First Trust Advisors LP Acquires 92,368 Shares of Calumet, Inc. $CLMT

First Trust Advisors LP grew its holdings in Calumet, Inc. (NASDAQ:CLMT - Free Report) by 36.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 347,486 shares of the oil and gas company's stock after purchasing an additional 92,368 shares during the period. First Trust Advisors LP owned about 0.40% of Calumet worth $12,475,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CLMT. Legal & General Group Plc boosted its holdings in Calumet by 36.6% during the second quarter. Legal & General Group Plc now owns 72,143 shares of the oil and gas company's stock worth $1,137,000 after purchasing an additional 19,322 shares during the last quarter. New York State Common Retirement Fund acquired a new stake in Calumet in the 2nd quarter valued at $343,000. Quantbot Technologies LP bought a new stake in Calumet during the 2nd quarter worth about $241,000. Invesco Ltd. lifted its position in Calumet by 514.8% during the 2nd quarter. Invesco Ltd. now owns 94,642 shares of the oil and gas company's stock worth $1,491,000 after buying an additional 79,247 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Calumet by 199.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,551 shares of the oil and gas company's stock worth $544,000 after buying an additional 23,031 shares during the last quarter. Institutional investors own 34.41% of the company's stock.

Insider Transactions at Calumet

In other news, Director Daniel J. Sajkowski sold 4,240 shares of Calumet stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $36.16, for a total transaction of $153,318.40. Following the completion of the transaction, the director directly owned 77,718 shares in the company, valued at approximately $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 can be accessed through this link. Also, major shareholder Group Heritage sold 626,998 shares of Calumet stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $32.54, for a total value of $20,402,514.92. Following the transaction, the insider owned 12,980,211 shares of the company's stock, valued at $422,376,065.94. This represents a 4.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 4.07% of the company's stock.

Analyst Upgrades and Downgrades

CLMT has been the subject of several analyst reports. TD Cowen restated a "hold" rating on shares of Calumet in a report on Wednesday, June 3rd. The Goldman Sachs Group increased their price target on Calumet from $36.00 to $40.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Weiss Ratings upgraded Calumet from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $37.75.

Calumet Price Performance

Shares of CLMT stock opened at $43.75 on Friday. The company has a fifty day moving average price of $37.13 and a two-hundred day moving average price of $31.81. Calumet, Inc. has a one year low of $12.94 and a one year high of $45.20. The stock has a market cap of $3.81 billion, a P/E ratio of -20.25 and a beta of 0.72.

Calumet (NASDAQ:CLMT - Get Free Report) last released its quarterly earnings data on Friday, May 8th. The oil and gas company reported ($3.64) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($3.31). The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1 billion. Calumet's revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.87) EPS. As a group, equities research analysts anticipate that Calumet, Inc. will post -0.13 EPS for the current fiscal year.

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.

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