Calumet Specialty Products: Growth, Income And Fracking
By Michael Shulman: Buzz words dominate media coverage of markets and stocks. Growth means a rapidly growing company and appreciating stock that typically pays no or low dividends. Income means a slow or no grower that pays high dividends, although I take exception to analysts who speak of a 4% or 5% dividend as a feature of a high yield” stock. One company combines these two and another buzzword, fracking – Calumet Specialty Products (CLMT). For a company sitting in the middle of where a lot of shale oil and gas is flowing, and with a dividend north of 8%, a company actually buying refineries rather than shut them down, CLMT is relatively unknown. About the company – CLMT is in the oils, lubricants and waxes industry – not exciting stuff until you get that first dividend check.
- Revenue and profit grew nicely in the last quarter with sales topping one billion. Last