Darling Ingredients Inc. $DAR Shares Purchased by State of Wyoming

State of Wyoming grew its stake in shares of Darling Ingredients Inc. (NYSE:DAR) by 279.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,316 shares of the company’s stock after buying an additional 9,066 shares during the period. State of Wyoming’s holdings in Darling Ingredients were worth $748,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in Darling Ingredients during the 2nd quarter worth approximately $851,450,000. Dimensional Fund Advisors LP raised its holdings in Darling Ingredients by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 8,066,971 shares of the company’s stock valued at $498,927,000 after buying an additional 47,565 shares during the period. Deutsche Bank AG acquired a new position in Darling Ingredients during the second quarter valued at approximately $168,348,000. Bank of America Corp DE acquired a new position in Darling Ingredients during the second quarter valued at approximately $129,371,000. Finally, Assenagon Asset Management S.A. lifted its position in Darling Ingredients by 5.8% during the second quarter. Assenagon Asset Management S.A. now owns 2,212,634 shares of the company’s stock valued at $120,854,000 after buying an additional 120,674 shares in the last quarter. 94.44% of the stock is currently owned by institutional investors and hedge funds.

Darling Ingredients Trading Up 1.0%

NYSE DAR opened at $55.69 on Friday. Darling Ingredients Inc. has a one year low of $31.48 and a one year high of $69.98. The company has a 50-day simple moving average of $62.11 and a 200-day simple moving average of $58.20. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.03 and a current ratio of 1.56. The firm has a market capitalization of $8.79 billion, a PE ratio of 10.59 and a beta of 1.04.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.03). The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.79 billion. Darling Ingredients had a return on equity of 17.76% and a net margin of 12.48%. During the same quarter in the previous year, the company posted $0.12 earnings per share. On average, equities analysts forecast that Darling Ingredients Inc. will post 6.88 earnings per share for the current year.

Insiders Place Their Bets

In other Darling Ingredients news, EVP Patrick McNutt sold 8,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 35,777 shares in the company, valued at $2,400,278.93. This represents a 18.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nicholas 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 completion of the sale, the executive vice president owned 35,087 shares of the company’s stock, valued at approximately $2,212,235.35. This trade represents a 4.34% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 10,591 shares of company stock worth $704,303. 1.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of Darling Ingredients from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 12th. TD Cowen lifted their target price on shares of Darling Ingredients from $70.00 to $80.00 and gave the company a “buy” rating in a report on Monday, July 27th. JPMorgan Chase & Co. upped their price target on shares of Darling Ingredients from $82.00 to $83.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. UBS Group increased their price target on Darling Ingredients from $78.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, September 22nd. Finally, Jefferies Financial Group upgraded Darling Ingredients to a “strong-buy” rating in a report on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $73.80.

Darling Ingredients Company Profile

Darling Ingredients Inc (NYSE: DAR) is a global developer and producer of sustainable ingredients and renewable energy solutions. The company collects and transforms animal by-products, used cooking oil, food waste and other organic materials into value-added products, helping divert waste from landfills and recover materials for reuse.

Its products include fats, proteins, meals, collagen, gelatin and specialty ingredients used in animal feed, pet food, food, pharmaceuticals and industrial applications.