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

Russell Investments Group Ltd. grew its stake in shares of Calumet, Inc. (NASDAQ:CLMT) by 239.4% in the second quarter, HoldingsChannel.com reports. The firm owned 43,935 shares of the oil and gas company’s stock after purchasing an additional 30,990 shares during the period. Russell Investments Group Ltd.’s holdings in Calumet were worth $1,583,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Calumet by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 4,703,040 shares of the oil and gas company’s stock valued at $93,449,000 after purchasing an additional 58,376 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Calumet by 65.1% during the first quarter. Bank of America Corp DE now owns 1,153,744 shares of the oil and gas company’s stock valued at $41,419,000 after buying an additional 454,985 shares during the last quarter. Marshall Wace LLP grew its holdings in Calumet by 35.8% during the third quarter. Marshall Wace LLP now owns 891,390 shares of the oil and gas company’s stock worth $16,268,000 after buying an additional 234,766 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Calumet during the first quarter worth $14,066,000. Finally, Mariner LLC grew its holdings in Calumet by 959.6% during the third quarter. Mariner LLC now owns 369,408 shares of the oil and gas company’s stock worth $6,742,000 after buying an additional 334,544 shares in the last quarter. 34.41% of the stock is owned by hedge funds and other institutional investors.

Calumet Stock Down 2.2%

CLMT stock opened at $47.72 on Friday. The firm has a market cap of $4.19 billion, a PE ratio of -30.79 and a beta of 0.71. The business has a 50 day moving average of $39.04 and a 200-day moving average of $33.55. Calumet, Inc. has a 12-month low of $12.94 and a 12-month high of $49.17.

Calumet (NASDAQ:CLMT) last issued its quarterly earnings results on Friday, August 7th. The oil and gas company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($1.16). The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.12 billion. The company’s revenue for the quarter was up 40.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.70) EPS. On average, research analysts expect that Calumet, Inc. will post 0.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CLMT shares. TD Cowen raised 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 target price on shares of Calumet from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Calumet in a research note on Friday, August 7th. Finally, Citigroup reiterated a “buy” rating on shares of Calumet in a report on Monday, August 10th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $41.50.

Insider Transactions at Calumet

In other news, Director Daniel J. Sajkowski sold 4,240 shares of the firm’s stock in a transaction 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 sale, the director directly owned 77,718 shares of the company’s stock, valued at $2,810,282.88. This trade represents a 5.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.15% of the stock is owned by company insiders.

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.