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 firm’s stock in a transaction 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 completion of the transaction, the director now owns 1,388,529 shares in the company, valued at $28,589,812.11. The trade was a 6.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Calumet Specialty Products Partners Price Performance

Shares of NASDAQ:CLMT opened at $20.92 on Friday. Calumet Specialty Products Partners, L.P. has a one year low of $9.97 and a one year high of $25.29. The company has a market cap of $1.80 billion, a price-to-earnings ratio of -7.58 and a beta of 1.90. The firm has a 50 day simple moving average of $19.56 and a 200 day simple moving average of $17.13.

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

Analyst Ratings Changes

CLMT has been the topic of a number of analyst reports. TD Cowen reduced their price objective on shares of Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. The Goldman Sachs Group reduced their price target on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a research note on Monday, November 11th. Wells Fargo & Company upped their target price on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, StockNews.com initiated coverage on Calumet Specialty Products Partners in a research note on Wednesday, October 23rd. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.75.

Institutional Trading of Calumet Specialty Products Partners

A number of hedge funds have recently made changes to their positions in CLMT. Founders Financial Alliance LLC raised its holdings 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 valued at $777,000 after buying an additional 3,750 shares during the last quarter. Creative Planning raised its stake in shares of Calumet Specialty Products Partners by 46.4% during the second quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock valued at $1,002,000 after acquiring an additional 19,800 shares during the last quarter. DRW Securities LLC acquired a new position in shares of Calumet Specialty Products Partners during the second quarter worth $898,000. Wedbush Securities Inc. acquired a new position in shares of Calumet Specialty Products Partners during the second quarter worth $169,000. Finally, Wasserstein Debt Opportunities Management L.P. grew its stake in shares of Calumet Specialty Products Partners by 2.9% in the second 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 purchasing an additional 193,063 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.