Renaissance Technologies LLC Invests $14.07 Million in Calumet, Inc. $CLMT

Renaissance Technologies LLC acquired a new stake in shares of Calumet, Inc. (NASDAQ:CLMT) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 391,800 shares of the oil and gas company’s stock, valued at approximately $14,066,000.

A number of other hedge funds also recently made changes to their positions in the stock. Hsbc Holdings PLC purchased a new stake in Calumet in the 1st quarter worth approximately $3,059,000. Vanguard Group Inc. lifted its holdings 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 purchasing an additional 58,376 shares in the last quarter. First Trust Advisors LP lifted its holdings in Calumet by 36.2% during the first quarter. First Trust Advisors LP now owns 347,486 shares of the oil and gas company’s stock valued at $12,475,000 after purchasing an additional 92,368 shares in the last quarter. UBS Group AG boosted its position 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 worth $7,126,000 after purchasing an additional 169,900 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Calumet by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 210,599 shares of the oil and gas company’s stock worth $7,560,000 after purchasing an additional 3,798 shares during the period. 34.41% of the stock is currently owned by institutional investors.

Calumet Stock Performance

CLMT stock opened at $44.19 on Friday. Calumet, Inc. has a one year low of $12.94 and a one year high of $45.20. The company’s fifty day moving average price is $37.33 and its 200-day moving average price is $31.90. The company has a market capitalization of $3.85 billion, a PE ratio of -20.46 and a beta of 0.72.

Calumet (NASDAQ:CLMT) last issued 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 company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1 billion. The business’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the company posted ($1.87) EPS. On average, research analysts predict that Calumet, Inc. will post -0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of Calumet from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday. TD Cowen restated a “hold” rating on shares of Calumet in a research note on Wednesday, June 3rd. Finally, Weiss Ratings raised shares of Calumet from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Calumet presently has an average rating of “Hold” and an average target price of $37.75.

Insider Buying and Selling at Calumet

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