Top Buys by Top Brass: EVP - Strategy & Growth Fleming's $279.1K Bet on CLMT

A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $279.1K invested across 2 purchases by Bruce A. Fleming, EVP - Strategy & Growth at Calumet Specialty Product Partners LP (CLMT).

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Fleming bets big on CLMT:
Purchased Insider Title Shares Price/Share Value
08/24/2016 Bruce A. Fleming EVP - Strategy & Growth 15,000 $5.50 $82,500.00
11/08/2016 Bruce A. Fleming EVP - Strategy & Growth 57,999 $3.39 $196,616.61

Fleming's average cost works out to $3.82/share. Shares of Calumet Specialty Product Partners LP were changing hands at $4.35 at last check, trading up about 4.2% on Tuesday. The chart below shows the one year performance of CLMT shares, versus its 200 day moving average:

Calumet Specialty Product Partners LP Chart

Looking at the chart above, CLMT's low point in its 52 week range is $2.79 per share, with $26.75 as the 52 week high point — that compares with a last trade of $4.35.

According to the ETF Finder at ETF Channel, CLMT makes up 1.07% of the Junior MLP ETF ( MLPJ) which is trading up by about 1.6% on the day Tuesday.

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