Convergence Investment Partners LLC Makes New Investment in Darling Ingredients Inc. $DAR

Convergence Investment Partners LLC bought a new stake in shares of Darling Ingredients Inc. (NYSE:DAR) during the first quarter, Holdings Channel reports. The fund bought 42,699 shares of the company’s stock, valued at approximately $2,641,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DAR. Goldman Sachs Group Inc. boosted its position in Darling Ingredients by 17.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 644,022 shares of the company’s stock valued at $20,119,000 after acquiring an additional 93,408 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Darling Ingredients by 10.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,777 shares of the company’s stock worth $18,768,000 after purchasing an additional 58,925 shares during the last quarter. Focus Partners Wealth purchased a new stake in shares of Darling Ingredients during the 1st quarter worth $205,000. M&T Bank Corp boosted its position in Darling Ingredients by 11.2% during the second quarter. M&T Bank Corp now owns 8,384 shares of the company’s stock valued at $318,000 after purchasing an additional 847 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Darling Ingredients by 5.0% in the second quarter. Invesco Ltd. now owns 677,528 shares of the company’s stock valued at $25,705,000 after purchasing an additional 32,553 shares during the last quarter. 94.44% of the stock is currently owned by institutional investors.

Darling Ingredients Trading Up 0.8%

Shares of NYSE:DAR opened at $63.61 on Tuesday. The business’s 50-day moving average is $58.39 and its 200 day moving average is $54.60. Darling Ingredients Inc. has a 1 year low of $29.15 and a 1 year high of $66.02. The firm has a market capitalization of $10.11 billion, a P/E ratio of 46.09 and a beta of 1.04. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.58 and a quick ratio of 1.03.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.27. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Darling Ingredients had a return on equity of 5.65% and a net margin of 3.54%.The firm’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the business posted ($0.16) earnings per share. On average, research analysts predict that Darling Ingredients Inc. will post 4.67 earnings per share for the current fiscal year.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on DAR shares. Scotiabank boosted their target price on shares of Darling Ingredients from $61.00 to $70.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Barclays lifted their price objective on shares of Darling Ingredients from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 2nd. TD Cowen reduced their price objective on shares of Darling Ingredients from $76.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, June 23rd. Wall Street Zen raised shares of Darling Ingredients from a “hold” rating to a “buy” rating in a research report on Sunday, July 5th. Finally, UBS Group raised their target price on shares of Darling Ingredients from $58.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Darling Ingredients presently has a consensus rating of “Moderate Buy” and an average price target of $67.82.

About Darling Ingredients

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.