SIR Capital Management L.P. purchased a new stake in Darling Ingredients Inc. (NYSE:DAR – Free Report) in the second quarter, HoldingsChannel reports. The firm purchased 113,800 shares of the company’s stock, valued at approximately $6,216,000.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Darling Ingredients in the second quarter worth $851,450,000. AIA Group Ltd bought a new position in Darling Ingredients in the 1st quarter valued at about $4,453,000. Fideuram Asset Management Ireland dac acquired a new position in shares of Darling Ingredients in the 4th quarter valued at approximately $585,000. BNP Paribas Financial Markets lifted its holdings in shares of Darling Ingredients by 26.8% during the 4th quarter. BNP Paribas Financial Markets now owns 1,310,516 shares of the company’s stock worth $47,179,000 after acquiring an additional 277,233 shares during the period. Finally, Strs Ohio boosted its position in shares of Darling Ingredients by 7,554.6% during the 1st quarter. Strs Ohio now owns 286,740 shares of the company’s stock worth $17,735,000 after acquiring an additional 282,994 shares in the last quarter. Institutional investors own 94.44% of the company’s stock.
Insider Transactions at Darling Ingredients
In other Darling Ingredients news, EVP Patrick Mcnutt sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $67.09, for a total transaction of $536,720.00. Following the sale, the executive vice president directly owned 35,777 shares of the company’s stock, valued at $2,400,278.93. The trade was a 18.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Joseph Manzi sold 1,000 shares of Darling Ingredients stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $67.27, for a total transaction of $67,270.00. Following the transaction, the chief accounting officer owned 18,969 shares in the company, valued at approximately $1,276,044.63. This trade represents a 5.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 10,591 shares of company stock worth $704,303. 1.90% of the stock is owned by corporate insiders.
Darling Ingredients Stock Down 5.1%
Darling Ingredients (NYSE:DAR – Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $2.41 EPS for the quarter, beating the consensus estimate of $1.40 by $1.01. Darling Ingredients had a return on equity of 12.98% and a net margin of 9.13%.The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the company earned $0.08 earnings per share. The business’s quarterly revenue was up 16.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Darling Ingredients Inc. will post 6.98 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. TD Cowen raised their target price on Darling Ingredients from $70.00 to $80.00 and gave the company a “buy” rating in a report on Monday, July 27th. Zacks Research raised Darling Ingredients from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 19th. JPMorgan Chase & Co. raised their price objective on Darling Ingredients from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Barclays lifted their target price on Darling Ingredients from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Finally, Jefferies Financial Group increased their target price on shares of Darling Ingredients from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Darling Ingredients presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.
Get Our Latest Analysis on DAR
Darling Ingredients Company Profile
Darling Ingredients Inc (NYSE: DAR) is a global leader in converting edible and inedible bio-nutrient streams into sustainable food, feed ingredients, renewable fuels and specialty products. Founded in 1882 and headquartered in Irving, Texas, the company builds on more than a century of experience in animal rendering and by-product recycling. Over time, Darling has expanded its capabilities beyond traditional rendering to include advanced processing technologies that support a circular economy and reduce waste from food and agricultural industries.
The company’s core operations revolve around four primary segments: Feed Ingredients & Services, Food & Nutrition, Fuel Ingredients & Services, and Specialty Ingredients.
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