Vanguard Group Inc. Acquires 58,376 Shares of Calumet, Inc. $CLMT

Vanguard Group Inc. grew its holdings in Calumet, Inc. (NASDAQ:CLMT) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,703,040 shares of the oil and gas company’s stock after acquiring an additional 58,376 shares during the period. Vanguard Group Inc. owned 5.42% of Calumet worth $93,449,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Great Lakes Advisors LLC bought a new position in Calumet in the third quarter worth approximately $3,088,000. Quantbot Technologies LP raised its position in Calumet by 364.8% in the third quarter. Quantbot Technologies LP now owns 70,973 shares of the oil and gas company’s stock worth $1,295,000 after acquiring an additional 55,705 shares during the period. Lombard Odier Asset Management USA Corp bought a new position in Calumet in the third quarter worth approximately $2,327,000. Citigroup Inc. raised its position in Calumet by 111.7% in the third quarter. Citigroup Inc. now owns 180,779 shares of the oil and gas company’s stock worth $3,299,000 after acquiring an additional 95,383 shares during the period. Finally, DAVENPORT & Co LLC bought a new position in Calumet in the fourth quarter worth approximately $334,000. 34.41% of the stock is currently owned by institutional investors.

Calumet Trading Down 2.1%

NASDAQ:CLMT opened at $31.43 on Thursday. Calumet, Inc. has a 12-month low of $12.70 and a 12-month high of $36.94. The stock has a 50-day moving average price of $31.70 and a 200 day moving average price of $25.08. The stock has a market capitalization of $2.73 billion, a P/E ratio of -14.55 and a beta of 0.72.

Calumet (NASDAQ:CLMT) last posted its earnings results on Friday, May 8th. The oil and gas company reported ($3.64) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($3.31). The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1 billion. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned ($1.87) earnings per share. On average, research analysts predict that Calumet, Inc. will post -0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CLMT has been the subject of a number of analyst reports. The Goldman Sachs Group cut 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. HC Wainwright increased their price objective on shares of Calumet from $33.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, March 30th. TD Cowen increased their price objective on shares of Calumet from $19.00 to $25.00 and gave the stock a “hold” rating in a research note on Thursday, March 5th. UBS Group restated a “neutral” rating and issued a $26.00 price objective on shares of Calumet in a research report on Friday, February 13th. Finally, Weiss Ratings upgraded Calumet from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. One 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 company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $36.75.

Insider Transactions at Calumet

In other Calumet news, Director Daniel J. Sajkowski sold 3,310 shares of Calumet stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $34.46, for a total value of $114,062.60. Following the sale, the director directly owned 81,958 shares in the company, valued at approximately $2,824,272.68. The trade was a 3.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.07% of the company’s stock.

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.