33,732 Darling Ingredients Inc. $DAR Shares Purchased by Inspire Investing LLC

Key Points

• Inspire Investing increased its Darling Ingredients stake by 271.9% in the third quarter, purchasing 33,732 additional shares for a total of 46,136 shares valued at approximately $2.8 million.
• Darling Ingredients reported quarterly earnings of $2.41 per share, exceeding analyst expectations of $1.40, while revenue rose 16.4% year over year to $1.72 billion.
• Analyst sentiment remains positive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $73.80, compared with its reported share price of $56.28.

Inspire Investing LLC increased its position in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 271.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,136 shares of the company's stock after buying an additional 33,732 shares during the period. Inspire Investing LLC's holdings in Darling Ingredients were worth $2,801,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MBL Wealth LLC purchased a new position in Darling Ingredients in the third quarter valued at $385,000. Root Financial Partners LLC acquired a new position in shares of Darling Ingredients in the third quarter worth about $124,000. McCarley & Cook Financial Planners acquired a new position in shares of Darling Ingredients in the third quarter worth about $30,000. Axxcess Wealth Management LLC purchased a new stake in shares of Darling Ingredients during the 3rd quarter worth about $204,000. Finally, IFP Advisors Inc boosted its stake in shares of Darling Ingredients by 162.4% during the 3rd quarter. IFP Advisors Inc now owns 2,858 shares of the company's stock worth $174,000 after acquiring an additional 1,769 shares in the last quarter. Institutional investors and hedge funds own 94.44% of the company's stock.

Darling Ingredients Price Performance

Darling Ingredients stock opened at $56.28 on Friday. The company has a fifty day simple moving average of $63.25 and a 200-day simple moving average of $61.06. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of 15.17 and a beta of 1.04. 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 Inc. has a 52-week low of $31.48 and a 52-week high of $69.98.

Darling Ingredients (NYSE:DAR - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. Darling Ingredients had a net margin of 9.13% and a return on equity of 12.98%. The company's revenue for the quarter was up 16.4% on a year-over-year basis. During the same period last year, the firm posted $0.08 earnings per share. On average, equities analysts anticipate that Darling Ingredients Inc. will post 7.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DAR shares. Jefferies Financial Group upgraded Darling Ingredients to a "strong-buy" rating in a research report on Tuesday, September 29th. Zacks Research cut Darling Ingredients from a "strong-buy" rating to a "hold" rating in a report on Friday, September 18th. Weiss Ratings raised Darling Ingredients from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, October 12th. JPMorgan Chase & Co. increased their price target on Darling Ingredients from $82.00 to $83.00 and gave the stock an "overweight" rating in a research report on Monday, October 12th. Finally, TD Cowen raised their price objective on Darling Ingredients from $70.00 to $80.00 and gave the company a "buy" rating in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $73.80.

Insider Buying and Selling at Darling Ingredients

In other Darling Ingredients news, Director Charles L. Adair acquired 1,000 shares of the business's stock in a transaction on Friday, July 31st. The stock was bought at an average price of $60.97 per share, for a total transaction of $60,970.00. Following the acquisition, the director owned 51,690 shares in the company, valued at approximately $3,151,539.30. The trade was a 1.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Patrick McNutt sold 8,000 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $67.09, for a total transaction of $536,720.00. Following the completion of the transaction, the executive vice president directly owned 35,777 shares in the company, valued at $2,400,278.93. This trade represents a 18.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 10,591 shares of company stock valued at $704,303. Insiders own 1.90% of the company's stock.

Darling Ingredients Profile

Darling Ingredients Inc NYSE: DAR is a global developer and producer of sustainable ingredients and renewable energy solutions. The company collects and transforms animal by-products, used cooking oil, food waste and other organic materials into value-added products, helping divert waste from landfills and recover materials for reuse.

Its products include fats, proteins, meals, collagen, gelatin and specialty ingredients used in animal feed, pet food, food, pharmaceuticals and industrial applications.

Want to see what other hedge funds are holding DAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Darling Ingredients Inc. (NYSE:DAR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.