Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Down 4.9%

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) shares fell 4.9% during trading on Tuesday . The company traded as low as $13.47 and last traded at $13.51. 268,701 shares were traded during mid-day trading, an increase of 93% from the average session volume of 138,866 shares. The stock had previously closed at $14.20.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CLMT. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a research note on Monday, May 13th. StockNews.com initiated coverage on shares of Calumet Specialty Products Partners in a research report on Friday. They set a “hold” rating for the company.

Calumet Specialty Products Partners Trading Down 9.1 %

The company has a market cap of $1.04 billion, a price-to-earnings ratio of -187.86 and a beta of 1.93. The business has a 50-day moving average price of $15.96 and a 200 day moving average price of $15.83.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings results on Friday, May 10th. The oil and gas company reported ($0.61) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.13. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $984.10 million. On average, analysts anticipate 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 firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $15.04, for a total value of $167,109.44. Following the completion of the transaction, the senior vice president now owns 33,845 shares of the company’s stock, valued at approximately $509,028.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.91% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Several hedge funds have recently bought and sold shares of CLMT. J.W. Cole Advisors Inc. increased its holdings in shares of Calumet Specialty Products Partners by 4.3% in the 1st quarter. J.W. Cole Advisors Inc. now owns 20,600 shares of the oil and gas company’s stock valued at $306,000 after purchasing an additional 850 shares during the period. Sapient Capital LLC grew its position in Calumet Specialty Products Partners by 9.5% during the second quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company’s stock valued at $185,000 after purchasing an additional 1,000 shares in the last quarter. Sheets Smith Wealth Management increased its stake in Calumet Specialty Products Partners by 11.2% in the 4th quarter. Sheets Smith Wealth Management now owns 12,202 shares of the oil and gas company’s stock valued at $218,000 after buying an additional 1,225 shares during the period. O Brien Greene & Co. Inc lifted its position in Calumet Specialty Products Partners by 4.2% in the 4th quarter. O Brien Greene & Co. Inc now owns 50,000 shares of the oil and gas company’s stock worth $894,000 after buying an additional 2,000 shares in the last quarter. Finally, ARS Investment Partners LLC boosted its stake in shares of Calumet Specialty Products Partners by 16.7% during the 2nd quarter. ARS Investment Partners LLC now owns 31,500 shares of the oil and gas company’s stock valued at $506,000 after buying an additional 4,500 shares during the period. 34.41% of the stock is owned by hedge funds and other 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.