Man Group plc Invests $78.88 Million in Darling Ingredients Inc. $DAR

Man Group plc bought a new stake in Darling Ingredients Inc. (NYSE:DAR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,444,081 shares of the company’s stock, valued at approximately $78,876,000. Man Group plc owned approximately 0.92% of Darling Ingredients as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. SJS Investment Consulting Inc. boosted its position in Darling Ingredients by 69.9% in 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 during the last quarter. Turtle Creek Wealth Advisors LLC increased its position 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 valued at $472,000 after purchasing an additional 196 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its stake 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 worth $481,000 after purchasing an additional 220 shares during the period. Coldstream Capital Management Inc. boosted its holdings in shares of Darling Ingredients by 3.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 7,701 shares of the company’s stock worth $277,000 after buying an additional 267 shares during the last quarter. Finally, Basecamp Wealth Advisors LLC boosted its holdings in shares of Darling Ingredients by 35.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 1,042 shares of the company’s stock worth $64,000 after buying an additional 270 shares during the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.

Darling Ingredients Price Performance

DAR opened at $62.52 on Wednesday. The company has a market capitalization of $9.87 billion, a price-to-earnings ratio of 16.85 and a beta of 1.02. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.73. The firm has a 50-day moving average price of $60.13 and a 200-day moving average price of $58.57. Darling Ingredients Inc. has a twelve month low of $29.15 and a twelve month high of $69.98.

Darling Ingredients (NYSE:DAR) last posted its quarterly earnings results on Thursday, July 30th. The company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $1.01. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. Darling Ingredients had a net margin of 9.13% and a return on equity of 12.98%. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.08 earnings per share. Equities analysts expect that Darling Ingredients Inc. will post 6.98 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on DAR shares. Barclays raised their price objective on shares of Darling Ingredients from $62.00 to $65.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Weiss Ratings raised shares of Darling Ingredients from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. Zacks Research raised shares of Darling Ingredients from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 19th. TD Cowen upped their price objective on Darling Ingredients from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. boosted their target price on Darling Ingredients from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.00.

Insider Buying and Selling at Darling Ingredients

In other Darling Ingredients news, EVP Nicholas James Kemphaus sold 1,591 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $63.05, for a total transaction of $100,312.55. Following the sale, the executive vice president owned 35,087 shares of the company’s stock, valued at $2,212,235.35. The trade was a 4.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $536,720.00. Following the sale, the executive vice president owned 35,777 shares in the company, valued at approximately $2,400,278.93. This represents a 18.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 10,591 shares of company stock worth $704,303. 1.90% of the stock is owned by insiders.

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.