First Trust Advisors LP cut its stake in shares of Darling Ingredients Inc. (NYSE:DAR) by 16.9% during the second quarter, Holdings Channel reports. The firm owned 130,257 shares of the company’s stock after selling 26,517 shares during the period. First Trust Advisors LP owned approximately 0.08% of Darling Ingredients worth $1,941,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. 1st Global Advisors Inc. increased its stake in 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 during the period. Louisiana State Employees Retirement System boosted its position in shares of Darling Ingredients by 0.3% in the second quarter. Louisiana State Employees Retirement System now owns 72,900 shares of the company’s stock valued at $1,086,000 after buying an additional 200 shares in the last quarter. Aperio Group LLC boosted its position in shares of Darling Ingredients by 0.9% in the first quarter. Aperio Group LLC now owns 77,169 shares of the company’s stock valued at $1,016,000 after buying an additional 705 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in shares of Darling Ingredients by 5.6% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 17,312 shares of the company’s stock valued at $258,000 after buying an additional 920 shares in the last quarter. Finally, Wall Street Access Asset Management LLC boosted its position in shares of Darling Ingredients by 0.7% in the second quarter. Wall Street Access Asset Management LLC now owns 140,565 shares of the company’s stock valued at $2,094,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.
Shares of Darling Ingredients Inc. (NYSE:DAR) traded down 1.58% during trading on Friday, reaching $13.08. The company’s stock had a trading volume of 1,463,154 shares. Darling Ingredients Inc. has a 12-month low of $7.78 and a 12-month high of $15.93. The stock’s 50-day moving average is $14.04 and its 200-day moving average is $14.23. The stock has a market cap of $2.15 billion, a P/E ratio of 19.88 and a beta of 1.90.
Darling Ingredients (NYSE:DAR) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. Darling Ingredients had a return on equity of 5.90% and a net margin of 3.27%. The company earned $877.50 million during the quarter, compared to analyst estimates of $875.85 million. During the same quarter last year, the company earned $0.02 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Darling Ingredients Inc. will post $0.56 earnings per share for the current fiscal year.
DAR has been the subject of several analyst reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Darling Ingredients in a report on Wednesday, June 8th. Zacks Investment Research raised Darling Ingredients from a “sell” rating to a “hold” rating in a report on Tuesday, June 14th. Goldman Sachs Group Inc. raised Darling Ingredients from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $16.00 to $18.00 in a report on Wednesday, June 29th. TheStreet raised Darling Ingredients from a “hold” rating to a “buy” rating in a report on Thursday, August 11th. Finally, JPMorgan Chase & Co. dropped their price objective on Darling Ingredients from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Monday, August 15th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $16.94.
In other Darling Ingredients news, EVP John Bullock sold 11,258 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $14.18, for a total transaction of $159,638.44. Following the sale, the executive vice president now owns 115,711 shares in the company, valued at $1,640,781.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.75% of the company’s stock.
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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