Calumet, Inc. $CLMT Position Boosted by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management increased its Calumet stake by 19.5% in the second quarter, holding 155,584 shares worth approximately $5.6 million. Institutional investors and hedge funds collectively own 34.41% of the company.
• Analyst sentiment remains mixed: Calumet has an average “Hold” rating and a consensus price target of $51.75, although HC Wainwright raised its target to $75 with a “Buy” rating.
• Calumet shares opened at $53.91 after rising 1.5%, near their 52-week high of $54.69. The company reported revenue growth of 40.8% year over year but missed quarterly earnings expectations, posting a loss of $1.09 per share versus the expected $0.07 profit.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Calumet, Inc. (NASDAQ:CLMT - Free Report) by 19.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 155,584 shares of the oil and gas company's stock after purchasing an additional 25,348 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.18% of Calumet worth $5,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Islay Capital Management LLC purchased a new stake in Calumet in the 4th quarter worth approximately $25,000. Aster Capital Management DIFC Ltd boosted its position in 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 valued at $33,000 after purchasing an additional 1,229 shares during the last quarter. Global Retirement Partners LLC purchased a new position in Calumet in the fourth quarter valued at about $34,000. Covestor Ltd grew its stake in Calumet by 29.1% in the fourth quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company's stock valued at $43,000 after purchasing an additional 492 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in Calumet in the 3rd quarter worth about $59,000. 34.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Daniel Sajkowski sold 4,240 shares of the company's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $36.16, for a total transaction of $153,318.40. Following the completion of the transaction, the director owned 77,718 shares of the company's stock, valued at approximately $2,810,282.88. This represents a 5.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.15% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Calumet in a report on Friday, August 7th. HC Wainwright raised their price objective on shares of Calumet from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, September 2nd. TD Cowen lifted their target price on shares of Calumet from $34.00 to $40.00 and gave the company a "hold" rating in a research note on Wednesday, August 12th. The Goldman Sachs Group lifted their target price on shares of Calumet from $40.00 to $45.00 and gave the company a "neutral" rating in a research note on Tuesday, August 18th. Finally, Citigroup restated a "buy" rating on shares of Calumet in a research note on Monday, August 10th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $51.75.

Calumet Trading Up 1.5%

Shares of Calumet stock opened at $53.91 on Wednesday. Calumet, Inc. has a 1 year low of $17.08 and a 1 year high of $54.69. The company's fifty day simple moving average is $44.46 and its 200-day simple moving average is $36.60. The company has a market cap of $4.74 billion, a price-to-earnings ratio of -34.78 and a beta of 0.72.

Calumet (NASDAQ:CLMT - Get Free Report) last released its 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 in the prior year, the firm posted ($1.70) EPS. Calumet's revenue was up 40.8% on a year-over-year basis. As a group, research analysts forecast that Calumet, Inc. will post 0.48 earnings per share for the current fiscal year.

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.

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