Insider Selling: Calumet (NASDAQ:CLMT) Director Sells $274,600.00 in Stock

Calumet, Inc. (NASDAQ:CLMT) Director Daniel Sajkowski sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $13.73, for a total value of $274,600.00. Following the transaction, the director directly owned 141,959 shares in the company, valued at approximately $1,949,097.07. This trade represents a 12.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Calumet Stock Performance

Calumet stock traded up $0.63 during mid-day trading on Thursday, reaching $30.22. The stock had a trading volume of 1,721,709 shares, compared to its average volume of 1,367,486. The firm has a market capitalization of $2.62 billion, a PE ratio of -70.28 and a beta of 1.24. Calumet, Inc. has a fifty-two week low of $7.68 and a fifty-two week high of $30.35. The stock’s 50-day simple moving average is $22.92 and its 200-day simple moving average is $19.82.

Institutional Trading of Calumet

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CLMT shares. UBS Group reiterated a “neutral” rating and set a $26.00 price objective on shares of Calumet in a report on Friday, February 13th. Wall Street Zen cut shares of Calumet from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. The Goldman Sachs Group boosted their price objective on Calumet from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, January 30th. TD Cowen reissued a “hold” rating on shares of Calumet in a research note on Thursday, January 29th. Finally, Zacks Research raised Calumet from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Calumet currently has a consensus rating of “Hold” and an average price target 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.