Canada Pension Plan Investment Board Invests $17.01 Million in Darling Ingredients Inc. $DAR

Key Points

• Canada Pension Plan Investment Board acquired 311,400 shares of Darling Ingredients worth approximately $17.01 million, giving it a roughly 0.20% stake. Institutional investors collectively own 94.44% of the company.
• Darling Ingredients reported strong quarterly results, with EPS of $2.41 versus the $1.40 consensus and revenue of $1.72 billion, up 16.4% year over year.
• Analyst sentiment remains positive, with the stock holding a “Moderate Buy” consensus rating and a $69 average price target; shares recently traded at $64.35 after rising 4.8%.

Canada Pension Plan Investment Board acquired a new stake in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 311,400 shares of the company's stock, valued at approximately $17,009,000. Canada Pension Plan Investment Board owned about 0.20% of Darling Ingredients at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in Darling Ingredients during the second quarter valued at approximately $851,450,000. Deutsche Bank AG bought a new stake in shares of Darling Ingredients in the 2nd quarter worth approximately $168,348,000. Norges Bank bought a new stake in shares of Darling Ingredients in the 4th quarter worth approximately $94,211,000. No Street GP LP purchased a new stake in shares of Darling Ingredients in the 3rd quarter valued at $69,458,000. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Darling Ingredients during the 2nd quarter valued at $118,952,000. 94.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Joseph Manzi sold 1,000 shares of Darling Ingredients stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $67.27, for a total value of $67,270.00. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick Mcnutt sold 8,000 shares of the business's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $67.09, for a total value of $536,720.00. Following 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 disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 10,591 shares of company stock worth $704,303. Corporate insiders own 1.90% of the company's stock.

Darling Ingredients Trading Up 4.8%

Shares of DAR opened at $64.35 on Friday. The stock has a market capitalization of $10.15 billion, a P/E ratio of 17.35 and a beta of 1.02. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.73. The firm has a fifty day simple moving average of $60.68 and a two-hundred day simple moving average of $58.81. Darling Ingredients Inc. has a twelve month low of $29.15 and a twelve month high of $69.98.

Darling Ingredients (NYSE:DAR - Get Free Report) last announced its quarterly earnings results 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. Darling Ingredients had a net margin of 9.13% and a return on equity of 12.98%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the firm earned $0.08 EPS. The company's revenue was up 16.4% on a year-over-year basis. On average, research analysts anticipate that Darling Ingredients Inc. will post 6.98 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Weiss Ratings raised shares of Darling Ingredients from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. lifted their price objective on Darling Ingredients from $78.00 to $79.00 and gave the stock an "overweight" rating in a report on Tuesday, May 12th. Zacks Research raised Darling Ingredients from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 19th. TD Cowen increased their target price on Darling Ingredients from $70.00 to $80.00 and gave the company a "buy" rating in a report on Monday, July 27th. Finally, Jefferies Financial Group raised their price target on Darling Ingredients from $73.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. One 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $69.00.

Darling Ingredients Company Profile

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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