Persistent Asset Partners Ltd Invests $633,000 in Darling Ingredients Inc. $DAR

Persistent Asset Partners Ltd bought a new stake in Darling Ingredients Inc. (NYSE:DAR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,901 shares of the company’s stock, valued at approximately $633,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of DAR. Firetrail Investments PTY Ltd. acquired a new stake in Darling Ingredients during the 2nd quarter worth $8,930,000. Simplicity Wealth LLC acquired a new position in Darling Ingredients in the second quarter valued at $678,000. Global Retirement Partners LLC acquired a new position in Darling Ingredients in the second quarter valued at $151,000. Bank of New York Mellon Corp purchased a new stake in shares of Darling Ingredients in the second quarter valued at about $63,494,000. Finally, Private Advisory Group LLC purchased a new stake in shares of Darling Ingredients in the second quarter valued at about $1,482,000. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Scotiabank raised their price target on Darling Ingredients from $61.00 to $70.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Jefferies Financial Group upped their price objective on Darling Ingredients from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Zacks Research cut Darling Ingredients from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Stephens lifted their target price on Darling Ingredients from $65.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. Finally, Barclays boosted 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. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Darling Ingredients has an average rating of “Moderate Buy” and a consensus target price of $69.00.

Insiders Place Their Bets

In other news, EVP Nicholas James 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 transaction of $100,312.55. Following the completion of the transaction, the executive vice president directly owned 35,087 shares of the company’s stock, valued at approximately $2,212,235.35. This represents a 4.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Charles L. Adair purchased 1,000 shares of Darling Ingredients stock in a transaction dated Friday, July 31st. The stock was acquired at an average cost of $60.97 per share, with a total value of $60,970.00. Following the completion of the acquisition, the director directly owned 51,690 shares in the company, valued at approximately $3,151,539.30. This trade represents a 1.97% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.90% of the stock is currently owned by insiders.

Darling Ingredients Stock Down 0.3%

Shares of NYSE:DAR opened at $66.86 on Monday. Darling Ingredients Inc. has a fifty-two week low of $29.15 and a fifty-two week high of $67.68. 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’s 50-day simple moving average is $58.93 and its 200-day simple moving average is $57.60. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 18.02 and a beta of 1.02.

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, 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%. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 earnings per share. As a group, equities research analysts predict that Darling Ingredients Inc. will post 6.98 earnings per share for the current year.

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.