Calumet Specialty Products
CLMT

$13.15

6.21%

Market Cap: 1.13B

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 6,702 funds

0

Analysts bullish %

of 3 analysts

0

News positive %

of 5 articles

Fund manager confidence

Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)

77% more repeat investments, than reductions

Existing positions increased: 23 | Existing positions reduced: 13

1% more funds holding

Funds holding: 74 [Q4 2023] → 75 (+1) [Q1 2024]

7% more first-time investments, than exits

New positions opened: 15 | Existing positions closed: 14

0.73% less ownership

Funds ownership: 29.01% [Q4 2023] → 28.28% (-0.73%) [Q1 2024]

19% less capital invested

Capital invested by funds: $415M [Q4 2023] → $337M (-$77.4M) [Q1 2024]

29% less funds holding in top 10

Funds holding in top 10: 7 [Q4 2023] → 5 (-2) [Q1 2024]

67% less call options, than puts

Call options by funds: $9.88M | Put options by funds: $30.4M

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Research analyst outlook

3 Wall Street Analysts provided 1 year price forecasts over the past 6 months

Low target

$17

29%

upside

Avg. target

$22

70%

upside

High target

$25

90%

upside

3 analyst ratings

3 positive

100%

0 neutral

0%

0 negative

0%

HC Wainwright & Co. Amit Dayal	90%upside $25	Buy Reiterated	13 May 2024
HC Wainwright & Co. Amit Dayal	90%upside $25	Buy Reiterated	22 Apr 2024
Goldman Sachs Neil Mehta	29%upside $17	Buy Maintained	21 Mar 2024

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Financial journalist opinion

Based on 5 articles about CLMT published over the past 30 days

Calumet, Inc. to Release Second Quarter 2024 Earnings on August 9, 2024

INDIANAPOLIS , July 26, 2024 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) (the "Company," "Calumet," "we," "our" or "us"), announced today that it plans to report results for the second quarter 2024 on August 9, 2024. A conference call to discuss the financial and operational results is scheduled for August 9, 2024 at 9:00 AM ET.

Calumet, Inc. to Release Second Quarter 2024 Earnings on August 9, 2024

Calumet Converted To A C-Corp, So What's Next

Calumet Specialty Products unit holders voted to convert from an MLP to a C-Corp, aiming to become a premium specialty and low-cost producer of renewable energy. The company's future outlook includes factors such as a review of last quarter's EBITDA, EPA regulations affecting RIN prices, a potential DOE loan, and cost reductions. MRL plans to convert into a higher margin SAF production facility, with potential for significant profits.

Calumet Converted To A C-Corp, So What's Next

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3 Hydrogen Stocks Set to Skyrocket: Expert Picks for Massive Gains

Calumet Specialty Products Partners, L.P. Completes Conversion to a C-Corporation

Common Stock of Calumet, Inc. to Commence Trading on Nasdaq on Thursday, July 11 INDIANAPOLIS , July 10, 2024 /PRNewswire/ -- July 10, 2024 — Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) (the "Partnership," "Calumet," "we," "our" or "us"), announced today that it has completed the previously announced conversion (the "Conversion") of its structure from a master limited partnership ("MLP") to a C-Corporation, pursuant to which the unitholders of the Partnership became shareholders of Calumet, Inc. ("New Calumet").

Calumet Specialty Products Partners, L.P. Completes Conversion to a C-Corporation

Calumet Specialty Products Partners, L.P. Unitholders Approve Conversion to a C-Corporation

99.6% of the Votes Cast Supported the Conversion INDIANAPOLIS , July 9, 2024 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) (the "Partnership," "Calumet," "we," "our" or "us"), announced today that its unitholders voted to approve the previously announced conversion (the "Conversion") of its structure from a master limited partnership ("MLP") to a C-Corporation, pursuant to which the unitholders of the Partnership will become shareholders of Calumet, Inc. ("New Calumet") upon closing of the Conversion.

Calumet Specialty Products Partners, L.P. Unitholders Approve Conversion to a C-Corporation

Calumet Specialty Products Partners, L.P. Announces Meeting Date for Special Meeting of Unitholders to Approve Proposed Conversion Transaction

INDIANAPOLIS , June 10, 2024 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) ("Calumet," the "Partnership," "we" or "us") announced today that a special meeting (the "Special Meeting") of unitholders to approve the previously announced conversion (the "Conversion") of Calumet from a master limited partnership to a Delaware corporation, among other things, has been scheduled to take place on July 9, 2024.

Calumet Specialty Products Partners, L.P. Announces Meeting Date for Special Meeting of Unitholders to Approve Proposed Conversion Transaction

Calumet Specialty Products Endured Rainy Days With Blue Skies Ahead

Calumet Specialty Products reported results negatively impacted by rapidly changing markets in its 1st Quarter. Much of the negative impacts are likely recovered in the natural cycling of the energy markets on a full-year basis. MRL, the low-cost renewable producer, now generates positive cash flows, which are likely to significantly increase over the next two to three quarters.

Calumet Specialty Products Endured Rainy Days With Blue Skies Ahead

Calumet to Attend TD Cowen's 2nd Annual Sustainability Week Investor Conference

INDIANAPOLIS , May 13, 2024 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) ("Calumet", "our", "we"), announced today plans to participate in TD Cowen's 2nd Annual Sustainability Week.

Calumet to Attend TD Cowen's 2nd Annual Sustainability Week Investor Conference

Calumet Specialty Products Partners, L.P. (CLMT) Q1 2024 Earnings Call Transcript

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT ) Q1 2024 Earnings Conference Call May 10, 2024 9:00 AM ET Company Participants John Kompa - Investor Relations Todd Borgmann - Chief Executive Officer David Lunin - Chief Financial Officer Bruce Fleming - Executive Vice President, Montana/Renewables & Corporate Development Conference Call Participants Roger Read - Wells Fargo Saumya Jain - UBS Gregg Brody - Bank of America Jason Gabelman - TD Cowen Neil Mehta - Goldman Sachs Amit Dayal - H.C.

Calumet Specialty Products Partners, L.P. (CLMT) Q1 2024 Earnings Call Transcript

Calumet Specialty Products Partners, L.P. Reports First Quarter 2024 Results

First quarter 2024 net loss of $41.6 million, or Limited partners' interest of $0.51 basic net loss per unit First quarter 2024 Adjusted EBITDA of $21.6 million Plan to convert structure from a Master Limited Partnership to a C-Corp is on track Montana Renewables ("MRL") improved sequentially through the quarter, posted positive EBITDA in March 2024, and operated at planned production levels in April MRL remains the largest SAF producer in the Western Hemisphere with 30 million gallons annual capacity Shreveport turnaround completed successfully during the first quarter of 2024 INDIANAPOLIS , May 10, 2024 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) (the "Partnership," "Calumet," "we," "our" or "us"), today reported results for the first quarter ended March 31, 2024, as follows: Three Months Ended March 31, 2024 2023 (Dollars in millions, except per unit data) Net income (loss) $ (41.6) $ 18.6 Limited partners' interest basic net income (loss) per unit $ (0.51) $ 0.23 Adjusted EBITDA $ 21.6 $ 77.3 Specialty Products and Solutions Performance Brands Montana/Renewables Three Months Ended March 31, Three Months Ended March 31, Three Months Ended March 31, 2024 2023 2024 2023 2024 2023 (Dollars in millions, except per barrel data) Gross profit (loss) $ 85.3 $ 109.9 $ 22.3 $ 23.6 $ (29.1) $ (36.9) Adjusted EBITDA $ 41.8 $ 76.0 $ 13.4 $ 16.4 $ (14.5) $ 4.8 Gross profit (loss) per barrel $ 15.77 $ 21.22 $ 154.86 $ 185.83 $ (14.16) $ (22.91) "We're anticipating an exciting and strategically important spring and summer at Calumet as we remain on pace to complete our C-Corp conversion and demonstrate the competitive advantages of Montana Renewables.

Calumet Specialty Products Partners, L.P. Reports First Quarter 2024 Results

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