UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $5.60 Million Position in Calumet, Inc. $CLMT

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Calumet, Inc. (NASDAQ:CLMT) by 19.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 155,584 shares of the oil and gas company’s stock after purchasing an additional 25,348 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Calumet were worth $5,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Islay Capital Management LLC bought a new position in shares of Calumet during the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd boosted its position in shares of 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 valued at $33,000 after acquiring an additional 1,229 shares in the last quarter. Global Retirement Partners LLC bought a new stake in Calumet in the fourth quarter valued at about $34,000. Covestor Ltd increased its stake 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 acquiring an additional 492 shares during the period. Finally, Advisory Services Network LLC acquired a new position in Calumet in the third quarter worth about $59,000. Institutional investors and hedge funds own 34.41% of the company’s stock.

Calumet Trading Up 1.5%

Shares of NASDAQ:CLMT opened at $53.91 on Wednesday. The stock has a market capitalization of $4.74 billion, a P/E ratio of -34.78 and a beta of 0.72. Calumet, Inc. has a 1-year low of $17.08 and a 1-year high of $54.69. The business has a 50-day moving average price of $44.46 and a two-hundred day moving average price of $36.60.

Calumet (NASDAQ:CLMT) last issued 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 firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the business earned ($1.70) earnings per share. The company’s revenue was up 40.8% on a year-over-year basis. As a group, equities analysts predict that Calumet, Inc. will post 0.48 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Calumet in a research note on Friday, August 7th. HC Wainwright upped their price objective on Calumet from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Citigroup reissued a “buy” rating on shares of Calumet in a report on Monday, August 10th. The Goldman Sachs Group upped their price target on Calumet from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, August 18th. Finally, UBS Group boosted their target price on shares of Calumet from $26.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, August 25th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $51.75.

Insider Transactions at Calumet

In other Calumet news, Director Daniel 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 transaction, the director directly owned 77,718 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Insiders own 3.15% of the company’s stock.

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.