Insider Selling: Calumet (NASDAQ:CLMT) Director Sells 4,240 Shares

Calumet, Inc. (NASDAQ:CLMT) Director Daniel Sajkowski sold 4,240 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $36.16, for a total value of $153,318.40. Following the completion of the transaction, the director owned 77,718 shares of the company’s stock, valued at $2,810,282.88. This represents a 5.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Calumet Stock Performance

CLMT stock traded down $0.01 during mid-day trading on Thursday, hitting $36.42. 730,107 shares of the company were exchanged, compared to its average volume of 1,220,186. The firm has a market cap of $3.17 billion, a P/E ratio of -16.86 and a beta of 0.72. Calumet, Inc. has a 1-year low of $12.94 and a 1-year high of $38.75. The firm’s 50 day simple moving average is $33.68 and its 200 day simple moving average is $28.74.

Calumet (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, May 8th. The oil and gas company reported ($3.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($3.31). The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1 billion. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.87) EPS. On average, equities research analysts predict that Calumet, Inc. will post -0.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Weiss Ratings raised shares of Calumet from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. The Goldman Sachs Group downgraded shares of Calumet from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research note on Friday, April 24th. HC Wainwright raised their price objective on Calumet from $33.00 to $60.00 and gave the company a “buy” rating in a report on Monday, March 30th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Calumet in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $36.75.

Institutional Investors Weigh In On Calumet

A number of institutional investors have recently modified their holdings of CLMT. Legal & General Group Plc increased its position in Calumet by 36.6% during the second quarter. Legal & General Group Plc now owns 72,143 shares of the oil and gas company’s stock worth $1,137,000 after acquiring an additional 19,322 shares during the period. New York State Common Retirement Fund bought a new position in shares of Calumet during the second quarter worth approximately $343,000. Quantbot Technologies LP bought a new position in shares of Calumet during the second quarter worth approximately $241,000. Invesco Ltd. raised its position in shares of Calumet by 514.8% in the second quarter. Invesco Ltd. now owns 94,642 shares of the oil and gas company’s stock valued at $1,491,000 after buying an additional 79,247 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Calumet by 199.9% in the second quarter. The Manufacturers Life Insurance Company now owns 34,551 shares of the oil and gas company’s stock valued at $544,000 after buying an additional 23,031 shares during the period. Institutional investors own 34.41% of the company’s stock.

About Calumet

Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) is an independent provider of high-value, essential product solutions derived from both petroleum and renewable feedstocks. The company operates an integrated network of manufacturing plants, blending terminals and storage facilities across North America, delivering customized products and technical services to industrial, automotive, consumer and agricultural end markets. By leveraging its scale and technical expertise, Calumet tailors supply chain and formulation solutions to meet stringent regulatory and performance requirements.

Calumet’s product portfolio includes specialty lubricants and base oils for high-performance applications; process oils and waxes for food-grade, cosmetic and packaging uses; industrial solvents and cleaning solutions; and fuel additives designed to optimize engine performance and emissions.