Peregrine Capital Management LLC Trims Stock Holdings in Darling Ingredients Inc. $DAR

Peregrine Capital Management LLC decreased its stake in Darling Ingredients Inc. (NYSE:DAR) by 7.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,912 shares of the company’s stock after selling 15,894 shares during the quarter. Peregrine Capital Management LLC’s holdings in Darling Ingredients were worth $7,698,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in Darling Ingredients by 0.5% in the first quarter. Vanguard Group Inc. now owns 15,641,921 shares of the company’s stock worth $488,654,000 after buying an additional 73,925 shares in the last quarter. Gates Capital Management Inc. grew its position in shares of Darling Ingredients by 18.7% during the first quarter. Gates Capital Management Inc. now owns 7,915,560 shares of the company’s stock worth $247,282,000 after purchasing an additional 1,247,117 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Darling Ingredients by 15.9% during the first quarter. Dimensional Fund Advisors LP now owns 7,480,803 shares of the company’s stock worth $233,701,000 after purchasing an additional 1,026,958 shares in the last quarter. Earnest Partners LLC grew its position in shares of Darling Ingredients by 0.9% during the first quarter. Earnest Partners LLC now owns 4,082,416 shares of the company’s stock worth $127,535,000 after purchasing an additional 36,085 shares in the last quarter. Finally, Deutsche Bank AG grew its position in shares of Darling Ingredients by 2.4% during the first quarter. Deutsche Bank AG now owns 3,394,250 shares of the company’s stock worth $106,036,000 after purchasing an additional 78,770 shares in the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Insider Activity

In related news, CEO Randall C. Stuewe sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $30.92, for a total transaction of $1,082,200.00. Following the completion of the sale, the chief executive officer directly owned 781,437 shares of the company’s stock, valued at approximately $24,162,032.04. This trade represents a 4.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.62% of the company’s stock.

Darling Ingredients Trading Down 0.3%

DAR stock opened at $34.46 on Tuesday. The firm has a market cap of $5.45 billion, a PE ratio of 51.43, a price-to-earnings-growth ratio of 2.08 and a beta of 1.22. Darling Ingredients Inc. has a fifty-two week low of $26.00 and a fifty-two week high of $43.49. The firm has a fifty day moving average price of $32.13 and a 200 day moving average price of $33.17. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 1.50.

Darling Ingredients (NYSE:DAR) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.50 billion. Darling Ingredients had a net margin of 1.84% and a return on equity of 2.41%. Darling Ingredients’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 earnings per share. Sell-side analysts anticipate that Darling Ingredients Inc. will post 2.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on DAR. UBS Group reiterated a “buy” rating and set a $58.00 target price on shares of Darling Ingredients in a research report on Friday. Zacks Research cut Darling Ingredients from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 16th. JPMorgan Chase & Co. initiated coverage on Darling Ingredients in a research report on Wednesday, August 20th. They set an “overweight” rating and a $43.00 target price for the company. Piper Sandler cut their price target on Darling Ingredients from $50.00 to $49.00 and set an “overweight” rating for the company in a report on Friday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Darling Ingredients in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Darling Ingredients currently has an average rating of “Moderate Buy” and an average target price of $45.00.

Darling Ingredients Company Profile

Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.