Private Management Group Inc. Purchases 277,261 Shares of Darling Ingredients Inc. (NYSE:DAR)

Private Management Group Inc. raised its position in Darling Ingredients Inc. (NYSE:DAR) by 52.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 802,451 shares of the company’s stock after buying an additional 277,261 shares during the quarter. Darling Ingredients accounts for 1.1% of Private Management Group Inc.’s holdings, making the stock its 25th biggest holding. Private Management Group Inc.’s holdings in Darling Ingredients were worth $29,490,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Caprock Group LLC increased its position in Darling Ingredients by 4.3% during the first quarter. Caprock Group LLC now owns 6,691 shares of the company’s stock worth $311,000 after acquiring an additional 277 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Darling Ingredients by 1.5% during the fourth quarter. Fisher Asset Management LLC now owns 23,494 shares of the company’s stock worth $1,171,000 after purchasing an additional 341 shares during the period. Avantax Advisory Services Inc. raised its position in shares of Darling Ingredients by 9.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 4,290 shares of the company’s stock valued at $214,000 after buying an additional 371 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Darling Ingredients by 24.7% in the fourth quarter. Parallel Advisors LLC now owns 1,966 shares of the company’s stock valued at $98,000 after buying an additional 389 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Darling Ingredients by 1,412.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 499 shares of the company’s stock worth $25,000 after buying an additional 466 shares in the last quarter. Institutional investors own 94.44% of the company’s stock.

Insiders Place Their Bets

In other Darling Ingredients news, EVP Robert W. Day purchased 2,532 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was purchased at an average price of $39.37 per share, with a total value of $99,684.84. Following the completion of the purchase, the executive vice president now owns 12,607 shares of the company’s stock, valued at $496,337.59. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.62% of the company’s stock.

Darling Ingredients Price Performance

Shares of DAR opened at $36.74 on Monday. The company has a quick ratio of 0.91, a current ratio of 1.57 and a debt-to-equity ratio of 0.95. The stock has a market cap of $5.84 billion, a PE ratio of 11.00 and a beta of 1.24. Darling Ingredients Inc. has a 12-month low of $33.94 and a 12-month high of $63.67. The business has a 50-day simple moving average of $38.34 and a two-hundred day simple moving average of $40.81.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.10. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. Darling Ingredients had a return on equity of 8.38% and a net margin of 6.04%. The firm’s revenue was down 17.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.55 earnings per share. Analysts anticipate that Darling Ingredients Inc. will post 2.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DAR shares. Jefferies Financial Group dropped their price objective on Darling Ingredients from $53.00 to $47.00 and set a “buy” rating for the company in a report on Friday, July 26th. Scotiabank dropped their price target on Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. TD Cowen decreased their price target on Darling Ingredients from $51.00 to $45.00 and set a “hold” rating on the stock in a research note on Thursday, June 13th. Stifel Nicolaus dropped their price objective on Darling Ingredients from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Finally, Citigroup raised Darling Ingredients from a “neutral” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.30.

Darling Ingredients Profile

Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.