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: 2026-09-01 (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); 2026-03-25 (items 5.02, 7.01, 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.