VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Darling Ingredients Inc. $DAR

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Darling Ingredients Inc. (NYSE:DAR) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 26,500 shares of the company’s stock, valued at approximately $1,447,000.

Several other hedge funds have also modified their holdings of DAR. Goldman Sachs Group Inc. raised its holdings in Darling Ingredients by 17.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 644,022 shares of the company’s stock worth $20,119,000 after purchasing an additional 93,408 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Darling Ingredients by 10.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,777 shares of the company’s stock valued at $18,768,000 after purchasing an additional 58,925 shares during the period. Focus Partners Wealth acquired a new stake in Darling Ingredients in the first quarter valued at approximately $205,000. M&T Bank Corp increased its position in shares of Darling Ingredients by 11.2% in the second quarter. M&T Bank Corp now owns 8,384 shares of the company’s stock valued at $318,000 after buying an additional 847 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Darling Ingredients by 5.0% in the second quarter. Invesco Ltd. now owns 677,528 shares of the company’s stock valued at $25,705,000 after buying an additional 32,553 shares in the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.

Darling Ingredients Stock Down 2.0%

NYSE DAR opened at $65.07 on Friday. The business’s fifty day simple moving average is $63.12 and its 200-day simple moving average is $59.92. 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 market cap of $10.27 billion, a PE ratio of 17.54 and a beta of 1.02. Darling Ingredients Inc. has a 52 week low of $29.15 and a 52 week high of $69.98.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings data on Thursday, July 30th. The company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $1.01. The firm 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 revenue was up 16.4% compared to the same quarter last year. During the same period last year, the business earned $0.08 earnings per share. As a group, equities analysts anticipate that Darling Ingredients Inc. will post 6.98 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on DAR shares. Barclays increased 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. TD Cowen boosted their price target on shares of Darling Ingredients from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Zacks Research upgraded shares of Darling Ingredients from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 19th. Weiss Ratings upgraded shares of Darling Ingredients from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen raised shares of Darling Ingredients from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Darling Ingredients currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

Insider Activity

In related news, EVP Nicholas Kemphaus sold 1,591 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $63.05, for a total value of $100,312.55. Following the completion of the transaction, the executive vice president directly owned 35,087 shares in the company, valued at approximately $2,212,235.35. This represents a 4.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Patrick McNutt sold 8,000 shares of the firm’s 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 directly owned 35,777 shares of the company’s stock, valued at approximately $2,400,278.93. This trade represents a 18.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 10,591 shares of company stock worth $704,303 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

Darling Ingredients Company Profile

Darling Ingredients Inc is a global developer and producer of sustainable ingredients derived from animal by-products, used cooking oil, food waste and other organic materials. The company collects and processes these materials into products used in animal feed, pet food, agriculture, food, fuel and industrial applications.

Its product portfolio includes protein meals, animal fats, feed-grade ingredients, fertilizer nutrients, gelatin and collagen products, and specialty ingredients. Darling also produces renewable diesel and other low-carbon fuels through its Diamond Green Diesel joint venture with Valero Energy, which converts waste fats, oils and greases into renewable fuels.

Founded in 1882, Darling Ingredients serves customers through operations spanning North America, South America, Europe, Asia and Australia.