Sound Point Capital Management LP grew its holdings in shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) by 6.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 799,651 shares of the oil and gas company’s stock after acquiring an additional 51,118 shares during the quarter. Calumet Specialty Products Partners, L.P. accounts for approximately 0.7% of Sound Point Capital Management LP’s investment portfolio, making the stock its 22nd largest position. Sound Point Capital Management LP’s holdings in Calumet Specialty Products Partners, L.P. were worth $3,399,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CLMT. Investment Centers of America Inc. increased its stake in shares of Calumet Specialty Products Partners, L.P. by 1.2% in the second quarter. Investment Centers of America Inc. now owns 23,984 shares of the oil and gas company’s stock valued at $103,000 after buying an additional 292 shares during the period. Fifth Third Bancorp increased its stake in shares of Calumet Specialty Products Partners, L.P. by 5.0% in the first quarter. Fifth Third Bancorp now owns 31,800 shares of the oil and gas company’s stock valued at $121,000 after buying an additional 1,500 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Calumet Specialty Products Partners, L.P. by 350.0% in the second quarter. JPMorgan Chase & Co. now owns 36,000 shares of the oil and gas company’s stock valued at $154,000 after buying an additional 28,000 shares during the period. Virtu KCG Holdings LLC increased its stake in shares of Calumet Specialty Products Partners, L.P. by 6.6% in the second quarter. Virtu KCG Holdings LLC now owns 47,580 shares of the oil and gas company’s stock valued at $202,000 after buying an additional 2,931 shares during the period. Finally, GSA Capital Partners LLP increased its stake in shares of Calumet Specialty Products Partners, L.P. by 72.0% in the second quarter. GSA Capital Partners LLP now owns 230,822 shares of the oil and gas company’s stock valued at $981,000 after buying an additional 96,622 shares during the period. 9.70% of the stock is owned by hedge funds and other institutional investors.

Shares of Calumet Specialty Products Partners, L.P. (CLMT) traded down 3.07% during mid-day trading on Friday, reaching $7.90. The company had a trading volume of 287,642 shares. The stock has a 50 day moving average price of $7.97 and a 200 day moving average price of $5.32. The firm’s market capitalization is $606.16 million. Calumet Specialty Products Partners, L.P. has a 12-month low of $2.79 and a 12-month high of $9.10.

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) last released its quarterly earnings results on Friday, August 4th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.46) by $0.58. Calumet Specialty Products Partners, L.P. had a negative net margin of 2.81% and a negative return on equity of 48.17%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $841.00 million. On average, equities analysts forecast that Calumet Specialty Products Partners, L.P. will post $0.29 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Sound Point Capital Management LP Has $3.40 Million Holdings in Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)” was originally published by Marea Informative and is the sole property of of Marea Informative. If you are reading this report on another publication, it was copied illegally and republished in violation of international copyright and trademark laws. The legal version of this report can be viewed at http://www.mareainformativa.com/calumet-specialty-products-partners-l-p-clmt-holdings-lifted-by-sound-point-capital-management-lp/117216/.

Several research analysts have recently issued reports on the company. Zacks Investment Research downgraded Calumet Specialty Products Partners, L.P. from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Janney Montgomery Scott downgraded Calumet Specialty Products Partners, L.P. from a “buy” rating to a “neutral” rating and upped their price objective for the company from $8.50 to $9.00 in a research note on Tuesday, September 5th. Wells Fargo & Company upped their price objective on Calumet Specialty Products Partners, L.P. from $7.00 to $10.00 and gave the company an “outperform” rating in a research note on Friday, September 29th. They noted that the move was a valuation call. ValuEngine raised Calumet Specialty Products Partners, L.P. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Finally, BidaskClub upgraded Calumet Specialty Products Partners, L.P. from a “sell” rating to a “hold” rating in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. Calumet Specialty Products Partners, L.P. has a consensus rating of “Hold” and an average target price of $6.00.

In related news, CFO David West Griffin bought 6,100 shares of the company’s stock in a transaction dated Friday, July 28th. The stock was bought at an average price of $5.24 per share, with a total value of $31,964.00. Following the transaction, the chief financial officer now owns 43,152 shares of the company’s stock, valued at $226,116.48. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders have purchased a total of 36,805 shares of company stock worth $183,880 in the last ninety days. 4.75% of the stock is currently owned by insiders.

Calumet Specialty Products Partners, L.P. Profile

Calumet Specialty Products Partners, L.P. is a producer of specialty hydrocarbon products in North America. The Company operates through three segments: specialty products, fuel products and oilfield services. 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.

Institutional Ownership by Quarter for Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)

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