VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Darling Ingredients Inc. $DAR

Key Points

• Virginia Retirement Systems purchased 26,500 shares of Darling Ingredients, valued at approximately $1.45 million, while institutional investors collectively own 94.44% of the company.
• Darling Ingredients reported strong quarterly results, with EPS of $2.41 versus the $1.40 consensus estimate and revenue rising 16.4% year over year to $1.72 billion.
• Analysts remain broadly positive, giving the stock a “Moderate Buy” consensus rating and an average price target of $69, while insiders have sold more than 10,500 shares worth about $704,000 over the past 90 days.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 26,500 shares of the company's stock, valued at approximately $1,447,000.

A number of other large investors have also recently modified their holdings of the company. SJS Investment Consulting Inc. increased its holdings in Darling Ingredients by 69.9% during the 1st quarter. SJS Investment Consulting Inc. now owns 423 shares of the company's stock worth $26,000 after purchasing an additional 174 shares during the period. Turtle Creek Wealth Advisors LLC increased its stake in shares of Darling Ingredients by 2.6% during the first quarter. Turtle Creek Wealth Advisors LLC now owns 7,625 shares of the company's stock valued at $472,000 after buying an additional 196 shares during the period. Fifth Third Wealth Advisors LLC raised its holdings in shares of Darling Ingredients by 2.9% in the first quarter. Fifth Third Wealth Advisors LLC now owns 7,776 shares of the company's stock valued at $481,000 after acquiring an additional 220 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Darling Ingredients by 3.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 7,701 shares of the company's stock valued at $277,000 after acquiring an additional 267 shares in the last quarter. Finally, HB Wealth Management LLC lifted its stake in Darling Ingredients by 3.3% in the second quarter. HB Wealth Management LLC now owns 8,487 shares of the company's stock worth $464,000 after acquiring an additional 269 shares during the period. Hedge funds and other institutional investors own 94.44% of the company's stock.

Darling Ingredients Trading Down 2.0%

NYSE:DAR opened at $65.07 on Friday. Darling Ingredients Inc. has a 12 month low of $29.15 and a 12 month high of $69.98. The firm has a fifty day simple moving average of $63.12 and a 200-day simple moving average of $59.92. 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 capitalization of $10.27 billion, a P/E ratio of 17.54 and a beta of 1.02.

Darling Ingredients (NYSE:DAR - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $1.01. Darling Ingredients had a return on equity of 12.98% and a net margin of 9.13%.The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the firm earned $0.08 EPS. The firm's revenue was up 16.4% on a year-over-year basis. On average, equities research analysts anticipate that Darling Ingredients Inc. will post 6.98 earnings per share for the current year.

Insider Buying and Selling at Darling Ingredients

In other Darling Ingredients news, EVP Patrick McNutt sold 8,000 shares of the firm's 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 completion of the transaction, the executive vice president directly owned 35,777 shares of the company's stock, valued at approximately $2,400,278.93. This trade represents a 18.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Joseph Manzi sold 1,000 shares of the business's stock in a transaction dated Tuesday, August 18th. The shares were 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 of the company's stock, valued at approximately $1,276,044.63. This trade represents a 5.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,591 shares of company stock worth $704,303 in the last 90 days. Corporate insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DAR shares. Barclays increased their target price on shares of Darling Ingredients from $62.00 to $65.00 and gave the stock an "equal weight" rating in a report on Monday, August 3rd. Wall Street Zen upgraded Darling Ingredients from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 15th. Zacks Research upgraded shares of Darling Ingredients from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 19th. TD Cowen raised their price target on shares of Darling Ingredients from $70.00 to $80.00 and gave the company a "buy" rating in a report on Monday, July 27th. Finally, Weiss Ratings upgraded shares of Darling Ingredients from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $69.00.

About Darling Ingredients

Darling Ingredients Inc is a global developer and producer of sustainable ingredients derived from animal by-products, used cooking oil, food waste and other organic materials. The company collects and processes these materials into products used in animal feed, pet food, agriculture, food, fuel and industrial applications.

Its product portfolio includes protein meals, animal fats, feed-grade ingredients, fertilizer nutrients, gelatin and collagen products, and specialty ingredients. Darling also produces renewable diesel and other low-carbon fuels through its Diamond Green Diesel joint venture with Valero Energy, which converts waste fats, oils and greases into renewable fuels.

Founded in 1882, Darling Ingredients serves customers through operations spanning North America, South America, Europe, Asia and Australia.

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