Calumet, Inc. $CLMT Shares Sold by Knott David M Jr

Knott David M Jr trimmed its stake in shares of Calumet, Inc. (NASDAQ:CLMT) by 13.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,825,231 shares of the oil and gas company’s stock after selling 450,000 shares during the quarter. Calumet makes up 20.8% of Knott David M Jr’s holdings, making the stock its biggest holding. Knott David M Jr’s holdings in Calumet were worth $51,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Amalgamated Bank acquired a new stake in Calumet during the 2nd quarter valued at approximately $37,000. ProShare Advisors LLC bought a new position in Calumet during the 2nd quarter worth approximately $223,000. Geode Capital Management LLC lifted its position in shares of Calumet by 112.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,704,670 shares of the oil and gas company’s stock worth $26,860,000 after purchasing an additional 901,933 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Calumet in the 2nd quarter worth approximately $245,000. Finally, Intech Investment Management LLC bought a new stake in shares of Calumet in the 2nd quarter valued at $518,000. 34.41% of the stock is owned by institutional investors and hedge funds.

Calumet Stock Up 0.4%

Shares of NASDAQ CLMT opened at $30.40 on Friday. The firm has a market cap of $2.64 billion, a PE ratio of -77.95 and a beta of 1.18. Calumet, Inc. has a 12-month low of $7.68 and a 12-month high of $31.41. The company’s fifty day simple moving average is $23.98 and its 200 day simple moving average is $20.44.

Calumet (NASDAQ:CLMT) last posted its quarterly earnings results on Friday, February 27th. The oil and gas company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.67) by $0.24. The company had revenue of ($3,098.50) million during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm posted ($0.47) earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts predict that Calumet, Inc. will post -3.02 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on CLMT. 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 report on Thursday. HC Wainwright reaffirmed a “buy” rating and set a $33.00 price target on shares of Calumet in a research report on Monday, November 10th. The Goldman Sachs Group increased their price target on Calumet from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Calumet in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded Calumet from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $24.00.

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.