In a recent transaction on May 15, Gregory J. Morical, the Senior Vice President and General Counsel of Calumet Specialty Products (NASDAQ:CLMT) Partners, L.P. (NASDAQ:CLMT), sold 11,111 common units of the company at a price of $15.04 per unit. The total value of the stock sold amounted to approximately $167,109.
The transaction was disclosed in a filing with the Securities and Exchange Commission. Following the sale, Morical's direct ownership in the company stands at 33,845 common units. The sale occurred as part of regular stock trading and was not part of a pre-arranged trading plan.
Calumet Specialty Products Partners, L.P., based in Indianapolis, Indiana, operates in the petroleum refining industry and is known for producing specialty hydrocarbon products.
Investors often keep an eye on insider transactions as they can provide insights into an executive's view of the company's current valuation and future prospects. However, such transactions can be subject to various personal financial considerations and therefore do not always indicate a change in company fundamentals.
The details of the transaction are publicly available and provide transparency into the trading activities of the company's insiders.
InvestingPro Insights
As investors consider the implications of Gregory J. Morical's recent sale of Calumet Specialty Products Partners common units, it's essential to examine the company's financial health and market performance through the lens of InvestingPro data and insights.
Calumet Specialty Products Partners (NASDAQ:CLMT) currently holds a market capitalization of $1.23 billion. Despite a challenging period, the company has managed to maintain a significant size in the market. However, the InvestingPro Data reveals a negative P/E ratio over the last twelve months as of Q1 2024, standing at -66.25, which indicates that the company has not been profitable during this time. This is further supported by a gross profit margin of 10.03%, which, while positive, suggests that the company is experiencing pressure on its profitability.
On the brighter side, analysts predict that Calumet will achieve profitability this year, which could signify a turnaround for the company. This is a crucial InvestingPro Tip for investors looking for potential growth. Moreover, the company has seen a strong return over the last five years, which may interest long-term investors.
For those considering deeper analysis, InvestingPro offers additional insights on Calumet Specialty Products Partners. There are six more InvestingPro Tips available, which can provide investors with a comprehensive understanding of the company's financial position and future outlook. To gain access to these valuable tips, visit https://www.investing.com/pro/CLMT and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
Understanding the nuances of insider transactions like those of Mr. Morical can be complex, and the InvestingPro platform offers the detailed data and expert analysis that can help investors make informed decisions.
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