Sumitomo Mitsui Trust Group Inc. Buys 19,428 Shares of Darling Ingredients Inc. $DAR

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Darling Ingredients Inc. (NYSE:DAR) by 69.3% in the third quarter, Holdings Channel.com reports. The firm owned 47,473 shares of the company’s stock after purchasing an additional 19,428 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Darling Ingredients were worth $2,882,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Financial Management Professionals Inc. bought a new position in shares of Darling Ingredients during the 3rd quarter worth about $26,000. McCarley & Cook Financial Planners bought a new stake in shares of Darling Ingredients in the third quarter valued at about $30,000. Pension & Wealth Management Advisors Inc. bought a new stake in shares of Darling Ingredients in the third quarter valued at about $34,000. Cedar Mountain Advisors LLC acquired a new stake in Darling Ingredients during the first quarter worth about $47,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in Darling Ingredients during the second quarter worth about $53,000. 94.44% of the stock is currently owned by institutional investors and hedge funds.

Darling Ingredients Stock Performance

NYSE DAR opened at $50.22 on Friday. The stock has a market cap of $7.92 billion, a P/E ratio of 9.55 and a beta of 1.00. The company’s 50-day simple moving average is $61.04 and its 200 day simple moving average is $58.50. Darling Ingredients Inc. has a twelve month low of $31.65 and a twelve month high of $69.98. 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 announced its quarterly earnings results on Wednesday, October 28th. The company reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.03). The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.79 billion. Darling Ingredients had a return on equity of 17.76% and a net margin of 12.48%. During the same quarter in the prior year, the business earned $0.12 EPS. As a group, research analysts forecast that Darling Ingredients Inc. will post 6.85 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Joseph Manzi sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $67.27, for a total value of $67,270.00. Following the sale, the chief accounting officer directly owned 18,969 shares in the company, valued at approximately $1,276,044.63. This represents a 5.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Nicholas Kemphaus sold 1,591 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $63.05, for a total value of $100,312.55. Following the completion of the transaction, the executive vice president directly owned 35,087 shares of the company’s stock, valued at approximately $2,212,235.35. The trade was a 4.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 10,591 shares of company stock worth $704,303. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on DAR shares. Wall Street Zen lowered Darling Ingredients from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 31st. JPMorgan Chase & Co. raised their price objective on Darling Ingredients from $82.00 to $83.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. UBS Group lifted their price objective on Darling Ingredients from $78.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, September 22nd. Weiss Ratings raised Darling Ingredients from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, October 12th. Finally, Zacks Research cut Darling Ingredients from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Darling Ingredients currently has an average rating of “Moderate Buy” and a consensus target price of $73.80.

Darling Ingredients Company Profile

Darling Ingredients Inc collects and transforms animal by-products and other organic materials into ingredients and products used in food, animal feed, fuel and other markets. Its operations help convert materials from meat processing, food production and used cooking oils into usable fats, proteins, oils and other ingredients.

The company’s businesses span feed ingredients, food ingredients and fuel ingredients. Products include animal nutrition ingredients, gelatin and collagen, and fats and oils used in food and industrial applications.