Darling Ingredients Inc. $DAR Stock Holdings Decreased by Private Management Group Inc.

Key Points

• Private Management Group reduced its Darling Ingredients stake by 19.7% in the second quarter, selling 170,826 shares and retaining 697,854 shares valued at approximately $38.1 million. Institutional investors collectively own 94.44% of the company.
• Darling Ingredients reported strong quarterly results, with earnings per share of $2.41 versus the $1.40 consensus estimate and revenue of $1.72 billion, up 16.4% year over year.
• Analyst sentiment remains favorable, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $69.00; TD Cowen raised its target to $80.00. The shares opened at $64.35, near their 12-month high of $69.98.

Private Management Group Inc. lowered its position in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 19.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 697,854 shares of the company's stock after selling 170,826 shares during the quarter. Darling Ingredients accounts for about 1.0% of Private Management Group Inc.'s holdings, making the stock its 25th largest position. Private Management Group Inc. owned approximately 0.44% of Darling Ingredients worth $38,117,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Danske Bank A S purchased a new position in Darling Ingredients during the 3rd quarter worth approximately $25,000. Allworth Financial LP lifted its holdings in shares of Darling Ingredients by 227.2% in the fourth quarter. Allworth Financial LP now owns 733 shares of the company's stock valued at $26,000 after purchasing an additional 509 shares in the last quarter. SJS Investment Consulting Inc. lifted its holdings in shares of Darling Ingredients by 69.9% in the first quarter. SJS Investment Consulting Inc. now owns 423 shares of the company's stock valued at $26,000 after purchasing an additional 174 shares in the last quarter. Litman Gregory Wealth Management LLC acquired a new stake in shares of Darling Ingredients in the fourth quarter worth $29,000. Finally, Leonteq Securities AG acquired a new stake in shares of Darling Ingredients in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 94.44% of the company's stock.

Darling Ingredients Price Performance

NYSE DAR opened at $64.35 on Friday. 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 stock has a market capitalization of $10.15 billion, a PE ratio of 17.35 and a beta of 1.02. The company has a 50 day moving average price of $60.68 and a two-hundred day moving average price of $58.81. Darling Ingredients Inc. has a 12-month low of $29.15 and a 12-month high of $69.98.

Darling Ingredients (NYSE:DAR - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $2.41 EPS for the quarter, topping the consensus estimate of $1.40 by $1.01. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. Darling Ingredients had a net margin of 9.13% and a return on equity of 12.98%. The company's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 earnings per share. As a group, equities analysts predict that Darling Ingredients Inc. will post 6.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Darling Ingredients

In related news, Director Charles L. Adair bought 1,000 shares of the business's stock in a transaction on Friday, July 31st. The shares were bought at an average cost of $60.97 per share, for a total transaction of $60,970.00. Following the completion of the acquisition, the director directly owned 51,690 shares in the company, valued at approximately $3,151,539.30. This represents a 1.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Joseph Manzi sold 1,000 shares of the firm's 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 transaction, the chief accounting officer owned 18,969 shares in the company, valued at approximately $1,276,044.63. This trade represents a 5.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 10,591 shares of company stock valued at $704,303. Company insiders own 1.90% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on DAR shares. Weiss Ratings raised Darling Ingredients from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 11th. TD Cowen raised their price target 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. Barclays boosted their price objective on shares of Darling Ingredients from $62.00 to $65.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. Wall Street Zen upgraded shares of Darling Ingredients from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 15th. Finally, JPMorgan Chase & Co. increased their target price on shares of Darling Ingredients from $78.00 to $79.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Darling Ingredients has an average rating of "Moderate Buy" and an average 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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