Insider Selling: Calumet (NASDAQ:CLMT) Director Sells 20,000 Shares of Stock

Calumet, Inc. (NASDAQ:CLMT) Director Daniel Sajkowski sold 20,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $13.73, for a total transaction of $274,600.00. Following the transaction, the director directly owned 141,959 shares of the company’s stock, valued at $1,949,097.07. This represents a 12.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Calumet Trading Up 2.1%

Shares of NASDAQ:CLMT traded up $0.63 during mid-day trading on Thursday, reaching $30.22. The company had a trading volume of 1,721,709 shares, compared to its average volume of 1,367,486. Calumet, Inc. has a one year low of $7.68 and a one year high of $30.35. The company’s 50-day moving average price is $22.92 and its 200-day moving average price is $19.82. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of -70.28 and a beta of 1.24.

Institutional Investors Weigh In On Calumet

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Islay Capital Management LLC bought a new position in shares of Calumet in the fourth quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd lifted its stake in Calumet by 294.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 1,229 shares in the last quarter. Global Retirement Partners LLC bought a new position in Calumet in the 4th quarter valued at $34,000. Amalgamated Bank purchased a new position in shares of Calumet during the 2nd quarter valued at $37,000. Finally, Covestor Ltd increased its holdings in shares of Calumet by 29.1% in the fourth quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 492 shares during the period. 34.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CLMT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Calumet in a research note on Monday, December 29th. Zacks Research raised shares of Calumet from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. UBS Group reiterated a “neutral” rating and issued a $26.00 target price on shares of Calumet in a research note on Friday, February 13th. TD Cowen restated a “hold” rating on shares of Calumet in a research note on Thursday, January 29th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Calumet in a report on Monday, November 10th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Calumet has an average rating of “Hold” and a consensus target price of $22.83.

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.