225,437 Shares in Calumet, Inc. $CLMT Acquired by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC acquired 225,437 Calumet shares worth approximately $8.12 million, representing about 0.26% of the company. Institutional investors collectively own 34.41% of Calumet.
• Calumet reported quarterly revenue of $1.45 billion, up 40.8% year over year, but posted an adjusted loss of $1.09 per share, missing analysts’ $0.07-per-share profit estimate.
• CLMT traded at $47.75, near its 12-month high of $51.50. Analysts’ consensus rating is Hold, with an average price target of $48.00, while a company director recently sold shares worth $153,318.

Jupiter Topco LLC bought a new position in shares of Calumet, Inc. (NASDAQ:CLMT - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 225,437 shares of the oil and gas company's stock, valued at approximately $8,120,000. Jupiter Topco LLC owned approximately 0.26% of Calumet as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CLMT. Islay Capital Management LLC purchased a new stake in Calumet during the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd grew its position in shares of Calumet by 294.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company's stock worth $33,000 after buying an additional 1,229 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Calumet during the fourth quarter worth about $34,000. Covestor Ltd increased its stake in shares of 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 stake in shares of Calumet during the third quarter worth approximately $59,000. Institutional investors and hedge funds own 34.41% of the company's stock.

Insider Activity

In related news, Director Daniel J. Sajkowski sold 4,240 shares of the business's 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 transaction, the director owned 77,718 shares in the company, valued at $2,810,282.88. The trade was a 5.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.15% of the stock is currently owned by corporate insiders.

Calumet Stock Performance

CLMT stock opened at $47.75 on Monday. The company has a market capitalization of $4.20 billion, a P/E ratio of -30.81 and a beta of 0.71. The business has a 50 day simple moving average of $41.91 and a 200-day simple moving average of $35.37. Calumet, Inc. has a twelve month low of $15.99 and a twelve month high of $51.50.

Calumet (NASDAQ:CLMT - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The oil and gas company reported ($1.09) EPS for the quarter, missing the consensus estimate of $0.07 by ($1.16). The company had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same period last year, the business posted ($1.70) EPS. Calumet's revenue was up 40.8% compared to the same quarter last year. Research analysts predict that Calumet, Inc. will post 0.46 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on CLMT. Citigroup reiterated a "buy" rating on shares of Calumet in a report on Monday, August 10th. The Goldman Sachs Group lifted their price objective on shares of Calumet from $40.00 to $45.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 18th. TD Cowen increased their target price on Calumet from $34.00 to $40.00 and gave the company a "hold" rating in a report on Wednesday, August 12th. Weiss Ratings restated a "sell (d-)" rating on shares of Calumet in a research note on Friday, August 7th. Finally, UBS Group upped their price objective on Calumet from $26.00 to $47.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 25th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $48.00.

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.

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