Calumet (NASDAQ:CLMT) Director Sells $268,000.00 in Stock

Calumet, Inc. (NASDAQ:CLMT) Director Daniel Sajkowski sold 20,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $13.40, for a total value of $268,000.00. Following the transaction, the director owned 81,959 shares in the company, valued at $1,098,250.60. This represents a 19.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Calumet Price Performance

CLMT stock traded up $0.63 during trading on Thursday, hitting $30.22. The stock had a trading volume of 1,721,709 shares, compared to its average volume of 1,367,486. The stock has a market capitalization of $2.62 billion, a P/E ratio of -70.28 and a beta of 1.24. The company’s 50-day moving average price is $22.92 and its two-hundred day moving average price is $19.82. Calumet, Inc. has a twelve month low of $7.68 and a twelve month high of $30.35.

Hedge Funds Weigh In On Calumet

A number of hedge funds and other institutional investors have recently bought and sold shares of CLMT. Invesco Ltd. grew its position in Calumet by 13.6% in the 4th quarter. Invesco Ltd. now owns 123,607 shares of the oil and gas company’s stock valued at $2,456,000 after acquiring an additional 14,769 shares in the last quarter. Numerai GP LLC purchased a new position in shares of Calumet in the fourth quarter valued at approximately $620,000. Millennium Management LLC grew its holdings in shares of Calumet by 119.9% in the fourth quarter. Millennium Management LLC now owns 13,902 shares of the oil and gas company’s stock valued at $276,000 after purchasing an additional 83,844 shares in the last quarter. Trexquant Investment LP increased its stake in Calumet by 45.5% during the 4th quarter. Trexquant Investment LP now owns 265,637 shares of the oil and gas company’s stock worth $5,278,000 after buying an additional 83,093 shares during the period. Finally, Laurion Capital Management LP acquired a new stake in Calumet during the 4th quarter worth approximately $748,000. 34.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CLMT. Zacks Research raised shares of Calumet from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. UBS Group reiterated a “neutral” rating and issued a $26.00 price objective on shares of Calumet in a research report on Friday, February 13th. The Goldman Sachs Group lifted their target price on Calumet from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, January 30th. TD Cowen restated a “hold” rating on shares of Calumet in a report on Thursday, January 29th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $33.00 target price on shares of Calumet in a research note on Monday, November 10th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Calumet presently has a consensus rating of “Hold” and an average price target of $22.83.

Calumet Company Profile

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.