Havemeyer Place LP Invests $881,000 in Darling Ingredients Inc. $DAR

Key Points

• Havemeyer Place LP opened a new position in Darling Ingredients during the fourth quarter, buying 24,463 shares worth about $881,000.
• Institutional ownership remains heavy, with hedge funds and other investors owning 94.44% of the stock; several firms, including Goldman Sachs, UBS AM, and Invesco, also increased their stakes.
• Darling Ingredients recently beat earnings expectations, reporting $0.83 EPS versus the $0.56 estimate, and analysts currently rate the stock a Moderate Buy with an average price target of $69.

Havemeyer Place LP purchased a new position in Darling Ingredients Inc. (NYSE:DAR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,463 shares of the company's stock, valued at approximately $881,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Goldman Sachs Group Inc. grew its stake in Darling Ingredients by 17.0% in the first quarter. Goldman Sachs Group Inc. now owns 644,022 shares of the company's stock worth $20,119,000 after purchasing an additional 93,408 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Darling Ingredients by 10.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,777 shares of the company's stock worth $18,768,000 after purchasing an additional 58,925 shares in the last quarter. Focus Partners Wealth bought a new position in Darling Ingredients in the first quarter worth approximately $205,000. M&T Bank Corp grew its stake in Darling Ingredients by 11.2% in the second quarter. M&T Bank Corp now owns 8,384 shares of the company's stock worth $318,000 after purchasing an additional 847 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Darling Ingredients by 5.0% in the second quarter. Invesco Ltd. now owns 677,528 shares of the company's stock worth $25,705,000 after purchasing an additional 32,553 shares in the last quarter. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Darling Ingredients

In other Darling Ingredients news, CAO Joseph Manzi sold 3,000 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $63.89, for a total transaction of $191,670.00. Following the sale, the chief accounting officer owned 19,969 shares of the company's stock, valued at approximately $1,275,819.41. This trade represents a 13.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.90% of the company's stock.

Darling Ingredients Stock Down 2.0%

Shares of NYSE DAR opened at $58.26 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $9.26 billion, a PE ratio of 42.22 and a beta of 1.02. The stock's fifty day simple moving average is $61.08 and its two-hundred day simple moving average is $50.02. Darling Ingredients Inc. has a 12-month low of $29.15 and a 12-month high of $66.02.

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

Wall Street Analysts Forecast Growth

DAR has been the topic of several research analyst reports. Stephens increased their price objective on Darling Ingredients from $65.00 to $70.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 21st. Scotiabank increased their price objective on Darling Ingredients from $61.00 to $70.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 22nd. Weiss Ratings raised Darling Ingredients from a "sell (d+)" rating to a "hold (c)" rating in a research note on Tuesday, May 12th. Piper Sandler increased their price objective on Darling Ingredients from $49.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, February 13th. Finally, BMO Capital Markets increased their price objective on Darling Ingredients from $45.00 to $57.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. 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, Darling Ingredients presently has a consensus rating of "Moderate Buy" and an average price target 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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