Park Avenue Securities LLC Invests $251,000 in Darling Ingredients Inc. $DAR

Park Avenue Securities LLC acquired a new position in shares of Darling Ingredients Inc. (NYSE:DAR) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,604 shares of the company’s stock, valued at approximately $251,000.

Several other institutional investors also recently bought and sold shares of DAR. Peregrine Capital Management LLC lifted its holdings in shares of Darling Ingredients by 16.5% during the 1st quarter. Peregrine Capital Management LLC now owns 218,806 shares of the company’s stock valued at $6,835,000 after purchasing an additional 30,952 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Darling Ingredients by 19.3% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 30,490 shares of the company’s stock valued at $953,000 after buying an additional 4,933 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in Darling Ingredients by 14.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 154,315 shares of the company’s stock valued at $4,821,000 after buying an additional 19,113 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Darling Ingredients by 6,187.6% in the first quarter. GAMMA Investing LLC now owns 64,448 shares of the company’s stock worth $2,063,000 after acquiring an additional 63,423 shares in the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new position in shares of Darling Ingredients during the first quarter valued at about $255,000. 94.44% of the stock is currently owned by institutional investors and hedge funds.

Darling Ingredients Stock Performance

Shares of NYSE DAR opened at $31.33 on Thursday. The company has a market capitalization of $4.96 billion, a PE ratio of 47.46 and a beta of 1.22. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 1.50. The company’s fifty day moving average price is $32.19 and its 200 day moving average price is $32.94. Darling Ingredients Inc. has a 1 year low of $26.00 and a 1 year high of $43.49.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). Darling Ingredients had a net margin of 1.85% and a return on equity of 2.35%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the previous year, the firm posted $0.49 EPS. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. On average, research analysts predict that Darling Ingredients Inc. will post 2.81 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Tudor Pickering upgraded shares of Darling Ingredients from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 11th. Robert W. Baird reaffirmed a “neutral” rating and issued a $36.00 price target (down previously from $40.00) on shares of Darling Ingredients in a report on Friday, July 25th. Piper Sandler dropped their price objective on shares of Darling Ingredients from $54.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, July 28th. JPMorgan Chase & Co. initiated coverage on Darling Ingredients in a research note on Wednesday, August 20th. They issued an “overweight” rating and a $43.00 target price for the company. Finally, Baird R W cut Darling Ingredients from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.57.

Insiders Place Their Bets

In other Darling Ingredients news, CEO Randall C. Stuewe sold 35,000 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $30.92, for a total transaction of $1,082,200.00. Following the transaction, the chief executive officer owned 781,437 shares in the company, valued at approximately $24,162,032.04. This represents a 4.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.62% of the company’s stock.

About Darling Ingredients

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.