Arizona State Retirement System Reduces Position in Darling Ingredients Inc. (NYSE:DAR)

Arizona State Retirement System lessened its stake in shares of Darling Ingredients Inc. (NYSE:DAR) by 1.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,622 shares of the company’s stock after selling 530 shares during the period. Arizona State Retirement System’s holdings in Darling Ingredients were worth $1,425,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of DAR. Xponance Inc. raised its position in Darling Ingredients by 2.0% during the first quarter. Xponance Inc. now owns 20,183 shares of the company’s stock worth $631,000 after acquiring an additional 393 shares during the period. State of Michigan Retirement System raised its position in Darling Ingredients by 1.1% during the first quarter. State of Michigan Retirement System now owns 38,074 shares of the company’s stock worth $1,189,000 after acquiring an additional 400 shares during the period. Treasurer of the State of North Carolina raised its position in Darling Ingredients by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 69,709 shares of the company’s stock worth $2,348,000 after acquiring an additional 440 shares during the period. Spire Wealth Management raised its position in Darling Ingredients by 19.8% during the first quarter. Spire Wealth Management now owns 2,831 shares of the company’s stock worth $88,000 after acquiring an additional 468 shares during the period. Finally, State of Alaska Department of Revenue raised its position in Darling Ingredients by 2.6% during the first quarter. State of Alaska Department of Revenue now owns 18,610 shares of the company’s stock worth $581,000 after acquiring an additional 470 shares during the period. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Citigroup dropped their price objective on shares of Darling Ingredients from $45.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Robert W. Baird lowered their target price on shares of Darling Ingredients from $41.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Wall Street Zen raised shares of Darling Ingredients from a “sell” rating to a “hold” rating in a research note on Friday, April 25th. Jefferies Financial Group increased their target price on shares of Darling Ingredients from $45.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. Finally, TD Cowen lowered their target price on shares of Darling Ingredients from $37.00 to $34.00 and set a “hold” rating for the company in a research note on Friday, April 25th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.14.

Darling Ingredients Price Performance

Shares of DAR opened at $35.85 on Friday. The stock’s fifty day moving average is $35.28 and its 200-day moving average is $34.26. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of 33.50 and a beta of 1.23. Darling Ingredients Inc. has a one year low of $26.00 and a one year high of $43.49. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.40.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings data on Thursday, April 24th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.36). The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.45 billion. Darling Ingredients had a return on equity of 3.78% and a net margin of 3.02%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.50 earnings per share. Equities analysts anticipate that Darling Ingredients Inc. will post 2.81 EPS for the current year.

Darling Ingredients Company Profile

Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.