Chart Industries (GTLS) Shares Down 6.1% on Insider Selling

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Chart Industries, Inc. (NASDAQ:GTLS) traded down 6.1% during trading on Friday following insider selling activity. The stock traded as low as $87.27 and last traded at $88.73. 640,723 shares traded hands during trading, an increase of 75% from the average session volume of 365,506 shares. The stock had previously closed at $94.46.

Specifically, Director W Douglas Brown sold 8,500 shares of the stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $84.84, for a total value of $721,140.00. Following the transaction, the director now directly owns 9,966 shares in the company, valued at $845,515.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michael Schmit sold 464 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $92.65, for a total transaction of $42,989.60. Following the completion of the transaction, the chief accounting officer now owns 1,125 shares in the company, valued at $104,231.25. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Several research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Chart Industries from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Lake Street Capital raised their price objective on shares of Chart Industries to $109.00 and gave the company a “buy” rating in a research report on Friday, February 15th. ValuEngine upgraded shares of Chart Industries from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 15th. Gabelli downgraded shares of Chart Industries from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. Finally, BidaskClub upgraded shares of Chart Industries from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 13th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. Chart Industries has a consensus rating of “Buy” and a consensus price target of $86.31.

The stock has a market cap of $2.98 billion, a P/E ratio of 43.93 and a beta of 1.17. The company has a current ratio of 1.80, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60.

Chart Industries (NASDAQ:GTLS) last announced its quarterly earnings data on Thursday, February 14th. The industrial products company reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.07. The firm had revenue of $290.10 million for the quarter, compared to the consensus estimate of $283.50 million. Chart Industries had a net margin of 7.57% and a return on equity of 8.42%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $0.46 EPS. As a group, equities analysts forecast that Chart Industries, Inc. will post 2.79 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue grew its stake in Chart Industries by 2.2% during the fourth quarter. State of Alaska Department of Revenue now owns 10,438 shares of the industrial products company’s stock valued at $678,000 after acquiring an additional 225 shares in the last quarter. Piedmont Investment Advisors Inc. grew its stake in shares of Chart Industries by 3.8% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 7,478 shares of the industrial products company’s stock worth $486,000 after buying an additional 276 shares in the last quarter. Comerica Bank grew its stake in shares of Chart Industries by 1.0% in the 4th quarter. Comerica Bank now owns 42,693 shares of the industrial products company’s stock worth $3,094,000 after buying an additional 428 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Chart Industries by 0.7% in the 4th quarter. Legal & General Group Plc now owns 73,417 shares of the industrial products company’s stock worth $4,771,000 after buying an additional 483 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of Chart Industries by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 22,129 shares of the industrial products company’s stock worth $1,439,000 after buying an additional 486 shares in the last quarter.

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Chart Industries Company Profile (NASDAQ:GTLS)

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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