Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) dropped 1.1% on Monday . The stock traded as low as $4.45 and last traded at $4.48, with a volume of 241,859 shares traded. The stock had previously closed at $4.53.

CLMT has been the topic of several research reports. Zacks Investment Research upgraded shares of Calumet Specialty Products Partners, L.P from a “hold” rating to a “buy” rating and set a $5.25 price target on the stock in a research report on Tuesday, April 19th. Drexel Hamilton initiated coverage on shares of Calumet Specialty Products Partners, L.P in a research report on Wednesday, April 6th. They issued a “hold” rating and a $16.00 price target on the stock. Cowen and Company reduced their price target on shares of Calumet Specialty Products Partners, L.P from $23.00 to $10.00 and set a “market perform” rating on the stock in a research report on Monday, April 18th. Wells Fargo & Co. cut shares of Calumet Specialty Products Partners, L.P from an “outperform” rating to a “market perform” rating in a research report on Monday, April 18th. Finally, Janney Montgomery Scott cut shares of Calumet Specialty Products Partners, L.P from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $17.00 to $8.00 in a research report on Monday, April 18th. Five investment analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $12.16.

The company’s market capitalization is $348.37 million. The stock’s 50 day moving average price is $4.67 and its 200 day moving average price is $9.73.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) last posted its quarterly earnings data on Thursday, May 5th. The company reported ($0.87) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.83) by $0.04. On average, equities research analysts predict that Calumet Specialty Products Partners, L.P will post ($1.64) EPS for the current fiscal year.

In other news, Director Stephen P. Mawer acquired 11,000 shares of Calumet Specialty Products Partners, L.P stock in a transaction that occurred on Wednesday, May 18th. The stock was purchased at an average cost of $3.68 per share, with a total value of $40,480.00. Following the purchase, the director now owns 5,025 shares in the company, valued at $18,492. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP A Anderson William acquired 10,000 shares of Calumet Specialty Products Partners, L.P stock in a transaction that occurred on Monday, May 9th. The stock was purchased at an average cost of $4.07 per share, with a total value of $40,700.00. Following the completion of the purchase, the executive vice president now owns 25,392 shares in the company, valued at approximately $103,345.44. The disclosure for this purchase can be found here.

A number of hedge funds and institutional investors have recently bought and sold shares of CLMT. Marshall Wace LLP purchased a new position in Calumet Specialty Products Partners, L.P during the fourth quarter valued at approximately $4,173,000. Morgan Stanley increased its position in Calumet Specialty Products Partners, L.P by 51.9% in the fourth quarter. Morgan Stanley now owns 860,510 shares of the company’s stock valued at $17,133,000 after buying an additional 293,839 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Calumet Specialty Products Partners, L.P by 212.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 120,664 shares of the company’s stock worth $2,402,000 after buying an additional 82,035 shares during the period. Finally, Penserra Capital Management LLC bought a new stake in shares of Calumet Specialty Products Partners, L.P during the fourth quarter worth about $7,943,000.

Calumet Specialty Products Partners, L.P. (Calumet) is a producer of specialty hydrocarbon products in North America. The Company’s segments include specialty products, fuel products and oilfield services. In its specialty products segment, it processes crude oil and other feedstocks into a range of customized lubricating oils, white mineral oils, solvents, petrolatums and waxes.

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