Fed’s Powell opens door to potential rate cuts at Jackson Hole
David Lunin, the Executive Vice President and Chief Financial Officer of Calumet, Inc. (NASDAQ:CLMT), has recently purchased 2,500 shares of the company’s common stock. The transaction, which took place on March 4, 2025, was executed at a price of $13.05 per share, bringing the total value of the acquisition to $32,625. The purchase comes as the stock trades near $12.53, down roughly 41% year-to-date and significantly below its 52-week high of $25.29. According to InvestingPro analysis, the stock appears to be in oversold territory.
This purchase increases Lunin’s direct ownership in the company to 2,500 shares. Calumet, Inc., headquartered in Indianapolis, operates in the petroleum refining sector. With a market capitalization of $1.06 billion and substantial debt of $2.37 billion, the company faces financial challenges reflected in its Weak financial health score. InvestingPro subscribers can access 12 additional key insights and a comprehensive Pro Research Report for deeper analysis of CLMT’s financial position.
In other recent news, Calumet Specialty Products Partners reported disappointing financial results for the fourth quarter of 2024, missing analyst expectations. The company reported an earnings per share (EPS) of -$0.47, which was significantly below the forecasted -$0.21. Revenue also fell short, coming in at $949.5 million compared to the anticipated $1.01 billion. Despite maintaining strong specialty margins at $60 per barrel, these results reflect challenges in the renewable diesel market and decreased biomass-based diesel production. In addition, TD Cowen analysts downgraded Calumet’s stock from Buy to Hold, reducing the price target from $26.00 to $16.00, citing challenges with the Montana Renewables project and broader industry issues. The analysts emphasized the importance of Calumet demonstrating competitive earnings, particularly in the Sustainable Aviation Fuel market, to regain investor confidence. Calumet also secured $782 million in Department of Energy loan funding, which is a significant development for the company. These recent developments highlight the ongoing challenges and strategic efforts by Calumet to navigate a complex market landscape.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.