CLMT stock icon

Calumet Specialty Products
CLMT

$16.27
0.61%
 

About: Calumet Specialty Products Partners LP is an independent producer of specialty products, including lubricating oils, solvents, waxes, food-grade white oils, pharmaceutical-grade petrolatums, and other products, as well as a variety of fuel and fuel-related products, including asphalt and heavy fuel oils. The company operates through four segments namely the Specialty Products and Solutions segment, Montana/Renewables segment, Performance Brands segment, and corporate. The company generates the majority of its revenue from the Specialty Products and solutions segment, which consists of our customer-focused solutions and formulations businesses, covering multiple specialty product lines, anchored by a unique integrated complex in Northwest Louisiana.

Employees: 1,580

0
Funds holding %
of 6,702 funds
0
Analysts bullish %
of 3 analysts
News positive %

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

Research analyst outlook

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

Low target
$17
4%
upside
Avg. target
$22
37%
upside
High target
$25
54%
upside

3 analyst ratings

positive
100%
neutral
0%
negative
0%
HC Wainwright & Co.
Amit Dayal
54%upside
$25
Buy
Reiterated
13 May 2024
HC Wainwright & Co.
Amit Dayal
54%upside
$25
Buy
Reiterated
22 Apr 2024
Goldman Sachs
Neil Mehta
4%upside
$17
Buy
Maintained
21 Mar 2024

Financial journalist opinion

Neutral
PRNewsWire
1 month ago
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