Atlantic Investment Management Inc. Reduces Holdings 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. lessened its holdings in Darling Ingredients Inc. (NYSE:DAR - Free Report) by 13.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 508,550 shares of the company's stock after selling 80,500 shares during the period. Darling Ingredients makes up 8.9% of Atlantic Investment Management Inc.'s investment portfolio, making the stock its 6th largest position. Atlantic Investment Management Inc. owned 0.32% of Darling Ingredients worth $15,887,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of DAR. Northern Trust Corp increased its holdings in Darling Ingredients by 15.8% during the 4th quarter. Northern Trust Corp now owns 1,402,348 shares of the company's stock worth $47,245,000 after purchasing an additional 190,908 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in Darling Ingredients in the 4th quarter valued at approximately $258,000. Comerica Bank increased its position in Darling Ingredients by 36.9% during the fourth quarter. Comerica Bank now owns 155,365 shares of the company's stock worth $5,234,000 after buying an additional 41,856 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Darling Ingredients during the fourth quarter worth $2,225,000. Finally, Centiva Capital LP boosted its holdings in Darling Ingredients by 242.2% in the fourth quarter. Centiva Capital LP now owns 44,307 shares of the company's stock valued at $1,493,000 after acquiring an additional 31,360 shares during the last quarter. Hedge funds and other institutional investors own 94.44% of the company's stock.

Insider Activity at Darling Ingredients

In other news, CEO Randall C. Stuewe sold 35,000 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $30.92, for a total transaction of $1,082,200.00. Following the completion of the transaction, the chief executive officer directly owned 781,437 shares in the company, valued at $24,162,032.04. This represents a 4.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.07% of the stock is currently owned by corporate insiders.

Darling Ingredients Trading Down 3.1%

Shares of Darling Ingredients stock traded down $1.01 on Monday, hitting $31.03. 933,181 shares of the company's stock traded hands, compared to its average volume of 2,355,971. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.50 and a quick ratio of 0.89. Darling Ingredients Inc. has a one year low of $26.00 and a one year high of $43.49. The firm's 50-day moving average price is $34.20 and its two-hundred day moving average price is $33.20. The stock has a market capitalization of $4.91 billion, a PE ratio of 47.02 and a beta of 1.16.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DAR shares. Baird R W lowered Darling Ingredients from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. started coverage on Darling Ingredients in a report on Wednesday, August 20th. They issued an "overweight" rating and a $43.00 price objective for the company. Robert W. Baird reiterated a "neutral" rating and set a $36.00 price objective (down previously from $40.00) on shares of Darling Ingredients in a research report on Friday, July 25th. Piper Sandler reduced their target price on Darling Ingredients from $54.00 to $50.00 and set an "overweight" rating for the company in a report on Monday, July 28th. Finally, Jefferies Financial Group increased their price objective on Darling Ingredients from $45.00 to $46.00 and gave the stock a "buy" rating in a report on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Darling Ingredients presently has an average rating of "Moderate Buy" and an average target price 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.