Melqart Asset Management UK Ltd Invests $50.78 Million in Chart Industries, Inc. $GTLS

Melqart Asset Management UK Ltd acquired a new position in Chart Industries, Inc. (NYSE:GTLS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 246,240 shares of the industrial products company’s stock, valued at approximately $50,782,000. Chart Industries comprises about 5.0% of Melqart Asset Management UK Ltd’s portfolio, making the stock its 4th biggest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GTLS. Norges Bank purchased a new stake in Chart Industries during the fourth quarter valued at about $237,827,000. Balyasny Asset Management L.P. increased its stake in shares of Chart Industries by 2,251.3% in the third quarter. Balyasny Asset Management L.P. now owns 1,018,831 shares of the industrial products company’s stock worth $203,919,000 after purchasing an additional 975,501 shares in the last quarter. Millennium Management LLC increased its stake in shares of Chart Industries by 222.7% in the third quarter. Millennium Management LLC now owns 813,865 shares of the industrial products company’s stock worth $162,895,000 after purchasing an additional 561,622 shares in the last quarter. UBS Group AG raised its position in shares of Chart Industries by 76.9% in the fourth quarter. UBS Group AG now owns 1,180,965 shares of the industrial products company’s stock valued at $243,550,000 after purchasing an additional 513,195 shares during the period. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Chart Industries in the third quarter valued at approximately $92,938,000.

Chart Industries Stock Up 0.3%

GTLS stock opened at $207.30 on Wednesday. The stock has a 50-day simple moving average of $207.57 and a two-hundred day simple moving average of $206.96. Chart Industries, Inc. has a twelve month low of $140.50 and a twelve month high of $208.76. The firm has a market capitalization of $9.92 billion, a PE ratio of 797.35, a PEG ratio of 1.22 and a beta of 1.53. The company has a quick ratio of 1.21, a current ratio of 1.53 and a debt-to-equity ratio of 1.15.

Analysts Set New Price Targets

Several research analysts recently commented on GTLS shares. Zacks Research downgraded shares of Chart Industries from a “hold” rating to a “strong sell” rating in a report on Monday, April 27th. Wall Street Zen cut shares of Chart Industries from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Chart Industries in a research report on Friday, March 27th. Eleven analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $201.80.

About Chart Industries

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.