Angelo Gordon & CO. L.P. acquired a new stake in shares of Chart Industries, Inc. (NYSE:GTLS - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 13,000 shares of the industrial products company's stock, valued at approximately $2,602,000.

Several other hedge funds also recently made changes to their positions in the business. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Chart Industries during the 3rd quarter valued at $5,004,000. Creative Planning grew its holdings in shares of Chart Industries by 39.8% in the 3rd quarter. Creative Planning now owns 17,587 shares of the industrial products company's stock worth $3,520,000 after acquiring an additional 5,008 shares during the last quarter. SummitTX Capital L.P. acquired a new stake in shares of Chart Industries during the third quarter worth $12,209,000. AQR Arbitrage LLC lifted its holdings in shares of Chart Industries by 369.1% during the third quarter. AQR Arbitrage LLC now owns 378,580 shares of the industrial products company's stock valued at $75,773,000 after purchasing an additional 297,878 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Chart Industries in the 3rd quarter valued at $532,000.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GTLS shares. Weiss Ratings reissued a "sell (d+)" rating on shares of Chart Industries in a research note on Monday, December 29th. Zacks Research upgraded shares of Chart Industries from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $204.10.

Chart Industries Stock Performance

Shares of GTLS opened at $206.78 on Friday. The firm has a market cap of $9.90 billion, a price-to-earnings ratio of 795.33, a price-to-earnings-growth ratio of 0.79 and a beta of 1.73. The company's fifty day moving average is $207.13 and its 200-day moving average is $203.74. The company has a quick ratio of 1.09, a current ratio of 1.36 and a debt-to-equity ratio of 1.06. Chart Industries, Inc. has a 12 month low of $104.60 and a 12 month high of $208.24.

Chart Industries (NYSE:GTLS - Get Free Report) last posted its earnings results on Friday, February 27th. The industrial products company reported $2.51 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.97). Chart Industries had a return on equity of 13.55% and a net margin of 0.95%.The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the company earned $2.66 earnings per share. The company's quarterly revenue was down 2.5% compared to the same quarter last year. Equities analysts expect that Chart Industries, Inc. will post 9.02 EPS for the current fiscal year.

Chart Industries Profile

Chart Industries, Inc NYSE: GTLS is a leading global manufacturer of engineered equipment for the storage, distribution and end-use of hydrocarbon and industrial gases. The company specializes in cryogenic systems and components, serving key markets such as energy, chemical processing, industrial gas, food and beverage, and medical gases. Chart's product portfolio includes large-scale cryogenic storage tanks, vaporizers, heat exchangers and pump systems designed to maintain gases in liquid and gaseous states under extreme conditions.

Founded in 1992 and headquartered in Ball Ground, Georgia, Chart Industries has evolved through targeted acquisitions and organic growth to expand its technological capabilities and geographic reach.

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