Engineers Gate Manager LP Grows Stake in Darling Ingredients Inc. $DAR

Key Points

• Engineers Gate Manager LP boosted its Darling Ingredients stake by 1,071.6% in the fourth quarter, ending with 491,040 shares valued at about $17.7 million.
• Institutional ownership remains very high, with 94.44% of Darling Ingredients stock held by hedge funds and other institutions. Several major investors, including Vanguard and Dimensional, also increased their positions recently.
• Darling Ingredients reported strong quarterly results, posting $0.83 EPS versus the $0.56 estimate and 12.3% revenue growth year over year. Analysts remain generally positive, with an average rating of Moderate Buy and an average target price of $69.

Engineers Gate Manager LP grew its position in Darling Ingredients Inc. (NYSE:DAR - Free Report) by 1,071.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 491,040 shares of the company's stock after purchasing an additional 449,127 shares during the quarter. Engineers Gate Manager LP owned about 0.31% of Darling Ingredients worth $17,677,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Darling Ingredients by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 15,394,342 shares of the company's stock valued at $554,196,000 after buying an additional 512,219 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Darling Ingredients by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,019,406 shares of the company's stock valued at $288,704,000 after buying an additional 242,857 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Darling Ingredients by 6.0% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,122,104 shares of the company's stock valued at $158,119,000 after buying an additional 287,665 shares during the last quarter. Davis Selected Advisers grew its holdings in shares of Darling Ingredients by 15.8% during the fourth quarter. Davis Selected Advisers now owns 2,842,306 shares of the company's stock valued at $102,324,000 after buying an additional 388,366 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Darling Ingredients by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 2,839,649 shares of the company's stock valued at $102,249,000 after buying an additional 76,151 shares during the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Darling Ingredients

In related news, CAO Joseph Manzi sold 3,000 shares of the company's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $63.89, for a total transaction of $191,670.00. Following the completion of the transaction, the chief accounting officer owned 19,969 shares in the company, valued at $1,275,819.41. This represents a 13.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by company insiders.

Darling Ingredients Stock Down 2.6%

DAR opened at $53.76 on Thursday. Darling Ingredients Inc. has a twelve month low of $29.15 and a twelve month high of $66.02. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average price of $60.27 and a 200 day moving average price of $51.11. The company has a market cap of $8.54 billion, a PE ratio of 38.95 and a beta of 1.02.

Darling Ingredients (NYSE:DAR - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.27. Darling Ingredients had a net margin of 3.54% and a return on equity of 5.65%. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the firm earned ($0.16) EPS. The company's revenue for the quarter was up 12.3% on a year-over-year basis. Sell-side analysts expect that Darling Ingredients Inc. will post 4.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on DAR shares. Scotiabank upped their price target on shares of Darling Ingredients from $61.00 to $70.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. upped their price target on shares of Darling Ingredients from $78.00 to $79.00 and gave the company an "overweight" rating in a report on Tuesday, May 12th. UBS Group upped their price target on shares of Darling Ingredients from $58.00 to $78.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. Robert W. Baird upped their price target on shares of Darling Ingredients from $64.00 to $75.00 and gave the company an "outperform" rating in a report on Tuesday, April 7th. Finally, Wall Street Zen lowered shares of Darling Ingredients from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 16th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $69.00.

Darling Ingredients 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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