Perpetual Ltd Boosts Holdings in Darling Ingredients Inc. $DAR

Key Points

• Perpetual Ltd increased its holdings in Darling Ingredients Inc. by 5.3% during Q2, owning approximately 0.31% of the company, valued at about $18.88 million.
• CEO Randall C. Stuewe sold 35,000 shares of Darling Ingredients, valued at over $1 million, reducing his direct ownership by 4.29%.
• Darling Ingredients recently received varied ratings from analysts, with a consensus rating of "Moderate Buy" and a price target of $43.57.

Perpetual Ltd grew its holdings in Darling Ingredients Inc. (NYSE:DAR - Free Report) by 5.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 497,727 shares of the company's stock after acquiring an additional 25,082 shares during the quarter. Perpetual Ltd owned 0.31% of Darling Ingredients worth $18,884,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of DAR. Xponance Inc. boosted its stake in shares of Darling Ingredients by 2.0% in the first quarter. Xponance Inc. now owns 20,183 shares of the company's stock valued at $631,000 after buying an additional 393 shares during the period. State of Michigan Retirement System lifted its holdings in shares of Darling Ingredients by 1.1% in the first quarter. State of Michigan Retirement System now owns 38,074 shares of the company's stock worth $1,189,000 after acquiring an additional 400 shares during the last quarter. Spire Wealth Management lifted its stake in Darling Ingredients by 19.8% in the 1st quarter. Spire Wealth Management now owns 2,831 shares of the company's stock valued at $88,000 after purchasing an additional 468 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Darling Ingredients by 2.6% in the 1st quarter. State of Alaska Department of Revenue now owns 18,610 shares of the company's stock valued at $581,000 after acquiring an additional 470 shares during the last quarter. Finally, Hexagon Capital Partners LLC raised its holdings in Darling Ingredients by 33.3% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,000 shares of the company's stock valued at $62,000 after buying an additional 500 shares during the last quarter. Institutional investors own 94.44% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on DAR shares. Robert W. Baird reaffirmed a "neutral" rating and set a $36.00 target price (down from $40.00) on shares of Darling Ingredients in a research report on Friday, July 25th. Jefferies Financial Group lifted their target price on Darling Ingredients from $45.00 to $46.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Baird R W lowered shares of Darling Ingredients from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Piper Sandler lowered their price objective on shares of Darling Ingredients from $54.00 to $50.00 and set an "overweight" rating for the company in a research note on Monday, July 28th. Finally, JPMorgan Chase & Co. began coverage on shares of Darling Ingredients in a research note on Wednesday, August 20th. They issued an "overweight" rating and a $43.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Darling Ingredients currently has a consensus rating of "Moderate Buy" and an average price target of $43.57.

Darling Ingredients Stock Performance

Darling Ingredients stock traded up $0.76 during mid-day trading on Tuesday, reaching $31.98. The company's stock had a trading volume of 412,919 shares, compared to its average volume of 2,377,076. The company has a market capitalization of $5.06 billion, a P/E ratio of 48.20 and a beta of 1.16. Darling Ingredients Inc. has a 12-month low of $26.00 and a 12-month high of $43.49. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 1.50. The firm's fifty day moving average price is $32.84 and its two-hundred day moving average price is $32.91.

Darling Ingredients (NYSE:DAR - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.03). The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.49 billion. Darling Ingredients had a net margin of 1.85% and a return on equity of 2.35%. Darling Ingredients's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.49 earnings per share. Sell-side analysts predict that Darling Ingredients Inc. will post 2.81 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Randall C. Stuewe sold 35,000 shares of the business's stock in a transaction dated Monday, August 18th. The stock was 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 owned 781,437 shares of the company's stock, valued at approximately $24,162,032.04. The trade was a 4.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.07% of the stock is currently owned by insiders.

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.