Harspring Capital Management LLC bought a new position in Darling Ingredients Inc. (NYSE:DAR – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 163,500 shares of the company’s stock, valued at approximately $8,930,000. Darling Ingredients accounts for 16.6% of Harspring Capital Management LLC’s holdings, making the stock its biggest position.
A number of other institutional investors have also recently bought and sold shares of the business. SJS Investment Consulting Inc. raised its stake in shares of Darling Ingredients by 69.9% in the 1st quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock valued at $26,000 after buying an additional 174 shares in the last quarter. Turtle Creek Wealth Advisors LLC lifted its holdings in shares of Darling Ingredients by 2.6% during the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 7,625 shares of the company’s stock worth $472,000 after acquiring an additional 196 shares during the period. Fifth Third Wealth Advisors LLC boosted its position in shares of Darling Ingredients by 2.9% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 7,776 shares of the company’s stock valued at $481,000 after acquiring an additional 220 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in Darling Ingredients by 3.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 7,701 shares of the company’s stock valued at $277,000 after acquiring an additional 267 shares during the period. Finally, Basecamp Wealth Advisors LLC increased its stake in Darling Ingredients by 35.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 1,042 shares of the company’s stock valued at $64,000 after acquiring an additional 270 shares during the period. Institutional investors and hedge funds own 94.44% of the company’s stock.
Insiders Place Their Bets
In other news, CAO Joseph Manzi sold 1,000 shares of the 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 sale, the chief accounting officer owned 18,969 shares in the company, valued at approximately $1,276,044.63. This represents a 5.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nicholas James Kemphaus sold 1,591 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $63.05, for a total value of $100,312.55. Following the completion of the sale, the executive vice president owned 35,087 shares of the company’s stock, valued at approximately $2,212,235.35. This trade represents a 4.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 10,591 shares of company stock valued at $704,303. Company insiders own 1.90% of the company’s stock.
Darling Ingredients Price Performance
Darling Ingredients (NYSE:DAR – Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $1.01. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Darling Ingredients had a net margin of 9.13% and a return on equity of 12.98%. Darling Ingredients’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 earnings per share. On average, equities analysts predict that Darling Ingredients Inc. will post 6.98 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages have commented on DAR. Zacks Research upgraded shares of Darling Ingredients from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 19th. Barclays raised their target price on Darling Ingredients from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Weiss Ratings raised Darling Ingredients from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded Darling Ingredients from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 15th. Finally, TD Cowen lifted their price objective on Darling Ingredients from $70.00 to $80.00 and gave the company a “buy” rating in a report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Darling Ingredients presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.
Read Our Latest Analysis on Darling Ingredients
Darling Ingredients 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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