Engineers Gate Manager LP Has $27.27 Million Position in Darling Ingredients Inc. $DAR

Engineers Gate Manager LP lessened its stake in shares of Darling Ingredients Inc. (NYSE:DAR) by 38.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 499,265 shares of the company’s stock after selling 317,722 shares during the quarter. Engineers Gate Manager LP owned about 0.32% of Darling Ingredients worth $27,270,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of DAR. Danske Bank A S acquired a new stake in Darling Ingredients during the third quarter worth approximately $25,000. Allworth Financial LP increased its stake in shares of Darling Ingredients by 227.2% during the fourth quarter. Allworth Financial LP now owns 733 shares of the company’s stock worth $26,000 after purchasing an additional 509 shares during the period. SJS Investment Consulting Inc. lifted its holdings in Darling Ingredients by 69.9% during the 1st quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock worth $26,000 after purchasing an additional 174 shares during the last quarter. Litman Gregory Wealth Management LLC acquired a new stake in Darling Ingredients during the 4th quarter worth approximately $29,000. Finally, Leonteq Securities AG bought a new stake in Darling Ingredients in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 94.44% of the company’s stock.

Insiders Place Their Bets

In related news, Director Charles L. Adair purchased 1,000 shares of the stock in a transaction dated Friday, July 31st. The stock was bought at an average cost of $60.97 per share, for a total transaction of $60,970.00. Following the completion of the acquisition, the director owned 51,690 shares of the company’s stock, valued at approximately $3,151,539.30. This represents a 1.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick McNutt sold 8,000 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $67.09, for a total value of $536,720.00. Following the sale, the executive vice president directly owned 35,777 shares in the company, valued at approximately $2,400,278.93. This trade represents a 18.27% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 10,591 shares of company stock worth $704,303. 1.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wall Street Zen upgraded Darling Ingredients from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. TD Cowen raised their price target on shares of Darling Ingredients from $70.00 to $80.00 and gave the stock a “buy” rating in a research report 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. Barclays boosted their price objective on shares of Darling Ingredients from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Finally, Zacks Research upgraded shares of Darling Ingredients from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.00.

Darling Ingredients Stock Up 0.4%

Shares of NYSE DAR opened at $67.40 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.03 and a current ratio of 1.56. Darling Ingredients Inc. has a 52 week low of $29.15 and a 52 week high of $69.98. The stock has a market capitalization of $10.64 billion, a P/E ratio of 18.17 and a beta of 1.02. The stock’s fifty day moving average is $62.75 and its 200 day moving average is $59.78.

Darling Ingredients (NYSE:DAR) last posted its quarterly earnings data on Thursday, July 30th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $1.40 by $1.01. The business 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%. Darling Ingredients’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.08 earnings per share. Sell-side analysts forecast that Darling Ingredients Inc. will post 6.98 earnings per share for the current fiscal 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.