Darling Ingredients Inc. (DAR) Shares Bought by Louisiana State Employees Retirement System
Louisiana State Employees Retirement System raised its stake in Darling Ingredients Inc. (NYSE:DAR) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,900 shares of the company’s stock after buying an additional 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Darling Ingredients were worth $1,086,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Financial Group Inc. acquired a new position in Darling Ingredients during the first quarter valued at approximately $159,000. 1st Global Advisors Inc. increased its position in Darling Ingredients by 0.5% in the second quarter. 1st Global Advisors Inc. now owns 10,717 shares of the company’s stock valued at $160,000 after buying an additional 57 shares during the period. BlackRock Inc. increased its position in Darling Ingredients by 114.0% in the first quarter. BlackRock Inc. now owns 16,659 shares of the company’s stock valued at $220,000 after buying an additional 8,873 shares during the period. Nisa Investment Advisors L.L.C. acquired a new position in Darling Ingredients during the first quarter valued at approximately $258,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Darling Ingredients during the first quarter valued at approximately $267,000. 95.37% of the stock is owned by institutional investors.
Darling Ingredients Inc. (NYSE:DAR) traded up 1.58% during mid-day trading on Friday, hitting $13.51. 1,141,415 shares of the stock traded hands. The company’s 50 day moving average is $13.79 and its 200 day moving average is $14.27. The company has a market cap of $2.22 billion, a P/E ratio of 20.53 and a beta of 1.90. Darling Ingredients Inc. has a 12 month low of $7.78 and a 12 month high of $15.93.
Darling Ingredients (NYSE:DAR) last released its quarterly earnings data on Thursday, August 11th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. Darling Ingredients had a net margin of 3.27% and a return on equity of 5.90%. The firm earned $877.50 million during the quarter, compared to analysts’ expectations of $875.85 million. During the same period in the previous year, the company earned $0.02 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts expect that Darling Ingredients Inc. will post $0.56 earnings per share for the current fiscal year.
DAR has been the subject of several analyst reports. Canaccord Genuity set a $18.00 price objective on shares of Darling Ingredients and gave the stock a “buy” rating in a report on Thursday, September 15th. Roth Capital set a $16.50 price objective on shares of Darling Ingredients and gave the stock a “buy” rating in a report on Monday, September 19th. TheStreet raised shares of Darling Ingredients from a “hold” rating to a “buy” rating in a report on Thursday, August 11th. Goldman Sachs Group Inc. raised shares of Darling Ingredients from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $16.00 to $18.00 in a report on Wednesday, June 29th. Finally, Zacks Investment Research upgraded shares of Darling Ingredients from a “sell” rating to a “hold” rating in a research note on Tuesday, June 14th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $16.94.
In other news, EVP John Bullock sold 11,258 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $14.18, for a total transaction of $159,638.44. Following the completion of the transaction, the executive vice president now directly owns 115,711 shares of the company’s stock, valued at $1,640,781.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.75% of the company’s stock.
Darling Ingredients Company Profile
Darling Ingredients Inc, formerly Darling International Inc, is a developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients. The Company offers a range of ingredients and specialty solutions for customers in the food, pet food, pharmaceutical, feed, fuel, bioenergy and fertilizer industries.
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