Calumet, Inc. /DE
boothcheck covers Calumet, Inc. /DE (CLMT) but does not put one priced-in number on it: here the defensible answer is the evidence rather than a point estimate. boothcheck publishes no house fair value, target price, or buy/sell rating. Narrative composed July 25, 2026.
• Two very different businesses share one ticker: a specialty hydrocarbon operation making lubricating oils, solvents, waxes and asphalt, where fuels, asphalt and other by-products is the single largest revenue line at about 32%, and Montana Renewables, a renewable fuels plant that contributes roughly a fifth of revenue and all of the story. • The renewable half is being built with borrowed money that the parent does not stand behind: the FY2025 annual report records a ⟦"$1.44 billion guaranteed
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169 institutional managers reported holding CLMT in 13F filings for the quarter ended 2026-03-31. Together they hold about 51% of the company; the top 10 hold 36%. 57 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 4.0M shares were sold short as of the 2026-06-15 count, about 5% of shares outstanding (4.7 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
Open-market insider buys at CLMT over the trailing three years: 2025: 1 buy totaling $33k. 16 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
CLMT's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2025-05-13 | +3.8% | +15.4% |
| 2025-08-09 | -3.5% | +23.0% |
| 2025-11-11 | -2.0% | +3.0% |
| 2026-02-28 | -10.9% | +25.0% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
CLMT's latest 8-K filings: 2026-09-15 (items 1.01, 2.03, 9.01); 2026-09-01 (items 1.01, 7.01, 9.01); 2026-08-07 (items 2.02, 9.01); 2026-06-03 (items 5.07); 2026-05-08 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.