Calumet Specialty Products Partners (NASDAQ:CLMT) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of Calumet Specialty Products Partners (NASDAQ:CLMT – Get Rating) from a sell rating to a hold rating in a report published on Monday morning.

Several other brokerages have also issued reports on CLMT. UBS Group started coverage on Calumet Specialty Products Partners in a research note on Tuesday, December 13th. They issued a neutral rating and a $15.70 target price for the company. HC Wainwright dropped their target price on Calumet Specialty Products Partners from $28.00 to $25.00 and set a buy rating for the company in a report on Wednesday, January 25th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $22.54.

Calumet Specialty Products Partners Trading Down 2.0 %

Shares of CLMT opened at $17.75 on Monday. The stock has a 50-day moving average price of $17.87 and a 200-day moving average price of $16.75. The company has a market cap of $1.41 billion, a PE ratio of -7.85 and a beta of 2.05. Calumet Specialty Products Partners has a 12-month low of $8.40 and a 12-month high of $20.50.

Insiders Place Their Bets

In related news, Director Daniel J. Sajkowski sold 11,142 shares of Calumet Specialty Products Partners stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $19.52, for a total transaction of $217,491.84. Following the transaction, the director now owns 156,607 shares in the company, valued at approximately $3,056,968.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.91% of the company’s stock.

Hedge Funds Weigh In On Calumet Specialty Products Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Windsor Group LTD grew its position in shares of Calumet Specialty Products Partners by 248.2% during the third quarter. Windsor Group LTD now owns 420,878 shares of the oil and gas company’s stock valued at $6,103,000 after purchasing an additional 300,000 shares in the last quarter. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Calumet Specialty Products Partners during the third quarter valued at $607,000. Independent Advisor Alliance raised its stake in shares of Calumet Specialty Products Partners by 13.7% during the third quarter. Independent Advisor Alliance now owns 40,052 shares of the oil and gas company’s stock valued at $513,000 after acquiring an additional 4,840 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of Calumet Specialty Products Partners in the 4th quarter worth $203,000. Finally, ING Groep NV purchased a new stake in Calumet Specialty Products Partners during the fourth quarter worth $1,215,000. Institutional investors own 21.05% of the company’s stock.

About Calumet Specialty Products Partners

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Calumet Specialty Products Partners LP engages in the production of specialty hydrocarbon products. It operates through the following segments: Specialty Products, Fuel Products and Corporate. The Specialty Products segment produces lubricating oils, solvents, waxes, synthetic lubricants and other products.