Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Director Jennifer Straumins Sells 100,000 Shares

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Director Jennifer Straumins sold 100,000 shares of the 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 sale, the director now directly owns 1,388,529 shares in the company, valued at approximately $28,589,812.11. This represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Calumet Specialty Products Partners Stock Performance

Calumet Specialty Products Partners stock traded up $0.41 during trading on Friday, reaching $20.90. 17,745 shares of the company were exchanged, compared to its average volume of 394,214. Calumet Specialty Products Partners, L.P. has a 52-week low of $9.97 and a 52-week high of $25.29. The stock’s 50 day simple moving average is $19.50 and its two-hundred day simple moving average is $17.09.

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 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 analyst estimates of $888.36 million. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 earnings per share. On average, research analysts predict that Calumet Specialty Products Partners, L.P. will post -2.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CLMT shares. The Goldman Sachs Group lowered their price target 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. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a research report on Monday. TD Cowen dropped their price target 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. StockNews.com initiated coverage on Calumet Specialty Products Partners in a research note on Wednesday, October 23rd. They set a “sell” rating for the company. Finally, Wells Fargo & Company increased their price target on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Calumet Specialty Products Partners has an average rating of “Moderate Buy” and a consensus price target of $23.75.

Institutional Trading of Calumet Specialty Products Partners

Institutional investors and hedge funds have recently made changes to their positions in the company. Founders Financial Alliance LLC raised its stake in Calumet Specialty Products Partners by 8.4% during 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 acquiring an additional 3,750 shares during the last quarter. Creative Planning lifted its stake 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 period. DRW Securities LLC purchased a new position in shares of Calumet Specialty Products Partners during the 2nd quarter worth $898,000. Wedbush Securities Inc. purchased a new position in shares of Calumet Specialty Products Partners during the 2nd quarter worth $169,000. Finally, Wasserstein Debt Opportunities Management L.P. raised its position 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 buying an additional 193,063 shares during the period. 34.41% of the stock is owned by hedge funds and other institutional investors.

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.