The Manufacturers Life Insurance Company Purchases Shares of 115,095 Darling Ingredients Inc. $DAR

Key Points

• The Manufacturers Life Insurance Company acquired 115,095 shares of Darling Ingredients, valued at approximately $6.3 million, while institutional investors collectively own 94.44% of the company.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $69.00; several firms recently raised their targets.
• Darling Ingredients posted quarterly EPS of $2.41, exceeding estimates of $1.40, while revenue rose 16.4% year over year to $1.72 billion.

The Manufacturers Life Insurance Company purchased a new position in Darling Ingredients Inc. (NYSE:DAR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 115,095 shares of the company's stock, valued at approximately $6,286,000. The Manufacturers Life Insurance Company owned about 0.07% of Darling Ingredients as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Thomist Capital Management LP bought a new position in shares of Darling Ingredients during the second quarter valued at about $30,920,000. Partners Capital Investment Group LLP bought a new stake in shares of Darling Ingredients in the second quarter worth about $571,000. Cibc World Market Inc. bought a new stake in shares of Darling Ingredients in the second quarter worth about $2,604,000. Sanctuary Advisors LLC purchased a new position in Darling Ingredients during the 2nd quarter valued at about $645,000. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Darling Ingredients during the 2nd quarter valued at about $118,952,000. Hedge funds and other institutional investors own 94.44% of the company's stock.

Analyst Ratings Changes

DAR has been the subject of several research analyst reports. TD Cowen increased their price objective on Darling Ingredients from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Wall Street Zen raised Darling Ingredients from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 15th. Weiss Ratings upgraded shares of Darling Ingredients from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 11th. Jefferies Financial Group boosted their price objective on shares of Darling Ingredients from $73.00 to $75.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Darling Ingredients from $78.00 to $79.00 and gave the stock an "overweight" rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $69.00.

Darling Ingredients Stock Up 0.0%

DAR stock opened at $64.35 on Monday. Darling Ingredients Inc. has a fifty-two week low of $29.15 and a fifty-two week high of $69.98. The company has a market capitalization of $10.15 billion, a price-to-earnings ratio of 17.35 and a beta of 1.02. The business's 50 day moving average price is $60.68 and its two-hundred day moving average price is $58.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.03 and a current ratio of 1.56.

Darling Ingredients (NYSE:DAR - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $1.40 by $1.01. The company had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.71 billion. Darling Ingredients had a return on equity of 12.98% and a net margin of 9.13%.The firm's revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 earnings per share. As a group, analysts forecast 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, EVP Nicholas James Kemphaus sold 1,591 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $63.05, for a total value of $100,312.55. Following the completion of the transaction, the executive vice president directly owned 35,087 shares in the company, valued at $2,212,235.35. This trade represents a 4.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Patrick Mcnutt sold 8,000 shares of Darling Ingredients stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $67.09, for a total transaction of $536,720.00. Following the transaction, the executive vice president owned 35,777 shares of the company's stock, valued at $2,400,278.93. The trade was a 18.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 10,591 shares of company stock valued at $704,303 over the last 90 days. 1.90% of the stock is owned by corporate insiders.

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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