Sheets Smith Wealth Management Increases Stock Position in Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)

Sheets Smith Wealth Management boosted its holdings in shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) by 11.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,202 shares of the oil and gas company’s stock after acquiring an additional 1,225 shares during the quarter. Sheets Smith Wealth Management’s holdings in Calumet Specialty Products Partners were worth $218,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Sapient Capital LLC bought a new position in shares of Calumet Specialty Products Partners in the 4th quarter worth $188,000. Advisor Resource Council purchased a new position in Calumet Specialty Products Partners in the fourth quarter valued at about $216,000. J.W. Cole Advisors Inc. grew its position in shares of Calumet Specialty Products Partners by 23.4% in the 4th quarter. J.W. Cole Advisors Inc. now owns 19,750 shares of the oil and gas company’s stock worth $353,000 after buying an additional 3,750 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Calumet Specialty Products Partners by 34.6% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 19,831 shares of the oil and gas company’s stock worth $379,000 after acquiring an additional 5,100 shares in the last quarter. Finally, Cerity Partners LLC purchased a new stake in Calumet Specialty Products Partners during the fourth quarter valued at approximately $393,000. Institutional investors own 34.41% of the company’s stock.

Calumet Specialty Products Partners Trading Up 0.1 %

Shares of Calumet Specialty Products Partners stock opened at $16.22 on Tuesday. Calumet Specialty Products Partners, L.P. has a twelve month low of $11.91 and a twelve month high of $19.91. The firm’s 50-day moving average price is $15.16 and its 200 day moving average price is $15.86. The firm has a market capitalization of $1.30 billion, a PE ratio of 20.53 and a beta of 1.75.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its quarterly earnings results on Friday, February 23rd. The oil and gas company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.40). The company had revenue of $976.50 million for the quarter, compared to analysts’ expectations of $856.71 million. During the same quarter in the previous year, the firm earned ($0.21) EPS. The company’s revenue was down 2.3% compared to the same quarter last year. On average, sell-side analysts predict that Calumet Specialty Products Partners, L.P. will post -0.86 EPS for the current fiscal year.

Analyst Ratings Changes

CLMT has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Calumet Specialty Products Partners in a research report on Monday, April 22nd. The Goldman Sachs Group cut their price target on Calumet Specialty Products Partners from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, March 21st. Finally, StockNews.com started coverage on Calumet Specialty Products Partners in a research note on Tuesday, April 30th. They issued a “hold” rating on the stock.

About Calumet Specialty Products Partners

Calumet Specialty Products Partners, L.P. manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to various consumer-facing and industrial markets in North America and internationally. It operates through Specialty Products and Solutions; Performance brands; Montana/Renewables; and Corporate segments.