Raymond James & Associates Sells 44,700 Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)

Raymond James & Associates trimmed its stake in Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT – Get Rating) by 14.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 262,132 shares of the oil and gas company’s stock after selling 44,700 shares during the period. Raymond James & Associates owned 0.33% of Calumet Specialty Products Partners worth $4,425,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CLMT. PSI Advisors LLC acquired a new stake in Calumet Specialty Products Partners in the fourth quarter worth about $25,000. Tower Research Capital LLC TRC increased its holdings in shares of Calumet Specialty Products Partners by 107.4% during the third quarter. Tower Research Capital LLC TRC now owns 2,562 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 1,327 shares in the last quarter. Worth Asset Management LLC purchased a new stake in Calumet Specialty Products Partners in the first quarter valued at approximately $54,000. BNP Paribas Arbitrage SA purchased a new stake in Calumet Specialty Products Partners in the second quarter valued at approximately $76,000. Finally, Covestor Ltd purchased a new stake in Calumet Specialty Products Partners in the first quarter valued at approximately $77,000. 21.05% of the stock is owned by institutional investors.

Insider Activity at Calumet Specialty Products Partners

In other news, EVP Scott Obermeier acquired 4,800 shares of Calumet Specialty Products Partners stock in a transaction that occurred on Thursday, May 11th. The stock was purchased at an average cost of $16.99 per share, with a total value of $81,552.00. Following the purchase, the executive vice president now owns 192,599 shares in the company, valued at $3,272,257.01. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Scott Obermeier bought 4,800 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was acquired at an average cost of $16.99 per share, with a total value of $81,552.00. Following the purchase, the executive vice president now directly owns 192,599 shares of the company’s stock, valued at $3,272,257.01. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Daniel J. Sajkowski sold 11,142 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $19.52, for a total value of $217,491.84. Following the completion of the sale, the director now directly owns 156,607 shares of the company’s stock, valued at $3,056,968.64. The disclosure for this sale can be found here. 2.91% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the company. StockNews.com assumed coverage on Calumet Specialty Products Partners in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. UBS Group upped their price objective on Calumet Specialty Products Partners from $18.50 to $19.50 in a research report on Monday, May 15th. HC Wainwright lowered their price objective on Calumet Specialty Products Partners from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, January 25th. Finally, TheStreet upgraded Calumet Specialty Products Partners from a “d+” rating to a “c-” rating in a research report on Wednesday, March 15th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Calumet Specialty Products Partners has an average rating of “Moderate Buy” and a consensus target price of $21.88.

Calumet Specialty Products Partners Price Performance

Shares of NASDAQ:CLMT opened at $16.60 on Wednesday. Calumet Specialty Products Partners, L.P. has a 1 year low of $8.40 and a 1 year high of $20.50. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -32.55 and a beta of 2.03. The business’s 50 day moving average price is $16.98 and its 200-day moving average price is $16.92.

Calumet Specialty Products Partners (NASDAQ:CLMT – Get Rating) last posted its quarterly earnings data on Wednesday, March 15th. The oil and gas company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.17). Calumet Specialty Products Partners had a negative net margin of 0.90% and a negative return on equity of 14.95%. The firm had revenue of $999.80 million during the quarter, compared to analyst estimates of $984.85 million. On average, sell-side analysts expect that Calumet Specialty Products Partners, L.P. will post 1.02 earnings per share for the current year.

Calumet Specialty Products Partners Profile

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Calumet Specialty Products Partners LP engages in the production of specialty hydrocarbon products. It operates through the following segments: Specialty Products, Fuel Products and Corporate. The Specialty Products segment produces lubricating oils, solvents, waxes, synthetic lubricants and other products.