Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) dropped 3.8% on Wednesday . The company traded as low as $4.78 and last traded at $4.79, with a volume of 147,504 shares. The stock had previously closed at $4.98.

CLMT has been the subject of a number of research reports. Ladenburg Thalmann downgraded Calumet Specialty Products Partners, L.P from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $27.00 to $11.00 in a report on Friday, April 22nd. Credit Suisse Group AG lifted their target price on Calumet Specialty Products Partners, L.P from $6.00 to $11.00 and gave the stock an “underperform” rating in a report on Monday, April 25th. Zacks Investment Research raised Calumet Specialty Products Partners, L.P from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 28th. Royal Bank Of Canada downgraded Calumet Specialty Products Partners, L.P from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $22.00 to $7.00 in a report on Monday, April 18th. Finally, Howard Weil decreased their target price on Calumet Specialty Products Partners, L.P from $19.00 to $5.00 and set a “sector underperform” rating for the company in a report on Monday, April 18th. Six equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $10.71.

The stock’s 50 day moving average is $4.72 and its 200 day moving average is $7.88. The company’s market capitalization is $364.29 million.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($1.89) EPS for the quarter, missing the consensus estimate of ($0.34) by $1.55. On average, equities analysts anticipate that Calumet Specialty Products Partners, L.P will post ($1.84) earnings per share for the current year.

In other news, CEO Timothy Go acquired 25,000 shares of Calumet Specialty Products Partners, L.P stock in a transaction that occurred on Thursday, May 12th. The stock was purchased at an average cost of $3.82 per share, with a total value of $95,500.00. Following the completion of the acquisition, the chief executive officer now owns 27,607 shares in the company, valued at approximately $105,458.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James S. Carter acquired 26,700 shares of Calumet Specialty Products Partners, L.P stock in a transaction that occurred on Tuesday, May 17th. The shares were purchased at an average cost of $3.72 per share, with a total value of $99,324.00. Following the completion of the acquisition, the director now owns 66,341 shares of the company’s stock, valued at approximately $246,788.52. The disclosure for this purchase can be found here.

A hedge fund recently bought a new stake in Calumet Specialty Products Partners, L.P stock. Marshall Wace LLP acquired a new position in shares of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 209,614 shares of the company’s stock, valued at approximately $4,173,000. Marshall Wace LLP owned approximately 0.28% of Calumet Specialty Products Partners, L.P as of its most recent SEC filing.

Calumet Specialty Products Partners, L.P. is a producer of specialty hydrocarbon products. The Company operates through three segments. In its specialty products segment, the Company processes crude oil and other feedstocks into a range of customized lubricating oils, white mineral oils, solvents, petrolatums and waxes.

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