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Calumet Specialty Products Has Doubled in 2017

PART:
1 2 3 4 5 6 7
Part 5
Calumet Specialty Products Has Doubled in 2017 PART 5 OF 7

Are Institutional Investors Bearish on Calumet Specialty?

Top ten holders

The ten largest institutional owners collectively hold 25.4% of Calumet Specialty Products Partners’ (CLMT) outstanding shares. Heritage Group, Calumet, and Ferdinand William Grube are the top three owners of Calumet Specialty Products Partners shares. They hold 15.5%, 2.5%, and 1.3%, respectively, of the total outstanding shares.

Are Institutional Investors Bearish on Calumet Specialty?

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The above table shows the recent changes in the top ten investors’ positions in Calumet Specialty Products Partners. As the table shows, there aren’t any changes in Heritage Group and Calumet’s holdings. Citi Investment Research and Goldman Sachs sold net 0.7 million and 0.3 million Calumet Specialty Products Partners shares, respectively, in 2Q17. It’s important to note that Form 13F has to be filed quarterly. The above changes in institutional investors’ holdings reflect changes during 2Q17. Together, the top ten investors reduced net 0.85 million Calumet Specialty Products Partners shares from their positions.

Calumet Specialty Products Partners has 76.7 million shares outstanding—78.5% are free-floating shares.

Are Institutional Investors Bearish on Calumet Specialty?

Recent large transactions

So far, we discussed what the top ten investors did with their Calumet Specialty Products Partners holdings. Now, we’ll see discuss the biggest transactions in Calumet Specialty Products Partners.

Morgan Stanley Investment Management bought 0.18 million Calumet Specialty Products Partners shares. Susquehanna Financial Group bought 0.1 million shares. Both of these investors don’t appear in the first table of institutional ownership. Currently, they aren’t among the largest holders of Calumet Specialty Products Partners shares.

Recently, Rovida Advisors and David Lerner Associates sold net 0.86 million and 0.36 million Calumet Specialty Products Partners shares, respectively. As we saw above, Citi Investment Research—the fourth-largest institutional investor in Calumet Specialty Products Partners—sold net 0.66 million shares recently.

According to filings, the five biggest recent buy transactions together accounted for 0.52 million Calumet Specialty Products Partners shares. On the other hand, the five biggest recent sell transactions added up to 2.45 million Calumet Specialty Products Partners shares. So, more shares were sold than bought, according to the biggest buy and sell transactions.

These changes likely indicate a bearish outlook of a chunk of Calumet Specialty Products Partners’ institutional investors.

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