Major Share Disposition by The Heritage Group via Warrant Net Settlement and Gift
CLMT has more than doubled off its 52-week low of $12.935.
Summary
The Heritage Group, a significant 16.56% owner, reported the disposition of 1.17 million shares totaling approximately $39.4 million through a warrant net settlement and a gift.
Key Events · Ownership and Investor Activity · CLMT
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Significant Share Disposition
The Heritage Group disposed of 1,166,998 shares, representing approximately $39.4 million in value, through a warrant net settlement and a gift.
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Warrant Net Settlement
On May 15, 2026, 626,998 shares were effectively disposed of as part of the net settlement of Heritage Warrants, valued at $20.4 million.
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Large Share Gift
On June 5, 2026, The Heritage Group gifted 540,000 shares, valued at approximately $19.0 million based on current market price.
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Updated Beneficial Ownership
The Heritage Group now beneficially owns 14,523,185 shares, representing 16.56% of Calumet's outstanding common stock.
Analysis · CLMT · Energy & Transportation
This Schedule 13D/A updates the beneficial ownership of The Heritage Group, a long-term investor with deep ties to Calumet. The filing details two significant dispositions: a net settlement of warrants resulting in a decrease of 626,998 shares in their beneficial ownership and a gift of 540,000 shares. While these are not direct open-market sales, the reduction in beneficial ownership by a major holder, totaling approximately $39.4 million, is a notable event. This follows recent news of a substantial net loss for Q1 2026 and a $150 million private placement of senior notes.
At the time of this filing, CLMT was trading at $35.17 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $3.1B. The 52-week trading range was $12.94 to $38.75. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.