Louisiana State Employees Retirement System Makes New Investment in Darling Ingredients Inc. $DAR

Louisiana State Employees Retirement System bought a new position in shares of Darling Ingredients Inc. (NYSE:DAR) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 45,900 shares of the company’s stock, valued at approximately $2,839,000.

Other hedge funds have also bought and sold shares of the company. Triangle Securities Wealth Management purchased a new stake in Darling Ingredients during the first quarter worth about $209,000. Ritholtz Wealth Management purchased a new stake in Darling Ingredients in the 1st quarter worth about $402,000. Fifth Third Wealth Advisors LLC raised its stake in Darling Ingredients by 2.9% in the 1st 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 during the period. OP Asset Management Ltd bought a new stake in Darling Ingredients in the 1st quarter valued at about $401,000. Finally, Assenagon Asset Management S.A. lifted its holdings in Darling Ingredients by 72.9% during the first quarter. Assenagon Asset Management S.A. now owns 2,091,960 shares of the company’s stock valued at $129,388,000 after purchasing an additional 882,185 shares during the last quarter. 94.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Joseph Manzi sold 3,000 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $63.89, for a total value of $191,670.00. Following the completion of the sale, the chief accounting officer owned 19,969 shares of the company’s stock, valued at $1,275,819.41. This trade represents a 13.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.90% of the company’s stock.

Darling Ingredients Trading Down 0.0%

Shares of DAR stock opened at $52.48 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.82. The business has a 50-day moving average price of $59.14 and a two-hundred day moving average price of $51.92. Darling Ingredients Inc. has a 12-month low of $29.15 and a 12-month high of $66.02. The firm has a market cap of $8.34 billion, a P/E ratio of 38.03 and a beta of 1.02.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.27. Darling Ingredients had a net margin of 3.54% and a return on equity of 5.65%. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the company earned ($0.16) EPS. The firm’s revenue was up 12.3% on a year-over-year basis. Equities analysts anticipate that Darling Ingredients Inc. will post 4.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on DAR shares. Jefferies Financial Group lifted their target price on shares of Darling Ingredients from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Barclays started coverage on shares of Darling Ingredients in a report on Monday, June 22nd. They issued an “equal weight” rating and a $58.00 price objective for the company. Scotiabank lifted their price objective on shares of Darling Ingredients from $61.00 to $70.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. TD Cowen lowered their target price on shares of Darling Ingredients from $76.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, June 23rd. Finally, Weiss Ratings downgraded Darling Ingredients from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Darling Ingredients currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.45.

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.