Janus Henderson Group PLC Buys 186,648 Shares of Calumet, Inc. $CLMT

Key Points

• Janus Henderson significantly increased its Calumet stake, purchasing 186,648 additional shares in the first quarter and raising its position by 596.3% to 217,948 shares, worth approximately $7.8 million.
• Calumet reported a substantial quarterly earnings miss, posting a loss of $3.64 per share versus analyst expectations of a $0.33 loss, although revenue rose 3.6% year over year to $1.03 billion.
• Analysts maintain a consensus “Hold” rating with an average price target of $37.75, below the stock’s reported opening price of $40.26; insiders also recently sold shares.

Janus Henderson Group PLC boosted its position in shares of Calumet, Inc. (NASDAQ:CLMT - Free Report) by 596.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 217,948 shares of the oil and gas company's stock after buying an additional 186,648 shares during the quarter. Janus Henderson Group PLC owned 0.25% of Calumet worth $7,824,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Covestor Ltd boosted its stake in shares of Calumet by 29.1% during the 4th quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company's stock worth $43,000 after purchasing an additional 492 shares during the period. ProShare Advisors LLC raised its position in Calumet by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 12,613 shares of the oil and gas company's stock worth $251,000 after purchasing an additional 817 shares during the period. Aster Capital Management DIFC Ltd raised its position in Calumet by 294.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company's stock worth $33,000 after purchasing an additional 1,229 shares during the period. Islay Capital Management LLC bought a new stake in Calumet in the fourth quarter worth about $25,000. Finally, Global Retirement Partners LLC bought a new stake in Calumet in the fourth quarter worth about $34,000. Institutional investors own 34.41% of the company's stock.

Calumet Stock Down 3.1%

Shares of NASDAQ:CLMT opened at $40.26 on Thursday. Calumet, Inc. has a 52-week low of $12.94 and a 52-week high of $45.20. The stock has a market cap of $3.51 billion, a P/E ratio of -18.64 and a beta of 0.71. The business's 50 day moving average is $37.77 and its 200 day moving average is $32.43.

Calumet (NASDAQ:CLMT - Get Free Report) last issued its earnings results on Friday, May 8th. The oil and gas company reported ($3.64) earnings per share for the quarter, missing analysts' consensus estimates of ($0.33) by ($3.31). The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1 billion. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.87) earnings per share. On average, sell-side analysts anticipate that Calumet, Inc. will post -0.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CLMT has been the topic of a number of analyst reports. Weiss Ratings raised Calumet from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, May 11th. TD Cowen restated a "hold" rating on shares of Calumet in a report on Wednesday, June 3rd. Finally, The Goldman Sachs Group upped their price objective on Calumet from $36.00 to $40.00 and gave the company a "neutral" rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $37.75.

Insider Transactions at Calumet

In other news, major shareholder Group Heritage sold 626,998 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $32.54, for a total transaction of $20,402,514.92. Following the transaction, the insider directly owned 12,980,211 shares in the company, valued at approximately $422,376,065.94. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel J. Sajkowski sold 4,240 shares of Calumet stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $36.16, for a total transaction of $153,318.40. Following 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 ownership of the stock. The SEC filing for this sale provides additional information. 3.15% of the stock is owned by corporate insiders.

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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