Hsbc Holdings PLC Purchases New Holdings in Calumet, Inc. $CLMT

Hsbc Holdings PLC acquired a new position in Calumet, Inc. (NASDAQ:CLMT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 87,004 shares of the oil and gas company’s stock, valued at approximately $3,059,000. Hsbc Holdings PLC owned about 0.10% of Calumet at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CLMT. Vanguard Group Inc. grew its position in Calumet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 4,703,040 shares of the oil and gas company’s stock valued at $93,449,000 after buying an additional 58,376 shares during the period. Marshall Wace LLP raised its holdings in shares of Calumet by 35.8% in the 3rd quarter. Marshall Wace LLP now owns 891,390 shares of the oil and gas company’s stock worth $16,268,000 after purchasing an additional 234,766 shares during the period. Bank of America Corp DE grew its holdings in Calumet by 3.4% during the second quarter. Bank of America Corp DE now owns 609,307 shares of the oil and gas company’s stock valued at $9,600,000 after purchasing an additional 20,110 shares during the period. Mariner LLC increased its position in Calumet by 959.6% in the third quarter. Mariner LLC now owns 369,408 shares of the oil and gas company’s stock worth $6,742,000 after buying an additional 334,544 shares during the last quarter. Finally, UBS Group AG raised its stake in shares of Calumet by 90.0% in the fourth quarter. UBS Group AG now owns 358,628 shares of the oil and gas company’s stock valued at $7,126,000 after buying an additional 169,900 shares during the period. 34.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Calumet

In related news, Director Daniel J. Sajkowski sold 4,240 shares of the business’s stock in a transaction dated 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 directly owned 77,718 shares in the company, valued at $2,810,282.88. The trade was a 5.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Group Heritage sold 626,998 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $32.54, for a total value of $20,402,514.92. Following the completion of the transaction, the insider owned 12,980,211 shares in the company, valued at $422,376,065.94. This represents a 4.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.07% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CLMT. TD Cowen reissued a “hold” rating on shares of Calumet in a report on Wednesday, June 3rd. HC Wainwright upped their price target on shares of Calumet from $33.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, March 30th. The Goldman Sachs Group lowered shares of Calumet from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research note on Friday, April 24th. Finally, Weiss Ratings raised Calumet from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $36.75.

Calumet Trading Down 2.6%

Calumet stock opened at $41.69 on Friday. Calumet, Inc. has a 1-year low of $12.94 and a 1-year high of $45.20. The firm has a market capitalization of $3.63 billion, a PE ratio of -19.30 and a beta of 0.72. The firm’s 50 day simple moving average is $36.34 and its 200 day simple moving average is $31.10.

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

Calumet Company Profile

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.