Insider Selling: Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Director Sells 100,000 Shares of Stock

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Director Jennifer Straumins sold 100,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $20.59, for a total value of $2,059,000.00. Following the transaction, the director now owns 1,388,529 shares in the company, valued at $28,589,812.11. This trade 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

Shares of CLMT stock opened at $20.92 on Friday. Calumet Specialty Products Partners, L.P. has a fifty-two week low of $9.97 and a fifty-two week high of $25.29. The firm has a market capitalization of $1.80 billion, a P/E ratio of -7.58 and a beta of 1.90. The stock’s fifty day moving average is $19.56 and its two-hundred day moving average is $17.12.

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

Wall Street Analyst Weigh In

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

Institutional Trading of Calumet Specialty Products Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wasserstein Debt Opportunities Management L.P. increased its stake in shares of Calumet Specialty Products Partners by 2.9% in the 2nd quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company’s stock worth $110,606,000 after acquiring an additional 193,063 shares during the last quarter. Raymond James & Associates increased its stake in shares of Calumet Specialty Products Partners by 13.4% in the 2nd quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock worth $9,182,000 after acquiring an additional 67,689 shares during the last quarter. Creative Planning increased its position in shares of Calumet Specialty Products Partners by 46.4% during the 2nd quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock worth $1,002,000 after purchasing an additional 19,800 shares during the last quarter. DRW Securities LLC acquired a new stake in shares of Calumet Specialty Products Partners during the 2nd quarter worth about $898,000. Finally, FAS Wealth Partners Inc. increased its position in shares of Calumet Specialty Products Partners by 4.5% during the 2nd quarter. FAS Wealth Partners Inc. now owns 54,126 shares of the oil and gas company’s stock worth $869,000 after purchasing an additional 2,308 shares during the last quarter. 34.41% of the stock is owned by institutional investors and hedge funds.

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.