Calumet (NASDAQ:CLMT) Trading Down 2.7% on Insider Selling

Calumet, Inc. (NASDAQ:CLMT)’s stock price dropped 2.7% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $16.27 and last traded at $16.43. Approximately 209,452 shares were traded during trading, a decline of 78% from the average daily volume of 958,886 shares. The stock had previously closed at $16.88.

Specifically, Director Jennifer Straumins sold 100,000 shares of Calumet stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $16.23, for a total transaction of $1,623,000.00. Following the sale, the director now directly owns 934,589 shares of the company’s stock, valued at approximately $15,168,379.47. The trade was a 9.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jennifer Straumins sold 50,000 shares of Calumet stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $15.08, for a total value of $754,000.00. Following the sale, the director now directly owns 1,034,589 shares in the company, valued at approximately $15,601,602.12. The trade was a 4.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, SVP Gregory J. Morical sold 25,123 shares of Calumet stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $16.69, for a total transaction of $419,302.87. Following the completion of the transaction, the senior vice president now directly owns 39,415 shares in the company, valued at approximately $657,836.35. This trade represents a 38.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CLMT shares. UBS Group upgraded shares of Calumet from a “sell” rating to a “neutral” rating and lowered their target price for the company from $15.00 to $12.00 in a report on Monday, March 17th. The Goldman Sachs Group lowered their target price on shares of Calumet from $16.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Bank of America started coverage on shares of Calumet in a report on Tuesday, May 13th. They set a “buy” rating and a $15.00 target price for the company. HC Wainwright reiterated a “buy” rating and set a $33.00 target price on shares of Calumet in a report on Monday, March 3rd. Finally, Wells Fargo & Company lowered their target price on shares of Calumet from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $18.50.

Calumet Trading Down 2.7%

The company has a market capitalization of $1.42 billion, a PE ratio of -4.11 and a beta of 0.91. The business’s fifty day moving average is $12.51 and its two-hundred day moving average is $15.25.

Calumet (NASDAQ:CLMT) last announced its quarterly earnings data on Friday, May 9th. The oil and gas company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.62). The company had revenue of $993.90 million for the quarter, compared to the consensus estimate of $899.62 million. During the same period in the prior year, the firm posted ($0.51) EPS. The firm’s revenue was down 1.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Calumet, Inc. will post -3.02 EPS for the current year.

Calumet Company Profile

Calumet, Inc engages in the manufacturing, formulating, and marketing of a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. It operates through the following segments: Specialty Products & Solutions, Performance Brands, Montana/Renewables, and Corporate.