California State Teachers Retirement System Grows Stock Holdings in Darling Ingredients Inc. $DAR

Key Points

• Institutional ownership increased: California State Teachers Retirement System raised its Darling Ingredients stake by 0.5% to 184,081 shares, while institutional investors and hedge funds collectively own 94.44% of the company.
• Strong quarterly results supported the stock: Darling reported $2.41 in quarterly EPS, beating estimates of $1.40, while revenue rose 16.4% year over year to $1.72 billion. Shares traded near $67.17, close to the 12-month high of $69.98.
• Analyst sentiment is favorable: Several firms raised price targets or upgraded their ratings, with Darling carrying a “Moderate Buy” consensus and an average target price of $69.00.

California State Teachers Retirement System raised its stake in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 0.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 184,081 shares of the company's stock after acquiring an additional 986 shares during the period. California State Teachers Retirement System owned approximately 0.12% of Darling Ingredients worth $10,054,504 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HB Wealth Management LLC increased its stake in Darling Ingredients by 3.3% during the 2nd quarter. HB Wealth Management LLC now owns 8,487 shares of the company's stock worth $464,000 after buying an additional 269 shares during the period. Nykredit A S bought a new position in shares of Darling Ingredients in the second quarter worth about $254,000. Headlands Technologies LLC bought a new position in Darling Ingredients during the second quarter worth about $247,000. Quantitative Investment Management LLC acquired a new position in Darling Ingredients during the second quarter worth $1,119,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Darling Ingredients by 1.2% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 419,696 shares of the company's stock worth $22,924,000 after purchasing an additional 4,820 shares in the last quarter. 94.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Darling Ingredients

In other Darling Ingredients news, CAO Joseph Manzi sold 1,000 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $67.27, for a total value of $67,270.00. Following the completion of the transaction, the chief accounting officer directly owned 18,969 shares of the company's stock, valued at approximately $1,276,044.63. This trade represents a 5.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles L. Adair purchased 1,000 shares of the company's stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average price of $60.97 per share, with a total value of $60,970.00. Following the purchase, the director owned 51,690 shares of the company's stock, valued at approximately $3,151,539.30. The trade was a 1.97% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have sold 10,591 shares of company stock worth $704,303. 1.90% of the stock is owned by company insiders.

Darling Ingredients Stock Performance

NYSE:DAR traded up $2.25 during mid-day trading on Tuesday, hitting $67.17. The stock had a trading volume of 1,248,797 shares, compared to its average volume of 2,626,482. The stock has a market cap of $10.60 billion, a price-to-earnings ratio of 18.08 and a beta of 1.02. The company's 50 day simple moving average is $63.26 and its 200 day simple moving average is $60.07. Darling Ingredients Inc. has a twelve month low of $29.15 and a twelve month high of $69.98. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.03 and a current ratio of 1.56.

Darling Ingredients (NYSE:DAR - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $2.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $1.01. The company had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.71 billion. Darling Ingredients had a net margin of 9.13% and a return on equity of 12.98%. The business's revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 EPS. On average, equities research analysts forecast that Darling Ingredients Inc. will post 6.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DAR has been the subject of several analyst reports. TD Cowen raised their price objective on shares of Darling Ingredients from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Weiss Ratings upgraded Darling Ingredients from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 11th. Wall Street Zen raised shares of Darling Ingredients from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 15th. Barclays raised their price objective on shares of Darling Ingredients from $62.00 to $65.00 and gave the company an "equal weight" rating in a report on Monday, August 3rd. Finally, Zacks Research upgraded Darling Ingredients from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Darling Ingredients has an average rating of "Moderate Buy" and an average target price of $69.00.

About Darling Ingredients

Darling Ingredients Inc is a global developer and producer of sustainable ingredients derived from animal by-products, used cooking oil, food waste and other organic materials. The company collects and processes these materials into products used in animal feed, pet food, agriculture, food, fuel and industrial applications.

Its product portfolio includes protein meals, animal fats, feed-grade ingredients, fertilizer nutrients, gelatin and collagen products, and specialty ingredients. Darling also produces renewable diesel and other low-carbon fuels through its Diamond Green Diesel joint venture with Valero Energy, which converts waste fats, oils and greases into renewable fuels.

Founded in 1882, Darling Ingredients serves customers through operations spanning North America, South America, Europe, Asia and Australia.

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.