135,304 Darling Ingredients Inc. $DAR Shares Sold by CenterBook Partners LP

Key Points

• CenterBook Partners cut its Darling Ingredients stake by 73.4% in the third quarter, selling 135,304 shares; it retained 48,915 shares valued at about $2.97 million.
• Institutional investors own 94.44% of Darling Ingredients. Recent insider sales totaled 10,591 shares worth approximately $704,000 over 90 days.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $73.80. The company slightly missed quarterly EPS expectations, reporting $1.67 versus $1.70 forecast, while revenue matched estimates at $1.79 billion.

CenterBook Partners LP trimmed its position in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 73.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,915 shares of the company's stock after selling 135,304 shares during the period. CenterBook Partners LP's holdings in Darling Ingredients were worth $2,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of DAR. Heritage Family Offices LLP bought a new position in Darling Ingredients during the third quarter valued at $57,000. Kestra Advisory Services LLC grew its stake in shares of Darling Ingredients by 4.0% in the 3rd quarter. Kestra Advisory Services LLC now owns 4,960 shares of the company's stock worth $301,000 after buying an additional 190 shares in the last quarter. Quadcap Wealth Management LLC bought a new stake in shares of Darling Ingredients in the 3rd quarter worth about $476,000. Inscription Capital LLC bought a new stake in shares of Darling Ingredients in the 3rd quarter worth about $418,000. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Darling Ingredients by 2,529.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 100,643 shares of the company's stock worth $6,110,000 after buying an additional 96,816 shares during the last quarter. 94.44% of the stock is currently owned by institutional investors.

Insider Activity at Darling Ingredients

In other Darling Ingredients news, EVP Nicholas Kemphaus sold 1,591 shares of the company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $63.05, for a total value of $100,312.55. Following the transaction, the executive vice president directly owned 35,087 shares in the company, valued at $2,212,235.35. This represents a 4.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Joseph Manzi sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $67.27, for a total transaction of $67,270.00. Following the transaction, the chief accounting officer directly owned 18,969 shares in the company, valued at approximately $1,276,044.63. This trade represents a 5.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 10,591 shares of company stock worth $704,303 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently commented on DAR. Stephens reaffirmed an "overweight" rating and issued a $80.00 price target on shares of Darling Ingredients in a report on Thursday, October 15th. Wall Street Zen cut Darling Ingredients from a "strong-buy" rating to a "buy" rating in a research note on Saturday, October 31st. Zacks Research lowered Darling Ingredients from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 18th. Jefferies Financial Group upgraded Darling Ingredients to a "strong-buy" rating in a report on Tuesday, September 29th. Finally, Barclays boosted their target price on Darling Ingredients from $62.00 to $65.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $73.80.

Darling Ingredients Stock Performance

DAR stock opened at $50.22 on Friday. Darling Ingredients Inc. has a twelve month low of $31.65 and a twelve month high of $69.98. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of 9.55 and a beta of 1.00. The business's fifty day simple moving average is $61.04 and its two-hundred day simple moving average is $58.50. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.73.

Darling Ingredients (NYSE:DAR - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $1.67 EPS for the quarter, missing analysts' consensus estimates of $1.70 by ($0.03). The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.79 billion. Darling Ingredients had a return on equity of 17.76% and a net margin of 12.48%. During the same quarter in the previous year, the company posted $0.12 earnings per share. Analysts predict that Darling Ingredients Inc. will post 6.85 earnings per share for the current year.

About Darling Ingredients

Darling Ingredients Inc collects and transforms animal by-products and other organic materials into ingredients and products used in food, animal feed, fuel and other markets. Its operations help convert materials from meat processing, food production and used cooking oils into usable fats, proteins, oils and other ingredients.

The company's businesses span feed ingredients, food ingredients and fuel ingredients. Products include animal nutrition ingredients, gelatin and collagen, and fats and oils used in food and industrial applications.

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