Delta Capital Management LLC Acquires New Position in Darling Ingredients Inc. (NYSE:DAR)
Delta Capital Management LLC acquired a new position in shares of Darling Ingredients Inc. (NYSE:DAR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,000 shares of the company’s stock, valued at approximately $157,000.
Several other hedge funds also recently modified their holdings of DAR. State of Alaska Department of Revenue increased its position in Darling Ingredients by 78.1% in the second quarter. State of Alaska Department of Revenue now owns 32,516 shares of the company’s stock worth $511,000 after buying an additional 14,256 shares in the last quarter. Fisher Asset Management LLC increased its position in Darling Ingredients by 10.3% in the second quarter. Fisher Asset Management LLC now owns 2,268,691 shares of the company’s stock worth $35,709,000 after buying an additional 212,240 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Darling Ingredients during the second quarter worth approximately $450,000. Public Employees Retirement System of Ohio increased its position in Darling Ingredients by 2.6% in the first quarter. Public Employees Retirement System of Ohio now owns 13,252 shares of the company’s stock worth $192,000 after buying an additional 335 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Darling Ingredients during the first quarter valued at about $14,819,000. Institutional investors and hedge funds own 95.03% of the company’s stock.
Shares of Darling Ingredients Inc. (NYSE DAR) opened at 16.69 on Tuesday. Darling Ingredients Inc. has a 12 month low of $11.51 and a 12 month high of $16.99. The firm has a 50-day moving average of $16.17 and a 200 day moving average of $14.72. The company has a market capitalization of $2.75 billion, a PE ratio of 25.72 and a beta of 1.61.
Darling Ingredients (NYSE:DAR) last announced its earnings results on Thursday, May 11th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by $0.03. Darling Ingredients had a net margin of 3.06% and a return on equity of 5.15%. The business had revenue of $880.10 million for the quarter, compared to the consensus estimate of $842.52 million. During the same quarter in the previous year, the company earned $0.01 EPS. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, equities research analysts expect that Darling Ingredients Inc. will post $0.52 earnings per share for the current fiscal year.
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Several equities analysts have recently issued reports on the stock. BidaskClub downgraded shares of Darling Ingredients from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Zacks Investment Research raised shares of Darling Ingredients from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 18th. Canaccord Genuity reissued a “buy” rating and set a $18.00 price target on shares of Darling Ingredients in a report on Monday, May 15th. BMO Capital Markets reissued a “buy” rating and set a $19.00 price target on shares of Darling Ingredients in a report on Tuesday, May 16th. Finally, TheStreet raised shares of Darling Ingredients from a “c+” rating to a “b-” rating in a report on Thursday, April 27th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $17.67.
In other Darling Ingredients news, CFO Patrick C. Lynch bought 19,710 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were bought at an average price of $15.20 per share, for a total transaction of $299,592.00. Following the transaction, the chief financial officer now directly owns 110,138 shares in the company, valued at $1,674,097.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Patrick C. Lynch purchased 18,820 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were purchased at an average cost of $15.93 per share, for a total transaction of $299,802.60. Following the completion of the purchase, the chief financial officer now owns 128,958 shares in the company, valued at approximately $2,054,300.94. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 56,867 shares of company stock worth $899,938. 1.95% of the stock is owned by corporate insiders.
About Darling Ingredients
Darling Ingredients Inc (Darling) is a developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients, creating a range of ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy and fertilizer industries.
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