According to Bloomberg, the eight rating agencies that cover Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) have collectively assigned the company a rating of “Moderate Buy” as their average recommendation for the company. In addition, three analysts have positioned the stock with a hold rating, while four have positioned the stock with a buy recommendation. The $23.12 per share represents the one-year target price that brokers who have covered the company in the preceding year have projected for it in the coming year.
Throughout its existence, CLMT has been the subject of significant research and analyst work. On the trading day of Tuesday, December 13, UBS Group expanded its coverage to include Calumet Specialty Products Partners. They determined that a price target of $15.70 would be appropriate for the company and assigned it a ” neutral rating.” In addition, a research report on Calumet Specialty Products Partners published on StockNews.com on November 17 included a recommendation for the reader to “hold” the investment. In the past, it had been suggested that the company “sell” its stock.
When trading started on Wednesday, one share of Calumet Specialty Products Partners was going for $13.38 per unit. The company’s current market capitalization is 1.06 billion dollars, its price-to-earnings ratio is 5.92, and its beta value is 2.19. Currently, the company’s stock is trading at $16.41, which is higher than its 50-day simple moving average but $14.80 lower than its 200-day simple moving average. Calumet Specialty Products Partners hit a low of $8.40 during the past year, while the company reached a high of $20.50 during the same period.
Calumet Specialty Products Partners (NASDAQ: CLMT) released the results of its most recent quarterly financial report on November 9, 2018. The report was for the company’s most recent quarter. Earnings per share for the quarter reported by the oil and gas company came in at $0.59, which was $0.13 higher than the consensus estimate of $0.46. In addition, the most recent quarter’s actual sales for the company came in at $1.17 billion, which is significantly higher than the projection made by the consensus, which was $1.08 billion. As a result, during the current fiscal year, Calumet Specialty Products Partners is anticipated to generate $0.63 per share, as stated by the projections made available by equity research professionals.
In addition, on November 21, Stephen P. Mawer, Calumet Specialty Products Partners chairman, purchased 3,500 shares of the company’s stock. The price per share varied between $16.27 and $16.27 on average, resulting in a total price of $56,945.00 for the shares. Because of this transaction, the board’s chairman now owns 150,054 shares of the company’s stock. The current market value of these shares is $2,441,378.58. By following the link, which will take you to a legal file submitted to the SEC, you will have the opportunity to obtain additional information regarding the acquisition. In addition, on November 21, Stephen P. Mawer, Calumet Specialty Products Partners chairman, purchased 3,500 shares of the company’s stock. The price per share varied between $16.27 and $16.27 on average, resulting in a total price of $56,945.00 for the shares. Because of this transaction, the board’s chairman now owns 150,054 shares of the company’s stock. The current market value of these shares is $2,441,378.58. By following the link, which will take you to a legal file submitted to the SEC, you will have the opportunity to obtain additional information regarding the acquisition. James S. Carter, the director of the company, purchased 2,000 shares of the company’s stock on Friday, November 11. In addition to that, Mr. Carter made the purchase. On average, the price paid for each share was $18, which resulted in the acquisition of shares costing a total of $36,000.00 to be paid out in cash. The director is now the direct owner of 283,283 shares of the company’s stock, which have an approximate value of $5,099,094 thanks to the successful transaction completion. You should look in this location if you are looking for the disclosure that pertains to this transaction. Insiders of the company have spent a combined total of $160,765 over the past ninety days to purchase 9,500 shares of company stock. The company’s management and employees collectively own 2.91% of the company’s total shares of stock.
Recent events have resulted in several changes being implemented by hedge funds regarding the interests they previously held in the company. During the second quarter, BNP Paribas Arbitrage S.A. invested in Calumet Specialty Products Partners, amounting to approximately $76,000. In addition, worth Asset Management LLC invested approximately 54,000 dollars into Calumet Specialty Products Partners during the first three months of the year to bolster its existing holdings in the company. Through the third quarter, Tower Research Capital LLC (TRC) was able to amass 107.4 percentage points more Calumet Specialty Products Partners stock than before. After making additional purchases totaling 1,327 shares during the most recent quarter of the fiscal year, Tower Research Capital LLC (TRC) now holds a total of 2,562 shares in the oil and gas company, which are worth a combined total of $33,000. In addition, a new stake in Calumet Specialty Products Partners was purchased with an investment of approximately 169,000 dollars made by Financial Advocates Investment Management during the third quarter. Finally, Brown Advisory Inc. increased the amount of Calumet Specialty Products Partners stock owned by 13.5% during the third quarter, which is certainly not the least important thing that happened during that time. Brown Advisory Inc. has acquired a direct ownership stake of 63,113 in the oil and gas company, which is currently valued at $808,000. During the most recent fiscal quarter, this goal was accomplished by purchasing 7,500 additional company stock shares. At present, institutional investors own 21.05% of the company’s stock. This percentage includes investors who are associated with hedge funds.
Calumet Specialty Products Partners, L.P. is in charge of producing, developing, and marketing a wide variety of specialty-branded products in North America and other regions of the world. These responsibilities include both domestic and international markets. Customers are offered a diverse range of products by the corporation’s Specialty Products and Solutions division, which includes—but is not limited to—solvents, waxes, specialist lubricating oils, white oils, petrolatums, gels, esters, and more.
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