Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Director Sells $2,059,000.00 in Stock

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Director Jennifer Straumins sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $20.59, for a total value of $2,059,000.00. Following the sale, the director now owns 1,388,529 shares in the company, valued at approximately $28,589,812.11. This represents a 6.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Calumet Specialty Products Partners Stock Performance

NASDAQ CLMT opened at $20.92 on Friday. Calumet Specialty Products Partners, L.P. has a 52-week low of $9.97 and a 52-week high of $25.29. The stock has a market cap of $1.80 billion, a PE ratio of -7.58 and a beta of 1.90. The firm has a 50-day moving average of $19.56 and a 200-day moving average of $17.13.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.59). The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $888.36 million. During the same period in the previous year, the business earned $0.03 EPS. The firm’s revenue was down 4.3% on a year-over-year basis. As a group, analysts predict that Calumet Specialty Products Partners, L.P. will post -2.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLMT. Sapient Capital LLC lifted its holdings in shares of Calumet Specialty Products Partners by 9.5% during the second quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company’s stock worth $185,000 after buying an additional 1,000 shares in the last quarter. FAS Wealth Partners Inc. increased its position in Calumet Specialty Products Partners by 4.5% during the second quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company’s stock worth $869,000 after acquiring an additional 2,308 shares during the period. Founders Financial Alliance LLC raised its stake in Calumet Specialty Products Partners by 8.4% in the 2nd quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock worth $777,000 after purchasing an additional 3,750 shares in the last quarter. ARS Investment Partners LLC boosted its holdings in Calumet Specialty Products Partners by 16.7% in the 2nd quarter. ARS Investment Partners LLC now owns 31,500 shares of the oil and gas company’s stock valued at $506,000 after purchasing an additional 4,500 shares during the period. Finally, Wedbush Securities Inc. acquired a new position in shares of Calumet Specialty Products Partners during the 2nd quarter worth approximately $169,000. 34.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. TD Cowen lowered their target price on shares of Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, November 11th. The Goldman Sachs Group lowered their price objective on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. HC Wainwright reiterated a “buy” rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a research note on Monday, November 11th. Wells Fargo & Company lifted their price target on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, StockNews.com assumed coverage on Calumet Specialty Products Partners in a research note on Wednesday, October 23rd. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.75.

Calumet Specialty Products Partners Company Profile

Calumet, Inc manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to various consumer-facing and industrial markets in North America and internationally. It operates through Specialty Products and Solutions; Montana/Renewables; and Performance brands segments.