Reasons for the Decline of Chart Industries (GTLS) in Q4

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. After underwhelming results in Q3, mid-cap stocks made impressive gains in Q4. Mid-cap stocks had a positive year, with every sector performing well. The Russell Midcap Growth Index (up 25.86%) outperformed the Russell Midcap Value Index (up 12.66%) by a significant margin. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Carillon Eagle Mid Cap Growth Fund featured stocks such as Chart Industries, Inc. (NYSE:GTLS) in the fourth quarter 2023 investor letter. Headquartered in Ball Ground, Georgia, Chart Industries, Inc. (NYSE:GTLS) manufactures engineered equipment for the energy and industrial gas industries. On January 31, 2024, Chart Industries, Inc. (NYSE:GTLS) stock closed at $116.72 per share. One-month return of Chart Industries, Inc. (NYSE:GTLS) was -12.29%, and its shares lost 15.43% of their value over the last 52 weeks. Chart Industries, Inc. (NYSE:GTLS) has a market capitalization of $4.99 billion.

Carillon Eagle Mid Cap Growth Fund stated the following regarding Chart Industries, Inc. (NYSE:GTLS) in its fourth quarter 2023 investor letter:

Chart Industries, Inc. (NYSE:GTLS) manufactures highly engineered equipment servicing multiple applications in the energy and industrial gas markets. The company’s stock price came under pressure after it released a disappointing quarterly report, and its earnings came in below investor expectations across a number of metrics. Company commentary also suggested that some sales would be pushed out into 2024. We have since sold the stock.”

A drilling crew in a gas field, showing their hard work in the energy industry.

Chart Industries, Inc. (NYSE:GTLS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held Chart Industries, Inc. (NYSE:GTLS) at the end of third quarter which was 37 in the previous quarter.

We discussed Chart Industries, Inc. (NYSE:GTLS) in another article and shared the list of small-cap stocks to buy from top investors’ stock portfolio. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.