Public Employees Retirement System of Ohio Makes New Investment in Darling Ingredients Inc. $DAR

Public Employees Retirement System of Ohio acquired a new position in Darling Ingredients Inc. (NYSE:DAR) in the 2nd quarter, Holdings Channel reports. The firm acquired 49,953 shares of the company’s stock, valued at approximately $2,728,000.

Other hedge funds have also made changes to their positions in the company. Capstone Investment Advisors LLC acquired a new position in shares of Darling Ingredients during the 2nd quarter valued at $514,000. Corient Private Wealth LP acquired a new stake in Darling Ingredients in the 2nd quarter valued at $481,000. Palo Duro Investment Partners LP purchased a new position in Darling Ingredients in the second quarter valued at about $53,980,000. Bank of America Corp DE purchased a new position in Darling Ingredients in the second quarter valued at about $129,371,000. Finally, Freestone Grove Partners LP acquired a new position in shares of Darling Ingredients during the second quarter worth about $885,000. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Insider Activity at Darling Ingredients

In other Darling Ingredients news, EVP Patrick McNutt sold 8,000 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $67.09, for a total transaction of $536,720.00. Following the completion of the transaction, the executive vice president directly owned 35,777 shares of the company’s stock, valued at $2,400,278.93. This trade represents a 18.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles Adair bought 1,000 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was bought at an average cost of $60.97 per share, with a total value of $60,970.00. Following the transaction, the director directly owned 51,690 shares in the company, valued at approximately $3,151,539.30. The trade was a 1.97% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have sold 10,591 shares of company stock valued at $704,303. 1.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

DAR has been the subject of a number of recent research reports. Barclays increased their target price on Darling Ingredients from $62.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Wall Street Zen upgraded Darling Ingredients from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 15th. TD Cowen increased their price objective on shares of Darling Ingredients from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Weiss Ratings upgraded shares of Darling Ingredients from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Finally, Zacks Research raised shares of Darling Ingredients from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $69.00.

Darling Ingredients Stock Performance

Shares of DAR opened at $65.32 on Friday. The business’s 50 day moving average is $62.05 and its two-hundred day moving average is $59.41. Darling Ingredients Inc. has a 52-week low of $29.15 and a 52-week high of $69.98. The firm has a market cap of $10.31 billion, a price-to-earnings ratio of 17.61 and a beta of 1.02. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.73.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings results on Thursday, July 30th. The company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $1.01. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. Darling Ingredients had a net margin of 9.13% and a return on equity of 12.98%. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.08 earnings per share. Analysts forecast that Darling Ingredients Inc. will post 6.98 EPS for the current fiscal year.

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.