Clearline Capital LP Sells 3,512 Shares of Chart Industries, Inc. $GTLS

Key Points

• Clearline Capital LP reduced its stake in Chart Industries, Inc. by 27.1% in the first quarter, now holding 9,459 shares valued at approximately $1.366 million.
• Several hedge funds have recently adjusted their stakes in Chart Industries, with OneDigital Investment Advisors increasing their holdings by 13.2% during the same period.
• Chart Industries reported $2.59 EPS for the last quarter, missing analyst estimates of $2.62, with a revenue of $1.08 billion compared to expectations of $1.11 billion.

Clearline Capital LP decreased its holdings in shares of Chart Industries, Inc. (NYSE:GTLS - Free Report) by 27.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,459 shares of the industrial products company's stock after selling 3,512 shares during the period. Clearline Capital LP's holdings in Chart Industries were worth $1,366,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Janus Henderson Group PLC increased its stake in shares of Chart Industries by 2.2% during the fourth quarter. Janus Henderson Group PLC now owns 1,608,883 shares of the industrial products company's stock valued at $307,046,000 after purchasing an additional 35,004 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Chart Industries by 9.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,169,664 shares of the industrial products company's stock valued at $168,853,000 after buying an additional 105,027 shares during the last quarter. King Luther Capital Management Corp grew its holdings in shares of Chart Industries by 1.4% during the first quarter. King Luther Capital Management Corp now owns 979,683 shares of the industrial products company's stock valued at $141,427,000 after buying an additional 13,484 shares during the last quarter. Gates Capital Management Inc. grew its holdings in shares of Chart Industries by 61.5% during the first quarter. Gates Capital Management Inc. now owns 776,636 shares of the industrial products company's stock valued at $112,115,000 after buying an additional 295,738 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Chart Industries by 3.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 536,423 shares of the industrial products company's stock valued at $77,438,000 after buying an additional 18,338 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GTLS. Raymond James Financial reiterated a "market perform" rating on shares of Chart Industries in a report on Wednesday, July 30th. Barclays cut their price target on shares of Chart Industries from $171.00 to $169.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. Citigroup cut shares of Chart Industries from a "buy" rating to a "hold" rating in a report on Friday, September 5th. The Goldman Sachs Group set a $180.00 price target on shares of Chart Industries and gave the company a "neutral" rating in a report on Wednesday, May 28th. Finally, TD Cowen cut shares of Chart Industries from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Four research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $202.00.

Chart Industries Stock Performance

GTLS stock traded down $0.65 on Friday, hitting $199.24. The company had a trading volume of 949,433 shares, compared to its average volume of 1,548,001. Chart Industries, Inc. has a 12-month low of $104.60 and a 12-month high of $220.03. The company has a current ratio of 1.55, a quick ratio of 1.27 and a debt-to-equity ratio of 1.04. The stock's 50-day simple moving average is $189.24 and its 200 day simple moving average is $163.34. The stock has a market cap of $8.96 billion, a price-to-earnings ratio of 37.03, a P/E/G ratio of 1.16 and a beta of 1.67.

Chart Industries (NYSE:GTLS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $2.59 earnings per share for the quarter, missing the consensus estimate of $2.62 by ($0.03). The business had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.11 billion. Chart Industries had a return on equity of 13.71% and a net margin of 6.29%. As a group, equities research analysts expect that Chart Industries, Inc. will post 9.02 earnings per share for the current fiscal year.

About Chart Industries

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.