Daniel Sajkowski Sells 4,240 Shares of Calumet (NASDAQ:CLMT) Stock

Calumet, Inc. (NASDAQ:CLMT) Director Daniel Sajkowski sold 4,240 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $36.16, for a total value of $153,318.40. Following the sale, the director directly owned 77,718 shares of the company’s stock, valued at approximately $2,810,282.88. This represents a 5.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Calumet Price Performance

Shares of NASDAQ CLMT opened at $36.42 on Friday. The firm has a 50-day moving average price of $33.84 and a 200 day moving average price of $28.91. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of -16.86 and a beta of 0.72. Calumet, Inc. has a 52 week low of $12.94 and a 52 week high of $38.75.

Calumet (NASDAQ:CLMT) last released its quarterly earnings results on Friday, May 8th. The oil and gas company reported ($3.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($3.31). The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1 billion. Calumet’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.87) EPS. Equities research analysts expect that Calumet, Inc. will post -0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Calumet by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 4,703,040 shares of the oil and gas company’s stock worth $93,449,000 after purchasing an additional 58,376 shares during the last quarter. Bank of America Corp DE raised its position in shares of Calumet by 65.1% in the first quarter. Bank of America Corp DE now owns 1,153,744 shares of the oil and gas company’s stock valued at $41,419,000 after buying an additional 454,985 shares during the last quarter. Marshall Wace LLP raised its position in shares of Calumet by 35.8% in the third quarter. Marshall Wace LLP now owns 891,390 shares of the oil and gas company’s stock valued at $16,268,000 after buying an additional 234,766 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Calumet during the first quarter valued at approximately $14,066,000. Finally, Mariner LLC lifted its stake in shares of Calumet by 959.6% during the third quarter. Mariner LLC now owns 369,408 shares of the oil and gas company’s stock valued at $6,742,000 after buying an additional 334,544 shares during the period. Institutional investors and hedge funds own 34.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CLMT shares. Weiss Ratings raised Calumet from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. HC Wainwright increased their price objective on shares of Calumet from $33.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, March 30th. The Goldman Sachs Group downgraded shares of Calumet from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a report on Friday, April 24th. Finally, TD Cowen restated a “hold” rating on shares of Calumet in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $36.75.

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.