Darling Ingredients Inc. $DAR Shares Purchased by Gates Capital Management Inc.

Key Points

• Gates Capital Management Inc. has increased its stake in Darling Ingredients Inc. by 18.7%, now owning 7,915,560 shares, making it the firm's largest position at 4.9% of its portfolio.
• For the most recent quarter, Darling Ingredients reported a net revenue of $1.48 billion, slightly missing expectations, with an adjusted EPS of $0.09, below the expected $0.12.
• The company has received various analyst ratings, with an average consensus rating of "Moderate Buy" and a target price of $43.57.

Gates Capital Management Inc. boosted its stake in Darling Ingredients Inc. (NYSE:DAR - Free Report) by 18.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,915,560 shares of the company's stock after acquiring an additional 1,247,117 shares during the period. Darling Ingredients accounts for about 4.9% of Gates Capital Management Inc.'s holdings, making the stock its biggest position. Gates Capital Management Inc. owned approximately 5.00% of Darling Ingredients worth $247,282,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC increased its position in Darling Ingredients by 148.9% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,393,153 shares of the company's stock worth $148,005,000 after purchasing an additional 2,627,785 shares during the period. Dimensional Fund Advisors LP increased its position in Darling Ingredients by 15.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,480,803 shares of the company's stock worth $233,701,000 after purchasing an additional 1,026,958 shares during the period. American Century Companies Inc. increased its position in Darling Ingredients by 155.5% during the 1st quarter. American Century Companies Inc. now owns 1,479,369 shares of the company's stock worth $46,215,000 after purchasing an additional 900,461 shares during the period. Atlantic Investment Management Inc. acquired a new position in Darling Ingredients during the 4th quarter worth approximately $19,845,000. Finally, Raiffeisen Bank International AG acquired a new position in Darling Ingredients during the 4th quarter worth approximately $16,939,000. Institutional investors and hedge funds own 94.44% of the company's stock.

Insider Buying and Selling at Darling Ingredients

In other Darling Ingredients news, CEO Randall C. Stuewe sold 35,000 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $30.92, for a total transaction of $1,082,200.00. Following the transaction, the chief executive officer owned 781,437 shares of the company's stock, valued at $24,162,032.04. This represents a 4.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.07% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on DAR. Piper Sandler decreased their price target on Darling Ingredients from $54.00 to $50.00 and set an "overweight" rating on the stock in a research note on Monday, July 28th. Tudor Pickering raised Darling Ingredients from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 11th. JPMorgan Chase & Co. began coverage on Darling Ingredients in a research note on Wednesday, August 20th. They set an "overweight" rating and a $43.00 price target on the stock. Baird R W lowered Darling Ingredients from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Finally, Robert W. Baird reissued a "neutral" rating and set a $36.00 price target (down previously from $40.00) on shares of Darling Ingredients in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $43.57.

Darling Ingredients Price Performance

DAR stock traded down $1.04 on Wednesday, reaching $31.91. The company had a trading volume of 2,277,471 shares, compared to its average volume of 2,124,451. Darling Ingredients Inc. has a 1 year low of $26.00 and a 1 year high of $43.49. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 1.50. The company's fifty day moving average is $34.46 and its 200 day moving average is $33.41. The company has a market cap of $5.05 billion, a P/E ratio of 48.34 and a beta of 1.16.

Darling Ingredients (NYSE:DAR - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.03). Darling Ingredients had a return on equity of 2.35% and a net margin of 1.85%.The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same period in the prior year, the company earned $0.49 EPS. The company's revenue for the quarter was up 1.8% compared to the same quarter last year. On average, research analysts forecast that Darling Ingredients Inc. will post 2.81 earnings per share for the current year.

Darling Ingredients Company Profile

Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.