Parsec Financial Management Inc. increased its stake in shares of Darling Ingredients Inc. (NYSE:DAR) by 5.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 145,730 shares of the company’s stock after buying an additional 7,645 shares during the period. Parsec Financial Management Inc.’s holdings in Darling Ingredients were worth $2,171,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Darling Ingredients by 554.6% in the first quarter. JPMorgan Chase & Co. now owns 3,209,779 shares of the company’s stock worth $42,273,000 after buying an additional 2,719,416 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Darling Ingredients by 258.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,047,008 shares of the company’s stock worth $13,789,000 after buying an additional 754,570 shares during the last quarter. Loomis Sayles & Co. L P increased its position in shares of Darling Ingredients by 104,746.5% in the first quarter. Loomis Sayles & Co. L P now owns 595,528 shares of the company’s stock worth $7,843,000 after buying an additional 594,960 shares during the last quarter. NFC Investments LLC acquired a new position in shares of Darling Ingredients during the first quarter worth approximately $6,972,000. Finally, Bank of Montreal Can acquired a new position in shares of Darling Ingredients during the second quarter worth approximately $7,249,000. 95.37% of the stock is owned by institutional investors and hedge funds.
Shares of Darling Ingredients Inc. (NYSE:DAR) traded up 1.28% during trading on Monday, hitting $13.50. 765,845 shares of the stock were exchanged. The stock’s 50 day moving average price is $13.67 and its 200-day moving average price is $14.32. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 20.52 and a beta of 1.77. Darling Ingredients Inc. has a one year low of $7.78 and a one year high of $15.93.
Darling Ingredients (NYSE:DAR) last released its earnings results on Thursday, August 11th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The business earned $877.50 million during the quarter, compared to analysts’ expectations of $875.85 million. Darling Ingredients had a net margin of 3.27% and a return on equity of 5.90%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.02 earnings per share. On average, analysts predict that Darling Ingredients Inc. will post $0.56 EPS for the current year.
A number of brokerages recently commented on DAR. JPMorgan Chase & Co. lowered their price target on shares of Darling Ingredients from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Monday, August 15th. TheStreet raised shares of Darling Ingredients from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. Canaccord Genuity set a $18.00 price objective on shares of Darling Ingredients and gave the stock a “buy” rating in a research note on Thursday, September 15th. Zacks Investment Research downgraded shares of Darling Ingredients from a “hold” rating to a “sell” rating in a research note on Monday, July 18th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $18.00 price objective on shares of Darling Ingredients in a research note on Friday, September 16th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $16.94.
In related news, EVP John Bullock sold 11,258 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $14.18, for a total transaction of $159,638.44. Following the completion of the sale, the executive vice president now owns 115,711 shares of the company’s stock, valued at approximately $1,640,781.98. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.75% of the company’s stock.
Darling Ingredients Company Profile
Darling Ingredients Inc, formerly Darling International Inc, is a developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients. The Company offers a range of ingredients and specialty solutions for customers in the food, pet food, pharmaceutical, feed, fuel, bioenergy and fertilizer industries.
Want to see what other hedge funds are holding DAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Darling Ingredients Inc. (NYSE:DAR).
Receive News & Ratings for Darling Ingredients Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Darling Ingredients Inc. and related companies with MarketBeat.com's FREE daily email newsletter.