Advisors Preferred LLC Takes $3.86 Million Position in Darling Ingredients Inc. $DAR

Key Points

• Advisors Preferred LLC initiated a new position in Darling Ingredients, buying 62,466 shares worth about $3.86 million in the first quarter.
• Darling Ingredients reported Q2 EPS of $0.83, beating analyst expectations of $0.56, while revenue rose 12.3% year over year to $1.55 billion.
• Wall Street sentiment remains constructive, with a Moderate Buy consensus and an average price target of $67.82; meanwhile, insider Joseph Manzi sold 3,000 shares in May.

Advisors Preferred LLC bought a new position in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 62,466 shares of the company's stock, valued at approximately $3,864,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its position in shares of Darling Ingredients by 17.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 644,022 shares of the company's stock valued at $20,119,000 after buying an additional 93,408 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Darling Ingredients by 10.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,777 shares of the company's stock worth $18,768,000 after purchasing an additional 58,925 shares during the last quarter. Focus Partners Wealth purchased a new position in shares of Darling Ingredients during the first quarter worth about $205,000. M&T Bank Corp increased its position in shares of Darling Ingredients by 11.2% during the second quarter. M&T Bank Corp now owns 8,384 shares of the company's stock worth $318,000 after purchasing an additional 847 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Darling Ingredients by 5.0% during the second quarter. Invesco Ltd. now owns 677,528 shares of the company's stock worth $25,705,000 after purchasing an additional 32,553 shares in the last quarter. Hedge funds and other institutional investors own 94.44% of the company's stock.

Darling Ingredients Price Performance

Shares of DAR opened at $61.76 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82. The stock's 50 day moving average is $58.47 and its two-hundred day moving average is $53.86. Darling Ingredients Inc. has a twelve month low of $29.15 and a twelve month high of $66.02. The firm has a market capitalization of $9.82 billion, a PE ratio of 44.76 and a beta of 1.04.

Darling Ingredients (NYSE:DAR - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.27. Darling Ingredients had a return on equity of 5.65% and a net margin of 3.54%.The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the business posted ($0.16) EPS. The company's revenue for the quarter was up 12.3% on a year-over-year basis. Research analysts anticipate that Darling Ingredients Inc. will post 4.67 earnings per share for the current year.

Analyst Ratings Changes

DAR has been the topic of a number of research reports. Scotiabank raised their price target on Darling Ingredients from $61.00 to $70.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 22nd. Barclays boosted their price objective on Darling Ingredients from $58.00 to $62.00 and gave the company an "equal weight" rating in a research note on Thursday, July 2nd. TD Cowen lowered their target price on shares of Darling Ingredients from $76.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, June 23rd. Wall Street Zen raised shares of Darling Ingredients from a "hold" rating to a "buy" rating in a report on Sunday, July 5th. Finally, JPMorgan Chase & Co. upped their price target on shares of Darling Ingredients from $78.00 to $79.00 and gave the company an "overweight" rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $67.82.

Insiders Place Their Bets

In other Darling Ingredients news, CAO Joseph Manzi sold 3,000 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $63.89, for a total value of $191,670.00. Following the completion of the transaction, the chief accounting officer owned 19,969 shares in the company, valued at approximately $1,275,819.41. This represents a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.90% of the stock is owned by corporate insiders.

About Darling Ingredients

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.

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