Darling Ingredients Inc. $DAR Stock: Private Management Group Inc. Decreases Stake

Private Management Group Inc. reduced its stake in Darling Ingredients Inc. (NYSE:DAR) by 4.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 663,586 shares of the company’s stock after selling 34,268 shares during the quarter. Darling Ingredients accounts for approximately 1.0% of Private Management Group Inc.’s portfolio, making the stock its 23rd biggest position. Private Management Group Inc.’s holdings in Darling Ingredients were worth $40,286,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Darling Ingredients in the second quarter valued at about $851,450,000. AIA Group Ltd bought a new position in shares of Darling Ingredients during the first quarter valued at about $4,453,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Darling Ingredients during the second quarter valued at about $1,447,000. Bank of America Corp DE purchased a new position in Darling Ingredients during the second quarter worth about $129,371,000. Finally, Hsbc Holdings PLC boosted its holdings in Darling Ingredients by 246.8% during the second quarter. Hsbc Holdings PLC now owns 144,263 shares of the company’s stock worth $7,953,000 after purchasing an additional 102,664 shares during the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Darling Ingredients

In other Darling Ingredients news, EVP Patrick McNutt sold 8,000 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $67.09, for a total transaction of $536,720.00. Following the completion of the transaction, the executive vice president directly owned 35,777 shares of the company’s stock, valued at approximately $2,400,278.93. This represents a 18.27% 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, CAO Joseph Manzi sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $67.27, for a total value of $67,270.00. Following the completion of the sale, the chief accounting officer directly owned 18,969 shares of the company’s stock, valued at $1,276,044.63. This represents a 5.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DAR. Jefferies Financial Group raised shares of Darling Ingredients to a “strong-buy” rating in a research report on Tuesday, September 29th. Weiss Ratings raised shares of Darling Ingredients from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 12th. Wall Street Zen downgraded Darling Ingredients from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 31st. Barclays upped their target price on Darling Ingredients from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Finally, TD Cowen upped 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. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.80.

Darling Ingredients Price Performance

DAR opened at $52.51 on Tuesday. Darling Ingredients Inc. has a fifty-two week low of $31.81 and a fifty-two week high of $69.98. The firm has a 50-day moving average of $60.80 and a 200 day moving average of $58.56. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.03 and a current ratio of 1.56. The firm has a market cap of $8.29 billion, a P/E ratio of 9.98 and a beta of 1.00.

Darling Ingredients (NYSE:DAR) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.03). The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.79 billion. Darling Ingredients had a return on equity of 17.76% and a net margin of 12.48%. During the same quarter in the previous year, the business earned $0.12 EPS. On average, research analysts expect that Darling Ingredients Inc. will post 6.85 EPS for the current year.

Darling Ingredients Company Profile

Darling Ingredients Inc collects and transforms animal by-products and other organic materials into ingredients and products used in food, animal feed, fuel and other markets. Its operations help convert materials from meat processing, food production and used cooking oils into usable fats, proteins, oils and other ingredients.

The company’s businesses span feed ingredients, food ingredients and fuel ingredients. Products include animal nutrition ingredients, gelatin and collagen, and fats and oils used in food and industrial applications.