Healthcare of Ontario Pension Plan Trust Fund Grows Holdings in Calumet, Inc. $CLMT

Healthcare of Ontario Pension Plan Trust Fund raised its stake in Calumet, Inc. (NASDAQ:CLMT) by 107.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 owned about 0.11% of Calumet worth $3,509,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CLMT. Islay Capital Management LLC purchased a new position in Calumet in the fourth quarter worth $25,000. Aster Capital Management DIFC Ltd lifted its stake in Calumet by 294.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 1,229 shares during the last quarter. Global Retirement Partners LLC bought a new stake in Calumet during the fourth quarter worth about $34,000. Covestor Ltd boosted its holdings in shares of Calumet by 29.1% in the 4th quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 492 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Calumet in the 3rd quarter worth about $59,000. Hedge funds and other institutional investors own 34.41% of the company’s stock.

Analyst Upgrades and Downgrades

CLMT has been the topic of a number of research reports. TD Cowen reissued a “hold” rating on shares of Calumet in a report on Wednesday, June 3rd. 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, The Goldman Sachs Group increased their price target on shares of Calumet from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $37.75.

Insider Activity at Calumet

In other news, major shareholder Group Heritage sold 626,998 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $32.54, for a total transaction of $20,402,514.92. Following the completion of the sale, the insider owned 12,980,211 shares of the company’s stock, valued at approximately $422,376,065.94. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 in the company, valued at $2,810,282.88. This represents a 5.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 4.07% of the company’s stock.

Calumet Trading Up 3.2%

CLMT opened at $43.75 on Friday. The company has a market cap of $3.81 billion, a P/E ratio of -20.25 and a beta of 0.72. The business’s 50-day moving average price is $37.13 and its 200-day moving average price is $31.81. Calumet, Inc. has a 12 month low of $12.94 and a 12 month high of $45.20.

Calumet (NASDAQ:CLMT) last released its earnings results on Friday, May 8th. The oil and gas company reported ($3.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($3.31). The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period in the previous year, the business posted ($1.87) earnings per share. The company’s revenue was up 3.6% compared to the same quarter last year. Equities research analysts forecast that Calumet, Inc. will post -0.13 earnings per share for the current fiscal 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.