Legal & General Group Plc Buys Shares of 210,188 Darling Ingredients Inc. $DAR

Key Points

• Legal & General Group Plc acquired 210,188 shares of Darling Ingredients in the second quarter, worth approximately $11.48 million. Institutional investors collectively own 94.44% of the company.
• Analysts remain generally positive, with Darling Ingredients receiving a consensus “Moderate Buy” rating and an average price target of $69.00; several firms recently upgraded their ratings or raised targets.
• Darling Ingredients exceeded second-quarter earnings expectations, reporting $2.41 in EPS versus a $1.40 consensus estimate and $1.72 billion in revenue. Meanwhile, insiders sold 10,591 shares worth about $704,303 during the quarter.

Legal & General Group Plc purchased a new position in Darling Ingredients Inc. (NYSE:DAR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 210,188 shares of the company's stock, valued at approximately $11,480,000. Legal & General Group Plc owned about 0.13% of Darling Ingredients at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DAR. The Manufacturers Life Insurance Company bought a new stake in Darling Ingredients in the 2nd quarter worth about $6,286,000. Thomist Capital Management LP purchased a new position in Darling Ingredients in the 2nd quarter worth about $30,920,000. Partners Capital Investment Group LLP bought a new position in Darling Ingredients during the 2nd quarter valued at about $571,000. Cibc World Market Inc. purchased a new stake in shares of Darling Ingredients during the 2nd quarter valued at about $2,604,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Darling Ingredients during the 2nd quarter valued at about $645,000. 94.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on DAR. Weiss Ratings raised shares of Darling Ingredients from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 11th. Zacks Research raised shares of Darling Ingredients from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 19th. Barclays boosted their target price on shares of Darling Ingredients from $62.00 to $65.00 and gave the company an "equal weight" rating in a research note on Monday, August 3rd. Wall Street Zen raised Darling Ingredients from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 15th. Finally, JPMorgan Chase & Co. raised their price target on Darling Ingredients from $78.00 to $79.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Darling Ingredients has an average rating of "Moderate Buy" and a consensus target price of $69.00.

Darling Ingredients Stock Performance

DAR opened at $66.59 on Tuesday. The company's 50 day moving average is $60.95 and its 200 day moving average is $59.01. The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.73. The company has a market cap of $10.51 billion, a price-to-earnings ratio of 17.95 and a beta of 1.02. 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 announced its earnings results on Thursday, July 30th. The company reported $2.41 EPS for the quarter, beating analysts' consensus estimates of $1.40 by $1.01. The business had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.71 billion. Darling Ingredients had a net margin of 9.13% and a return on equity of 12.98%. The firm's revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.08 earnings per share. On average, equities research analysts predict that Darling Ingredients Inc. will post 6.98 EPS for the current year.

Insider Buying and Selling

In other news, EVP Patrick Mcnutt sold 8,000 shares of the company's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $67.09, for a total value of $536,720.00. Following the completion of the sale, the executive vice president directly owned 35,777 shares in the company, valued at $2,400,278.93. This represents a 18.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Joseph Manzi sold 1,000 shares of the firm's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $67.27, for a total value of $67,270.00. Following the completion of the transaction, the chief accounting officer directly owned 18,969 shares in the company, valued at approximately $1,276,044.63. This represents a 5.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 10,591 shares of company stock valued at $704,303. Company insiders own 1.90% of the company's stock.

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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