one8zero8 LLC Makes New Investment in Calumet, Inc. $CLMT

one8zero8 LLC purchased a new position in shares of Calumet, Inc. (NASDAQ:CLMT) during the second quarter, Holdings Channel reports. The institutional investor purchased 186,020 shares of the oil and gas company’s stock, valued at approximately $6,700,000. Calumet makes up approximately 1.3% of one8zero8 LLC’s portfolio, making the stock its 17th biggest position.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Islay Capital Management LLC purchased a new stake in Calumet in the fourth quarter worth about $25,000. Aster Capital Management DIFC Ltd grew its holdings 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 in the last quarter. Global Retirement Partners LLC purchased a new position in Calumet during the 4th quarter valued at about $34,000. Covestor Ltd increased its position in Calumet by 29.1% during the 4th 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 period. Finally, Advisory Services Network LLC bought a new stake in shares of Calumet in the 3rd quarter valued at about $59,000. 34.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Calumet news, Director Daniel J. Sajkowski sold 4,240 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $36.16, for a total value of $153,318.40. Following the completion of the sale, the director directly owned 77,718 shares in the company, valued at $2,810,282.88. This trade represents a 5.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.15% of the stock is owned by insiders.

Calumet Stock Performance

Shares of Calumet stock opened at $49.19 on Thursday. The company has a market capitalization of $4.32 billion, a PE ratio of -31.74 and a beta of 0.71. The company has a 50-day simple moving average of $39.93 and a two-hundred day simple moving average of $34.21. Calumet, Inc. has a one year low of $13.19 and a one year high of $51.50.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CLMT. Citigroup reaffirmed a “buy” rating on shares of Calumet in a research report on Monday, August 10th. TD Cowen boosted their price objective on shares of Calumet from $34.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, August 12th. The Goldman Sachs Group upped their target price on Calumet from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Calumet in a research report on Friday, August 7th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.75.

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.