SG Americas Securities LLC Reduces Stock Position in Calumet, Inc. $CLMT

SG Americas Securities LLC decreased its position in Calumet, Inc. (NASDAQ:CLMT) by 51.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,293 shares of the oil and gas company’s stock after selling 17,455 shares during the quarter. SG Americas Securities LLC’s holdings in Calumet were worth $585,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Islay Capital Management LLC purchased a new position in shares of Calumet during the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd grew its position in shares of Calumet by 294.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 1,229 shares during the period. Global Retirement Partners LLC acquired a new position in Calumet in the fourth quarter valued at $34,000. Covestor Ltd lifted its position in Calumet by 29.1% during the fourth quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock worth $43,000 after buying an additional 492 shares during the period. Finally, Advisory Services Network LLC purchased a new position in Calumet during the third quarter worth about $59,000. 34.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on CLMT. HC Wainwright lifted their price target on Calumet from $33.00 to $60.00 and gave the company a “buy” rating in a report 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 on the stock. in a report on Friday, April 24th. Weiss Ratings upgraded shares of Calumet from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Finally, TD Cowen restated a “hold” rating on shares of Calumet in a report on Wednesday, June 3rd. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $36.75.

Calumet Trading Up 0.8%

NASDAQ CLMT opened at $37.17 on Wednesday. The stock has a market cap of $3.24 billion, a P/E ratio of -17.21 and a beta of 0.72. The company’s fifty day simple moving average is $34.05 and its 200-day simple moving average is $29.21. Calumet, Inc. has a 52 week low of $12.94 and a 52 week high of $38.75.

Calumet (NASDAQ:CLMT) last released its quarterly earnings results on Friday, May 8th. The oil and gas company reported ($3.64) earnings per share (EPS) 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 analysts’ expectations of $1 billion. During the same quarter last year, the business earned ($1.87) earnings per share. Calumet’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, research analysts expect that Calumet, Inc. will post -0.28 EPS for the current fiscal year.

Insider Activity

In related news, Director Daniel J. Sajkowski sold 4,240 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $36.16, for a total value of $153,318.40. Following the completion of the transaction, the director owned 77,718 shares of the company’s stock, valued at approximately $2,810,282.88. This represents a 5.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Group Heritage sold 626,998 shares of the stock in a transaction dated 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 completion of the transaction, the insider directly owned 12,980,211 shares of the company’s stock, valued at $422,376,065.94. This represents a 4.61% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.07% of the stock is owned by company insiders.

Calumet 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.