Zacks Investment Research downgraded shares of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) from a hold rating to a sell rating in a report released on Wednesday.

According to Zacks, “Calumet Specialty Products Partners, L.P. is a leading independent producer of high-quality, specialty hydrocarbon products in North America. Calumet processes crude oil into customized lubricating oils, solvents, and waxes used in consumer, industrial, and automotive products. The Company also produces fuel products including gasoline, diesel fuel and jet fuel. Calumet is based in Indianapolis, Indiana and has three plants located in northwest Louisiana. “

CLMT has been the topic of a number of other reports. FBR & Co initiated coverage on shares of Calumet Specialty Products Partners, L.P in a report on Friday, September 9th. They set a market perform rating and a $6.00 target price on the stock. DA Davidson reiterated a neutral rating on shares of Calumet Specialty Products Partners, L.P in a report on Monday, September 19th. Six research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $10.38.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) traded up 1.5932% during midday trading on Wednesday, hitting $4.4701. The stock had a trading volume of 29,708 shares. The firm’s market capitalization is $341.39 million. The firm has a 50-day moving average of $5.42 and a 200 day moving average of $5.76. Calumet Specialty Products Partners, L.P has a 52-week low of $3.42 and a 52-week high of $27.88.

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

In related news, EVP Bruce A. Fleming acquired 15,000 shares of Calumet Specialty Products Partners, L.P stock in a transaction that occurred on Wednesday, August 24th. The stock was purchased at an average price of $5.50 per share, for a total transaction of $82,500.00. Following the completion of the purchase, the executive vice president now directly owns 85,000 shares of the company’s stock, valued at $467,500. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Several hedge funds have recently made changes to their positions in CLMT. Commonwealth Equity Services Inc boosted its stake in shares of 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 period. Janney Montgomery Scott LLC boosted its stake in shares of 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 period. IFP Advisors Inc boosted its stake in shares of 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 period. Fifth Third Bancorp boosted its stake in shares of 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 period. Finally, Creative Planning boosted its stake in shares of 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 period.

About Calumet Specialty Products Partners, L.P

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.

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