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

Vanguard Group Inc. raised its stake in Calumet, Inc. (NASDAQ:CLMT) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,703,040 shares of the oil and gas company’s stock after purchasing an additional 58,376 shares during the quarter. Vanguard Group Inc. owned about 0.05% of Calumet worth $93,449,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. CWM LLC increased its holdings in Calumet by 149,900.0% in the 4th quarter. CWM LLC now owns 3,000 shares of the oil and gas company’s stock valued at $60,000 after acquiring an additional 2,998 shares during the last quarter. DAVENPORT & Co LLC purchased a new position in shares of Calumet in the 4th quarter worth $334,000. SG Americas Securities LLC grew its stake in shares of Calumet by 46.8% in the 4th quarter. SG Americas Securities LLC now owns 33,748 shares of the oil and gas company’s stock worth $671,000 after buying an additional 10,756 shares in the last quarter. BlueCrest Capital Management Ltd grew its stake in shares of Calumet by 25.0% in the 3rd quarter. BlueCrest Capital Management Ltd now owns 60,000 shares of the oil and gas company’s stock worth $1,095,000 after buying an additional 12,000 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of Calumet in the 3rd quarter worth $353,000. 34.41% of the stock is currently owned by institutional investors.

Insider Activity at Calumet

In related news, Director Daniel J. Sajkowski sold 3,310 shares of Calumet stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $34.46, for a total transaction of $114,062.60. Following the completion of the transaction, the director directly owned 81,958 shares of the company’s stock, valued at approximately $2,824,272.68. The trade was a 3.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.07% of the company’s stock.

Calumet Trading Down 2.1%

CLMT stock 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 company 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 cap of $2.73 billion, a PE ratio of -14.55 and a beta of 0.72.

Calumet (NASDAQ:CLMT) last released its quarterly earnings results on Friday, May 8th. The oil and gas company reported ($3.64) EPS 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. During the same period in the previous year, the company posted ($1.87) earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. Sell-side analysts forecast that Calumet, Inc. will post -0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

CLMT has been the subject of a number of recent research reports. TD Cowen lifted 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. HC Wainwright lifted 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. 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. UBS Group reissued a “neutral” rating and issued a $26.00 price objective on shares of Calumet in a research note on Friday, February 13th. Finally, Weiss Ratings raised shares of Calumet from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $36.75.

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.