Great Lakes Advisors LLC Purchases Shares of 169,195 Calumet, Inc. $CLMT

Great Lakes Advisors LLC bought a new position in shares of Calumet, Inc. (NASDAQ:CLMT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 169,195 shares of the oil and gas company’s stock, valued at approximately $3,088,000. Great Lakes Advisors LLC owned approximately 0.20% of Calumet at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CLMT. O Keefe Stevens Advisory Inc. boosted its holdings in Calumet by 12.1% during the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 26,817 shares of the oil and gas company’s stock worth $423,000 after acquiring an additional 2,903 shares during the last quarter. University of Texas Texas AM Investment Management Co. lifted its position in shares of Calumet by 109.4% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 3,350 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 1,750 shares in the last quarter. ELCO Management Co. LLC boosted its holdings in Calumet by 31.9% during the second quarter. ELCO Management Co. LLC now owns 43,060 shares of the oil and gas company’s stock worth $678,000 after purchasing an additional 10,402 shares during the last quarter. Premier Path Wealth Partners LLC grew its position in Calumet by 11.4% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 12,853 shares of the oil and gas company’s stock worth $202,000 after purchasing an additional 1,320 shares in the last quarter. Finally, Amalgamated Bank purchased a new stake in Calumet in the 2nd quarter valued at about $37,000. Institutional investors own 34.41% of the company’s stock.

Calumet Stock Up 0.1%

NASDAQ:CLMT opened at $22.41 on Friday. The stock has a market cap of $1.94 billion, a P/E ratio of -52.12 and a beta of 1.23. The business’s 50-day moving average price is $20.05 and its two-hundred day moving average price is $18.38. Calumet, Inc. has a twelve month low of $7.68 and a twelve month high of $23.00.

Calumet (NASDAQ:CLMT) last posted its quarterly earnings data on Friday, November 7th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.09. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. The business’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.18) earnings per share. On average, equities research analysts expect that Calumet, Inc. will post -3.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CLMT. Zacks Research upgraded Calumet from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. HC Wainwright reiterated a “buy” rating and set a $33.00 target price on shares of Calumet in a research note on Monday, November 10th. Wall Street Zen lowered shares of Calumet from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. The Goldman Sachs Group lifted their price objective on shares of Calumet from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday. Finally, TD Cowen reissued a “hold” rating on shares of Calumet in a research report on Thursday. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $20.71.

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.