PineBridge Investments L.P. raised its stake in Darling Ingredients Inc. (NYSE:DAR) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,870 shares of the company’s stock after buying an additional 811 shares during the period. PineBridge Investments L.P.’s holdings in Darling Ingredients were worth $311,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the company. Acrospire Investment Management LLC increased its stake in shares of Darling Ingredients by 9.5% in the second quarter. Acrospire Investment Management LLC now owns 6,900 shares of the company’s stock valued at $103,000 after buying an additional 600 shares in the last quarter. American Financial Group Inc. acquired a new stake in shares of Darling Ingredients during the first quarter valued at about $159,000. 1st Global Advisors Inc. increased its stake in shares of Darling Ingredients by 0.5% in the second quarter. 1st Global Advisors Inc. now owns 10,717 shares of the company’s stock valued at $160,000 after buying an additional 57 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Darling Ingredients during the second quarter valued at about $164,000. Finally, BlackRock Inc. increased its stake in shares of Darling Ingredients by 114.0% in the first quarter. BlackRock Inc. now owns 16,659 shares of the company’s stock valued at $220,000 after buying an additional 8,873 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.
Darling Ingredients Inc. (NYSE:DAR) opened at 13.08 on Thursday. The firm has a 50-day moving average price of $14.15 and a 200 day moving average price of $14.23. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 19.88 and a beta of 1.90. Darling Ingredients Inc. has a 12 month low of $7.78 and a 12 month 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, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The company earned $877.50 million during the quarter, compared to analysts’ expectations of $875.85 million. Darling Ingredients had a return on equity of 5.90% and a net margin of 3.27%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $0.02 EPS. On average, equities analysts forecast that Darling Ingredients Inc. will post $0.56 EPS for the current year.
Several brokerages recently issued reports on DAR. Goldman Sachs Group Inc. raised Darling Ingredients from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $16.00 to $18.00 in a research note on Wednesday, June 29th. Zacks Investment Research downgraded Darling Ingredients from a “hold” rating to a “sell” rating in a research note on Monday, September 12th. Roth Capital set a $16.50 price objective on Darling Ingredients and gave the stock a “buy” rating in a research note on Monday. TheStreet raised Darling Ingredients from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. 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. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Darling Ingredients currently has a consensus rating of “Buy” and a consensus price target of $16.94.
In other news, EVP John Bullock sold 11,258 shares of Darling Ingredients stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $14.18, for a total value of $159,638.44. Following the completion of the sale, the executive vice president now directly owns 115,711 shares of the company’s stock, valued at approximately $1,640,781.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.75% of the stock is owned by insiders.
About Darling Ingredients
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.
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