Russell Investments Group Ltd. Buys 30,990 Shares of Calumet, Inc. $CLMT

Russell Investments Group Ltd. grew its stake in shares of Calumet, Inc. (NASDAQ:CLMT - Free Report) by 239.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 43,935 shares of the oil and gas company's stock after buying an additional 30,990 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.05% of Calumet worth $1,583,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Islay Capital Management LLC bought a new position in shares of Calumet in the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd grew its position in Calumet by 294.7% during 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 acquiring an additional 1,229 shares during the last quarter. Global Retirement Partners LLC acquired a new position in Calumet in the 4th quarter worth about $34,000. KBC Group NV acquired a new position in Calumet in the 1st quarter worth about $69,000. Finally, Covestor Ltd raised its position 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 during the last quarter. Institutional investors own 34.41% of the company's stock.

Insider Buying and Selling at Calumet

In other 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 directly owned 77,718 shares of the company's stock, valued at $2,810,282.88. The trade was a 5.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.15% of the company's stock.

Wall Street Analysts Forecast Growth

CLMT has been the topic of a number of recent research reports. Citigroup reissued a "buy" rating on shares of Calumet in a research note on Monday, August 10th. TD Cowen upped their price objective on Calumet from $34.00 to $40.00 and gave the company a "hold" rating in a research note on Wednesday. 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 note on Thursday, July 30th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Calumet in a report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Calumet currently has an average rating of "Hold" and a consensus price target of $41.50.

Calumet Stock Down 2.2%

Shares of NASDAQ CLMT opened at $47.72 on Friday. Calumet, Inc. has a twelve month low of $12.94 and a twelve month high of $49.17. The firm has a fifty day simple moving average of $39.04 and a 200 day simple moving average of $33.55. The company has a market capitalization of $4.19 billion, a PE ratio of -30.79 and a beta of 0.71.

Calumet (NASDAQ:CLMT - Get Free Report) last released its earnings results on Friday, August 7th. The oil and gas company reported ($1.09) earnings per share (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 analyst estimates of $1.12 billion. During the same quarter last year, the firm posted ($1.70) EPS. The firm's revenue for the quarter was up 40.8% compared to the same quarter last year. As a group, equities analysts expect that Calumet, Inc. will post 0.46 earnings per share for the current fiscal year.

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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