Strs Ohio Raises Position in Darling Ingredients Inc. $DAR

Strs Ohio boosted its holdings in shares of Darling Ingredients Inc. (NYSE:DAR) by 7,554.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 286,740 shares of the company’s stock after buying an additional 282,994 shares during the period. Strs Ohio’s holdings in Darling Ingredients were worth $17,735,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Danske Bank A S bought a new position in Darling Ingredients in the 3rd quarter worth about $25,000. Allworth Financial LP boosted its position in shares of Darling Ingredients by 227.2% during the 4th quarter. Allworth Financial LP now owns 733 shares of the company’s stock valued at $26,000 after acquiring an additional 509 shares during the last quarter. SJS Investment Consulting Inc. grew its holdings in shares of Darling Ingredients by 69.9% during the first quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock worth $26,000 after purchasing an additional 174 shares in the last quarter. Litman Gregory Wealth Management LLC purchased a new position in shares of Darling Ingredients during the fourth quarter worth about $29,000. Finally, Leonteq Securities AG bought a new position in shares of Darling Ingredients in the fourth quarter worth approximately $35,000. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

Darling Ingredients Price Performance

Shares of NYSE:DAR opened at $56.53 on Friday. The stock has a market cap of $8.98 billion, a PE ratio of 40.97 and a beta of 1.04. The company’s fifty day moving average is $58.73 and its 200 day moving average is $52.50. Darling Ingredients Inc. has a 52 week low of $29.15 and a 52 week high of $66.02. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.82.

Darling Ingredients (NYSE:DAR) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.27. Darling Ingredients had a net margin of 3.54% and a return on equity of 5.65%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the business posted ($0.16) earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. Research analysts anticipate that Darling Ingredients Inc. will post 4.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. TD Cowen lowered their target price on shares of Darling Ingredients from $76.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. increased their price target on shares of Darling Ingredients from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Scotiabank raised their price objective on shares of Darling Ingredients from $61.00 to $70.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Barclays raised their price objective on shares of Darling Ingredients from $58.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Zacks Research upgraded shares of Darling Ingredients from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 22nd. 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $67.82.

Insider Activity at Darling Ingredients

In other news, CAO Joseph Manzi sold 3,000 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $63.89, for a total value of $191,670.00. Following the completion of the sale, the chief accounting officer owned 19,969 shares of the company’s stock, valued at approximately $1,275,819.41. The trade was a 13.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.90% of the company’s stock.

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.