Lombard Odier Asset Management USA Corp Reduces Stock Position in Calumet, Inc. $CLMT

Lombard Odier Asset Management USA Corp cut its stake in Calumet, Inc. (NASDAQ:CLMT) by 21.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,095 shares of the oil and gas company’s stock after selling 27,405 shares during the quarter. Lombard Odier Asset Management USA Corp owned about 0.12% of Calumet worth $1,989,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Calumet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 4,703,040 shares of the oil and gas company’s stock worth $93,449,000 after purchasing an additional 58,376 shares in the last quarter. Marshall Wace LLP raised its holdings in Calumet by 35.8% in the 3rd quarter. Marshall Wace LLP now owns 891,390 shares of the oil and gas company’s stock worth $16,268,000 after purchasing an additional 234,766 shares in the last quarter. Bank of America Corp DE raised its holdings in Calumet by 3.4% in the 2nd quarter. Bank of America Corp DE now owns 609,307 shares of the oil and gas company’s stock worth $9,600,000 after purchasing an additional 20,110 shares in the last quarter. Mariner LLC raised its holdings in Calumet by 959.6% in the 3rd quarter. Mariner LLC now owns 369,408 shares of the oil and gas company’s stock worth $6,742,000 after purchasing an additional 334,544 shares in the last quarter. Finally, UBS Group AG raised its holdings in Calumet by 90.0% in the 4th quarter. UBS Group AG now owns 358,628 shares of the oil and gas company’s stock worth $7,126,000 after purchasing an additional 169,900 shares in the last quarter. 34.41% of the stock is currently owned by institutional investors.

Insider Activity

In related news, major shareholder Group Heritage sold 626,998 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $32.54, for a total value of $20,402,514.92. Following the completion of the transaction, the insider directly owned 12,980,211 shares in the company, valued at $422,376,065.94. This trade represents a 4.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel J. Sajkowski sold 3,310 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $34.46, for a total transaction of $114,062.60. Following the completion of the transaction, the director owned 81,958 shares of the company’s stock, valued at approximately $2,824,272.68. The trade was a 3.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CLMT shares. The Goldman Sachs Group lowered shares of Calumet from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a report on Friday, April 24th. TD Cowen restated a “hold” rating on shares of Calumet in a report on Wednesday, June 3rd. Weiss Ratings upgraded shares of Calumet from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Finally, HC Wainwright upped their price objective on shares of Calumet from $33.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, March 30th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Calumet has a consensus rating of “Hold” and a consensus price target of $36.75.

Calumet Price Performance

Shares of Calumet stock opened at $32.69 on Wednesday. The company has a 50-day moving average of $33.50 and a 200 day moving average of $27.61. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of -15.13 and a beta of 0.73. Calumet, Inc. has a 1 year low of $12.94 and a 1 year high of $38.75.

Calumet (NASDAQ:CLMT) last issued its quarterly earnings results on Friday, May 8th. The oil and gas company reported ($3.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($3.31). The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1 billion. Calumet’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm posted ($1.87) EPS. On average, equities analysts anticipate that Calumet, Inc. will post -0.28 EPS for the current year.

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.