Atlantic Investment Management Inc. Lowers Stake in Darling Ingredients Inc. $DAR

Key Points

• Atlantic Investment Management Inc. has reduced its position in Darling Ingredients Inc. by 13.7%, selling 80,500 shares and holding 508,550 shares at the end of the first quarter.
• Darling Ingredients' latest earnings report revealed a missed EPS estimate of $0.09 compared to the consensus estimate of $0.12, along with quarterly revenue of $1.48 billion.
• Despite the earnings miss, analysts have a consensus rating of "Moderate Buy" for Darling Ingredients, with a target price averaging $43.57.

Atlantic Investment Management Inc. cut its stake in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 13.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 508,550 shares of the company's stock after selling 80,500 shares during the period. Darling Ingredients accounts for about 8.9% of Atlantic Investment Management Inc.'s investment portfolio, making the stock its 6th biggest holding. Atlantic Investment Management Inc. owned 0.32% of Darling Ingredients worth $15,887,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Federation des caisses Desjardins du Quebec boosted its position in Darling Ingredients by 10.0% during the first quarter. Federation des caisses Desjardins du Quebec now owns 42,500 shares of the company's stock valued at $1,328,000 after purchasing an additional 3,862 shares during the last quarter. Point72 Europe London LLP bought a new position in shares of Darling Ingredients in the 1st quarter valued at about $2,446,000. Gates Capital Management Inc. grew its position in shares of Darling Ingredients by 18.7% in the 1st quarter. Gates Capital Management Inc. now owns 7,915,560 shares of the company's stock valued at $247,282,000 after acquiring an additional 1,247,117 shares during the period. DRW Securities LLC bought a new position in shares of Darling Ingredients in the 1st quarter valued at about $3,124,000. Finally, Harber Asset Management LLC grew its position in shares of Darling Ingredients by 10.4% in the 1st quarter. Harber Asset Management LLC now owns 258,567 shares of the company's stock valued at $8,078,000 after acquiring an additional 24,354 shares during the period. 94.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Darling Ingredients news, CEO Randall C. Stuewe sold 35,000 shares of Darling Ingredients stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $30.92, for a total value of $1,082,200.00. Following the completion of the sale, the chief executive officer owned 781,437 shares in the company, valued at $24,162,032.04. The trade was a 4.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.62% of the stock is owned by company insiders.

Darling Ingredients Stock Performance

NYSE:DAR traded up $0.50 during mid-day trading on Friday, hitting $32.07. 1,724,585 shares of the stock were exchanged, compared to its average volume of 2,106,425. Darling Ingredients Inc. has a fifty-two week low of $26.00 and a fifty-two week 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 firm's 50-day simple moving average is $34.20 and its 200 day simple moving average is $33.24. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 48.59 and a beta of 1.16.

Darling Ingredients (NYSE:DAR - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the firm earned $0.49 EPS. Darling Ingredients's revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, equities analysts anticipate that Darling Ingredients Inc. will post 2.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Jefferies Financial Group raised their price objective on Darling Ingredients from $45.00 to $46.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Baird R W cut Darling Ingredients from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Robert W. Baird reaffirmed a "neutral" rating and issued a $36.00 price objective (down from $40.00) on shares of Darling Ingredients in a research report on Friday, July 25th. Piper Sandler cut their price objective on Darling Ingredients from $54.00 to $50.00 and set an "overweight" rating for the company in a research report on Monday, July 28th. Finally, Tudor Pickering raised Darling Ingredients from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 11th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $43.57.

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.