Calumet Specialty Products Partners (NASDAQ:CLMT) Sees Large Volume Increase

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) saw unusually-high trading volume on Monday . Approximately 190,404 shares changed hands during mid-day trading, an increase of 15% from the previous session’s volume of 165,854 shares.The stock last traded at $10.51 and had previously closed at $11.84.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CLMT shares. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a research report on Monday, May 13th. StockNews.com started coverage on shares of Calumet Specialty Products Partners in a report on Sunday. They set a “hold” rating for the company. Finally, The Goldman Sachs Group dropped 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.

Calumet Specialty Products Partners Trading Down 3.7 %

The firm has a 50-day simple moving average of $15.42 and a two-hundred day simple moving average of $15.55. The company has a market capitalization of $916.45 million, a price-to-earnings ratio of -169.14 and a beta of 1.93.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings data on Friday, May 10th. The oil and gas company reported ($0.61) EPS for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.13. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $984.10 million. On average, sell-side analysts forecast that Calumet Specialty Products Partners, L.P. will post -1.9 earnings per share for the current year.

Insider Transactions at Calumet Specialty Products Partners

In related news, SVP Gregory J. Morical sold 11,111 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $15.04, for a total value of $167,109.44. Following the completion of the sale, the senior vice president now directly owns 33,845 shares in the company, valued at approximately $509,028.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.91% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CLMT. ICA Group Wealth Management LLC acquired a new stake in shares of Calumet Specialty Products Partners in the 4th quarter valued at $116,000. Future Financial Wealth Managment LLC acquired a new position in Calumet Specialty Products Partners during the first quarter worth $119,000. PFG Investments LLC acquired a new position in shares of Calumet Specialty Products Partners during the 1st quarter worth approximately $155,000. Sapient Capital LLC acquired a new stake in Calumet Specialty Products Partners during the 4th quarter valued at $188,000. Finally, Deuterium Capital Management LLC acquired a new position in Calumet Specialty Products Partners in the 1st quarter valued at $159,000. 34.41% of the stock is owned by institutional investors.

About Calumet Specialty Products Partners

Calumet Specialty Products Partners, L.P. 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; Performance brands; Montana/Renewables; and Corporate segments.