Healthcare of Ontario Pension Plan Trust Fund Boosts Stock Position in Calumet, Inc. $CLMT

Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Calumet, Inc. (NASDAQ:CLMT) by 107.0% during the 1st quarter, Holdings Channel reports. The firm owned 97,741 shares of the oil and gas company’s stock after buying an additional 50,530 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Calumet were worth $3,509,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CLMT. Renaissance Technologies LLC purchased a new stake in Calumet in the 1st quarter worth approximately $14,066,000. State of Wyoming bought a new position in shares of Calumet during the first quarter valued at approximately $268,000. First Trust Advisors LP lifted its stake in Calumet by 36.2% in the first quarter. First Trust Advisors LP now owns 347,486 shares of the oil and gas company’s stock worth $12,475,000 after acquiring an additional 92,368 shares during the period. Baader Bank Aktiengesellschaft purchased a new stake in Calumet in the first quarter worth $359,000. Finally, KBC Group NV bought a new stake in Calumet in the first quarter valued at $69,000. Institutional investors own 34.41% of the company’s stock.

Insider Activity at Calumet

In related news, Director Daniel J. Sajkowski sold 4,240 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $36.16, for a total transaction of $153,318.40. Following the completion of the transaction, the director owned 77,718 shares of the company’s stock, valued at $2,810,282.88. This trade represents a 5.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Group Heritage sold 626,998 shares of Calumet stock in a transaction on Friday, May 15th. The shares were sold at an average price of $32.54, for a total value of $20,402,514.92. Following the transaction, the insider owned 12,980,211 shares of the company’s stock, valued at $422,376,065.94. The trade was a 4.61% decrease in their position. The SEC filing for this sale provides additional information. 4.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CLMT has been the subject of several research reports. The Goldman Sachs Group upped their price objective on shares of Calumet from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday. Weiss Ratings upgraded shares of Calumet from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Finally, TD Cowen reissued a “hold” rating on shares of Calumet in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $37.75.

Calumet Trading Up 3.2%

CLMT opened at $43.75 on Friday. The company has a market cap of $3.81 billion, a price-to-earnings ratio of -20.25 and a beta of 0.72. The stock has a fifty day simple moving average of $37.13 and a two-hundred day simple moving average of $31.81. Calumet, Inc. has a 12-month low of $12.94 and a 12-month high of $45.20.

Calumet (NASDAQ:CLMT) last announced its earnings results on Friday, May 8th. The oil and gas company reported ($3.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($3.31). The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1 billion. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.87) EPS. On average, analysts predict that Calumet, Inc. will post -0.13 EPS for the current year.

About Calumet

Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) is an independent provider of high-value, essential product solutions derived from both petroleum and renewable feedstocks. The company operates an integrated network of manufacturing plants, blending terminals and storage facilities across North America, delivering customized products and technical services to industrial, automotive, consumer and agricultural end markets. By leveraging its scale and technical expertise, Calumet tailors supply chain and formulation solutions to meet stringent regulatory and performance requirements.

Calumet’s product portfolio includes specialty lubricants and base oils for high-performance applications; process oils and waxes for food-grade, cosmetic and packaging uses; industrial solvents and cleaning solutions; and fuel additives designed to optimize engine performance and emissions.