Globeflex Capital L P Takes Position in Darling Ingredients Inc. $DAR

Globeflex Capital L P bought a new stake in Darling Ingredients Inc. (NYSE:DAR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,728 shares of the company’s stock, valued at approximately $695,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its stake in shares of Darling Ingredients by 17.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 644,022 shares of the company’s stock valued at $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 raised its holdings in shares of Darling Ingredients by 10.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,777 shares of the company’s stock worth $18,768,000 after buying an additional 58,925 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Darling Ingredients during the 1st quarter worth approximately $205,000. M&T Bank Corp boosted its stake in Darling Ingredients by 11.2% in the 2nd 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. boosted its stake in Darling Ingredients by 5.0% in the 2nd 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. Institutional investors and hedge funds own 94.44% of the company’s stock.

Darling Ingredients Price Performance

Shares of DAR stock opened at $62.52 on Wednesday. Darling Ingredients Inc. has a 1 year low of $29.15 and a 1 year high of $69.98. The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.73. The firm’s 50 day moving average is $60.13 and its 200-day moving average is $58.57. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 16.85 and a beta of 1.02.

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

Insider Transactions at Darling Ingredients

In other news, CAO Joseph Manzi sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $67.27, for a total transaction of $67,270.00. Following the completion of the sale, the chief accounting officer owned 18,969 shares in the company, valued at $1,276,044.63. The trade was a 5.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nicholas James Kemphaus sold 1,591 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $63.05, for a total value of $100,312.55. Following the transaction, the executive vice president directly owned 35,087 shares in the company, valued at $2,212,235.35. This trade represents a 4.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 10,591 shares of company stock valued at $704,303 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

DAR has been the subject of several recent analyst reports. TD Cowen increased their price objective on Darling Ingredients from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Weiss Ratings upgraded shares of Darling Ingredients from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. upped their target price 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. Wall Street Zen upgraded shares of Darling Ingredients from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. Finally, Jefferies Financial Group lifted their price target on shares of Darling Ingredients from $73.00 to $75.00 and gave the company a “buy” rating in a report on Monday, May 4th. One research 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $69.00.

About Darling Ingredients

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.