An issue of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) debt fell 1% against its face value during trading on Wednesday. The high-yield issue of debt has a 6.5% coupon and is set to mature on April 15, 2021. The debt is now trading at $81.00 and was trading at $82.25 last week. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research cut Calumet Specialty Products Partners, L.P from a “hold” rating to a “sell” rating in a research note on Monday, August 8th. DA Davidson reaffirmed a “neutral” rating on shares of Calumet Specialty Products Partners, L.P in a research note on Monday, September 19th. Finally, FBR & Co started coverage on Calumet Specialty Products Partners, L.P in a research note on Friday, September 9th. They set a “market perform” rating and a $6.00 target price for the company. Six research analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. Calumet Specialty Products Partners, L.P presently has a consensus rating of “Hold” and an average price target of $10.38.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) opened at 4.40 on Thursday. The company’s market cap is $336.03 million. The stock has a 50 day moving average price of $5.42 and a 200-day moving average price of $5.76. Calumet Specialty Products Partners, L.P has a 12-month low of $3.42 and a 12-month high of $27.88.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($1.89) earnings per share for the quarter, missing the consensus estimate of ($0.34) by $1.55. On average, analysts predict that Calumet Specialty Products Partners, L.P will post ($3.09) EPS for the current fiscal year.

In related news, EVP Bruce A. Fleming purchased 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The shares were bought at an average price of $5.50 per share, for a total transaction of $82,500.00. Following the purchase, the executive vice president now directly owns 85,000 shares of the company’s stock, valued at approximately $467,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Several hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services Inc increased its stake in Calumet Specialty Products Partners, L.P by 11.7% in the second quarter. Commonwealth Equity Services Inc now owns 21,643 shares of the company’s stock valued at $106,000 after buying an additional 2,274 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Calumet Specialty Products Partners, L.P by 56.3% in the second quarter. Janney Montgomery Scott LLC now owns 26,488 shares of the company’s stock valued at $130,000 after buying an additional 9,545 shares during the last quarter. IFP Advisors Inc increased its stake in Calumet Specialty Products Partners, L.P by 19.8% in the second quarter. IFP Advisors Inc now owns 29,155 shares of the company’s stock valued at $143,000 after buying an additional 4,816 shares during the last quarter. Fifth Third Bancorp increased its stake in Calumet Specialty Products Partners, L.P by 2.5% in the second quarter. Fifth Third Bancorp now owns 31,050 shares of the company’s stock valued at $152,000 after buying an additional 750 shares during the last quarter. Finally, Creative Planning increased its stake in Calumet Specialty Products Partners, L.P by 27.1% in the second quarter. Creative Planning now owns 33,956 shares of the company’s stock valued at $166,000 after buying an additional 7,250 shares during the last quarter.

Calumet Specialty Products Partners, L.P Company Profile

Calumet Specialty Products Partners, L.P. is a producer of specialty hydrocarbon products. The Company operates through three segments. In its specialty products segment, the Company processes crude oil and other feedstocks into a range of customized lubricating oils, white mineral oils, solvents, petrolatums and waxes.

5 Day Chart for NASDAQ:CLMT

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