UBS Group AG Buys 169,900 Shares of Calumet, Inc. $CLMT

UBS Group AG lifted its stake in Calumet, Inc. (NASDAQ:CLMT) by 90.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 358,628 shares of the oil and gas company’s stock after purchasing an additional 169,900 shares during the quarter. UBS Group AG’s holdings in Calumet were worth $7,126,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Calumet by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 4,703,040 shares of the oil and gas company’s stock worth $93,449,000 after buying an additional 58,376 shares during the period. CWM LLC boosted 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 worth $60,000 after buying an additional 2,998 shares during the period. DAVENPORT & Co LLC bought a new position in Calumet in the 4th quarter worth $334,000. SG Americas Securities LLC boosted its holdings in 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 during the period. Finally, BlueCrest Capital Management Ltd boosted its holdings in 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 during the period. Institutional investors own 34.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CLMT. The Goldman Sachs Group downgraded shares of Calumet from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a report on Friday, April 24th. UBS Group reaffirmed a “neutral” rating and issued a $26.00 target price on shares of Calumet in a report on Friday, February 13th. TD Cowen upped their target price on shares of Calumet from $19.00 to $25.00 and gave the stock a “hold” rating in a report on Thursday, March 5th. Weiss Ratings raised shares of Calumet from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Finally, HC Wainwright upped their target price on shares of Calumet from $33.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, March 30th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $36.75.

Insider Activity

In other Calumet news, Director Daniel J. Sajkowski sold 3,310 shares of the firm’s 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 completion of the transaction, the director owned 81,958 shares of the company’s stock, valued at approximately $2,824,272.68. This trade represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.07% of the company’s stock.

Calumet Trading Up 3.1%

Shares of NASDAQ CLMT opened at $32.35 on Tuesday. The firm’s 50-day moving average price is $31.85 and its 200-day moving average price is $25.32. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of -14.98 and a beta of 0.72. Calumet, Inc. has a 12-month low of $12.70 and a 12-month high of $36.94.

Calumet (NASDAQ:CLMT) last issued its 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 firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the business posted ($1.87) earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, equities analysts predict that Calumet, Inc. will post -0.31 EPS for the current fiscal year.

About Calumet

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.