California Public Employees Retirement System Has $4 Million Position in Darling Ingredients Inc (DAR)
California Public Employees Retirement System cut its position in shares of Darling Ingredients Inc (NYSE:DAR) by 8.3% in the 4th quarter, Holdings Channel reports. The fund owned 207,817 shares of the company’s stock after selling 18,907 shares during the period. California Public Employees Retirement System’s holdings in Darling Ingredients were worth $3,998,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in DAR. Point72 Asset Management L.P. increased its stake in Darling Ingredients by 83.0% during the third quarter. Point72 Asset Management L.P. now owns 2,680,143 shares of the company’s stock worth $51,780,000 after acquiring an additional 1,215,246 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in Darling Ingredients during the fourth quarter worth about $63,000. Walthausen & Co. LLC acquired a new stake in Darling Ingredients during the third quarter worth about $18,553,000. BlackRock Inc. increased its stake in Darling Ingredients by 3.5% during the third quarter. BlackRock Inc. now owns 23,746,088 shares of the company’s stock worth $458,776,000 after acquiring an additional 802,763 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in Darling Ingredients by 112.5% during the third quarter. Jane Street Group LLC now owns 22,393 shares of the company’s stock worth $433,000 after acquiring an additional 201,293 shares during the last quarter. Institutional investors own 99.09% of the company’s stock.
In other news, CEO Randall C. Stuewe sold 68,940 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $21.02, for a total value of $1,449,118.80. Following the completion of the sale, the chief executive officer now owns 780,680 shares of the company’s stock, valued at $16,409,893.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Randall C. Stuewe sold 21,060 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $22.00, for a total value of $463,320.00. Following the completion of the sale, the chairman now directly owns 798,989 shares of the company’s stock, valued at approximately $17,577,758. The disclosure for this sale can be found here. 2.44% of the stock is owned by corporate insiders.
Darling Ingredients (NYSE:DAR) last announced its quarterly earnings results on Wednesday, February 27th. The company reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.03). The firm had revenue of $853.13 million for the quarter, compared to analyst estimates of $889.24 million. Darling Ingredients had a return on equity of 6.35% and a net margin of 3.00%. The business’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. Research analysts predict that Darling Ingredients Inc will post 0.97 EPS for the current fiscal year.
Several equities research analysts have commented on DAR shares. Zacks Investment Research lowered Darling Ingredients from a “hold” rating to a “sell” rating in a research note on Monday, January 21st. JPMorgan Chase & Co. upgraded Darling Ingredients from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $21.00 to $25.00 in a research note on Monday, November 19th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Darling Ingredients presently has a consensus rating of “Buy” and a consensus target price of $23.00.
Darling Ingredients Profile
Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers a range of ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.
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