Insider Selling: Calumet (NASDAQ:CLMT) Director Sells 20,000 Shares of Stock

Calumet, Inc. (NASDAQ:CLMT) Director Daniel Sajkowski sold 20,000 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $12.55, for a total transaction of $251,000.00. Following the completion of the transaction, the director owned 121,959 shares in the company, valued at $1,530,585.45. The trade was a 14.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Calumet Stock Up 2.1%

CLMT stock traded up $0.63 during mid-day trading on Thursday, reaching $30.22. 1,721,709 shares of the stock traded hands, 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. The business has a 50-day moving average of $22.92 and a two-hundred day moving average of $19.82. Calumet, Inc. has a 52 week low of $7.68 and a 52 week high of $30.35.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Islay Capital Management LLC bought a new stake in Calumet in the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd lifted its holdings in shares of Calumet by 294.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 1,229 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of Calumet during the 4th quarter valued at about $34,000. Amalgamated Bank bought a new stake in Calumet in the second quarter valued at about $37,000. Finally, Covestor Ltd increased its stake in Calumet by 29.1% in the fourth quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 492 shares during the period. 34.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on CLMT. Wall Street Zen lowered Calumet from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. TD Cowen restated a “hold” rating on shares of Calumet in a research note on Thursday, January 29th. The Goldman Sachs Group boosted their target price on shares of Calumet from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Calumet in a report on Monday, December 29th. Finally, Zacks Research upgraded shares of Calumet from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Calumet presently has a consensus rating of “Hold” and an average target price 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.