Calumet Specialty ProductsCLMT
CLMT
About: Calumet Inc is a producer of specialty products, including base oils, specialty oils, solvents, esters, and waxes, as well as a variety of fuel and fuel-related products, including asphalt and heavy fuel oils. The company manufactures, formulates, and markets a variety of specialty branded products to customers in various consumer-facing and industrial markets.
Employees: 1,580
0
Funds holding %
of 6,809 funds
0
Analysts bullish %
of 3 analysts
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
137% more call options, than puts
Call options by funds: $80.3M | Put options by funds: $33.8M
116% more first-time investments, than exits
New positions opened: 41 | Existing positions closed: 19
47% more capital invested
Capital invested by funds: $389M [Q2] → $570M (+$181M) [Q3]
40% more funds holding in top 10
Funds holding in top 10: 5 [Q2] → 7 (+2) [Q3]
32% more funds holding
Funds holding: 68 [Q2] → 90 (+22) [Q3]
7.23% more ownership
Funds ownership: 30.15% [Q2] → 37.38% (+7.23%) [Q3]
11% less repeat investments, than reductions
Existing positions increased: 17 | Existing positions reduced: 19
Research analyst outlook
3 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$25
23%
upside
Avg. target
$27
31%
upside
High target
$29
42%
upside
3 analyst ratings
3 positive
100%
0 neutral
0%
0 negative
0%
TD Cowen Jason Gabelman 32% 1-year accuracy 9 / 28 met price target | 28%upside $26 | Buy Maintained | 11 Nov 2024 |
HC Wainwright & Co. Amit Dayal 39% 1-year accuracy 44 / 112 met price target | 23%upside $25 | Buy Reiterated | 11 Nov 2024 |
Wells Fargo Roger Read 23% 1-year accuracy 23 / 99 met price target | 42%upside $29 | Overweight Maintained | 21 Oct 2024 |
Financial journalist opinion
Based on 3 articles about CLMT published over the past 30 days
Neutral
PRNewsWire
1 week ago
Montana Renewables Receives Approval of Excise Tax Registration
GREAT FALLS, Mont., Dec. 12, 2024 /PRNewswire/ -- Montana Renewables, LLC announced today that it has received approval of its Excise Tax Registration from the Internal Revenue Service.
Neutral
PRNewsWire
3 weeks ago
Calumet Announces Settlement of its Exchange Offer for any and all of the Outstanding 11.00% Senior Notes due 2025 and Issues Notice of Full Redemption for the Remaining 11.00% Senior Notes due 2025
INDIANAPOLIS , Nov. 25, 2024 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) (the "Company" or "Calumet") and its wholly owned subsidiaries, Calumet Specialty Products Partners, L.P. (the "Partnership") and Calumet Finance Corp. ("Finance Corp." and, together with the Partnership, the "Issuers"), today announced the final settlement of the previously announced private exchange offer (the "Exchange Offer") to certain holders of their 11.00% Senior Notes due 2025 (the "Old Notes") to exchange any and all of the Old Notes for newly issued 11.00% Senior Notes due 2026 (the "New Notes").
Neutral
PRNewsWire
4 weeks ago
Calumet Announces Expiration and Final Results for its Exchange Offer for any and all of the Outstanding 11.00% Senior Notes due 2025
INDIANAPOLIS , Nov. 22, 2024 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) (the "Company" or "Calumet") and its wholly owned subsidiaries, Calumet Specialty Products Partners, L.P. (the "Partnership") and Calumet Finance Corp. ("Finance Corp." and, together with the Partnership, the "Issuers"), today announced the expiration and final results of the previously announced private exchange offer (the "Exchange Offer") to certain holders of their 11.00% Senior Notes due 2025 (the "Old Notes") to exchange any and all of the Old Notes for newly issued 11.00% Senior Notes due 2026 (the "New Notes").
Neutral
PRNewsWire
1 month ago
Calumet to Participate in December 2024 Investor Conferences
INDIANAPOLIS , Nov. 19, 2024 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) ("Calumet") announced today that it plans to attend two investor conferences in December. On December 3 rd and 4th, Calumet will attend the Bank of America Leveraged Finance Conference and will be holding one-on-one investor meetings throughout the day at the conference.
Positive
Seeking Alpha
1 month ago
Long-Term Investing In Calumet Specialty Products
Investors should maintain a long-term vision despite short-term market fluctuations, as patience is crucial for substantial returns. Examples like Cirrus can help Calumet investors navigate investment strategies. The marketplace today requires a focus on 2-year, 5-year, and 20-year investment horizons to navigate risks effectively.
Neutral
Seeking Alpha
1 month ago
Calumet, Inc. (CLMT) Q3 2024 Earnings Call Transcript
Calumet, Inc. (CLMT) Q3 2024 Earnings Call Transcript
Neutral
PRNewsWire
1 month ago
Calumet Reports Third Quarter 2024 Results
Third quarter 2024 net loss of $100.6 million, or basic loss per common share of $1.18 per share Third quarter 2024 Adjusted EBITDA of $49.8 million Montana Renewables ("MRL") set another new SAF production volume record Specialties business posted highest production levels in over five years Montana Renewables announced conditional commitment of $1.44 billion Department of Energy ("DOE") loan Successfully completed conversion from a Master Limited Partnership ("MLP") to a C-Corp INDIANAPOLIS , Nov. 8, 2024 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) today reported results of Calumet, Inc. (the "Company," "Calumet," "we," "our" or "us") for the third quarter ended September 30, 2024, as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (Dollars in millions, except per share data) Net income (loss) $ (100.6) $ 99.8 $ (181.3) $ 96.1 Basic earnings (loss) per common share $ (1.18) $ 1.24 $ (2.21) $ 1.20 Adjusted EBITDA $ 49.8 $ 75.4 $ 138.2 $ 220.8 Specialty Products and Solutions Performance Brands Montana/Renewables Three Months Ended September 30, Three Months Ended September 30, Three Months Ended September 30, 2024 2023 2024 2023 2024 2023 (Dollars in millions, except per barrel data) Gross profit (loss) $ 2.3 $ 158.9 $ 22.7 $ 21.0 $ (20.1) $ 81.6 Adjusted gross profit $ 46.5 $ 56.7 $ 24.3 $ 18.6 $ 20.0 $ 48.2 Adjusted EBITDA $ 42.6 $ 38.6 $ 13.6 $ 13.2 $ 12.7 $ 38.2 Gross profit (loss) per barrel $ 0.39 $ 28.77 $ 145.51 $ 160.31 $ (8.48) $ 41.61 Adjusted gross profit per barrel $ 7.80 $ 10.26 $ 155.77 $ 141.98 $ 8.44 $ 24.58 Specialty Products and Solutions Performance Brands Montana/Renewables Nine Months Ended September 30, Nine Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 2024 2023 (Dollars in millions, except per barrel data) Gross profit (loss) $ 126.7 $ 314.1 $ 70.1 $ 66.0 $ (49.6) $ 49.5 Adjusted gross profit $ 163.9 $ 221.4 $ 72.9 $ 62.0 $ 32.8 $ 79.1 Adjusted EBITDA $ 150.2 $ 175.6 $ 41.1 $ 41.8 $ 5.8 $ 56.0 Gross profit (loss) per barrel $ 7.37 $ 19.63 $ 146.65 $ 167.09 $ (7.48) $ 9.25 Adjusted gross profit per barrel $ 9.53 $ 13.84 $ 152.51 $ 156.96 $ 4.95 $ 14.78 "Calumet continues to execute on our strategic catalysts as planned," said Todd Borgmann, CEO. "We started the quarter with the conversion of Calumet's structure from a MLP to a C-Corp, and in October we announced the conditional commitment of a $1.44 billion DOE loan guarantee.
Neutral
PRNewsWire
1 month ago
Calumet Announces Early Results for its Exchange Offer for any and all of the Outstanding 11.00% Senior Notes due 2025
INDIANAPOLIS , Nov. 6, 2024 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) (the "Company" or "Calumet") and its wholly owned subsidiaries, Calumet Specialty Products Partners, L.P. (the "Partnership") and Calumet Finance Corp. ("Finance Corp." and, together with the Partnership, the "Issuers"), today announced the early results of the previously announced private exchange offer (the "Exchange Offer") to each Eligible Holder (as defined below) of their 11.00% Senior Notes due 2025 (the "Old Notes") to exchange any and all of the Old Notes for newly issued 11.00% Senior Notes due 2026 (the "New Notes"), upon the terms and subject to the conditions set forth in the confidential offering memorandum, dated October 23, 2024 (the "Offering Memorandum").
Neutral
PRNewsWire
1 month ago
Calumet to Attend Goldman Sachs Carbonomics Conference
INDIANAPOLIS , Oct. 29, 2024 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) ("Calumet") announced today plans to attend the Goldman Sachs Carbonomics Conference on Tuesday, November 12, 2024, in London, England. Calumet will be holding one-on-one investor meetings throughout the day at the conference and participating in a panel discussion regarding decarbonization in the aviation industry.
Neutral
PRNewsWire
1 month ago
Calumet, Inc. to Release Third Quarter 2024 Earnings on November 8, 2024
INDIANAPOLIS , Oct. 25, 2024 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) (the "Company," "Calumet," "we," "our" or "us"), announced today that it plans to report results for the Third Quarter 2024 on November 8, 2024. A conference call to discuss the financial and operational results is scheduled for November 8th at 9:00 AM ET.
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