QRG Capital Management Inc. Purchases New Position in Darling Ingredients Inc. $DAR

QRG Capital Management Inc. purchased a new stake in Darling Ingredients Inc. (NYSE:DAR) in the second quarter, Holdings Channel reports. The firm purchased 5,445 shares of the company’s stock, valued at approximately $207,000.

A number of other large investors have also recently modified their holdings of DAR. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Darling Ingredients in the first quarter valued at approximately $30,000. Hexagon Capital Partners LLC boosted its holdings in shares of Darling Ingredients by 33.3% in the first quarter. Hexagon Capital Partners LLC now owns 2,000 shares of the company’s stock valued at $62,000 after purchasing an additional 500 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Darling Ingredients by 101.3% in the first quarter. GAMMA Investing LLC now owns 2,063 shares of the company’s stock valued at $64,000 after purchasing an additional 1,038 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Darling Ingredients by 45.0% in the second quarter. Parallel Advisors LLC now owns 2,172 shares of the company’s stock valued at $82,000 after purchasing an additional 674 shares during the period. Finally, Spire Wealth Management boosted its holdings in shares of Darling Ingredients by 19.8% in the first quarter. Spire Wealth Management now owns 2,831 shares of the company’s stock valued at $88,000 after purchasing an additional 468 shares during the period. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on DAR shares. Jefferies Financial Group set a $42.00 target price on Darling Ingredients in a report on Wednesday. Baird R W lowered Darling Ingredients from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Robert W. Baird restated a “neutral” rating and set a $36.00 target price (down previously from $40.00) on shares of Darling Ingredients in a report on Friday, July 25th. JPMorgan Chase & Co. started coverage on Darling Ingredients in a report on Wednesday, August 20th. They set an “overweight” rating and a $43.00 target price for the company. Finally, Piper Sandler lowered their target price on Darling Ingredients from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.

Darling Ingredients Stock Performance

Shares of DAR stock opened at $30.12 on Monday. The business’s fifty day simple moving average is $31.87 and its 200-day simple moving average is $33.03. The company has a market cap of $4.76 billion, a PE ratio of 45.64, a PEG ratio of 1.61 and a beta of 1.22. The company has a current ratio of 1.50, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. Darling Ingredients Inc. has a 12-month low of $26.00 and a 12-month high of $43.49.

Darling Ingredients (NYSE:DAR) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. Darling Ingredients had a return on equity of 2.35% and a net margin of 1.85%.The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 earnings per share. Analysts expect that Darling Ingredients Inc. will post 2.81 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Randall C. Stuewe sold 35,000 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $30.92, for a total transaction of $1,082,200.00. Following the transaction, the chief executive officer directly owned 781,437 shares of the company’s stock, valued at approximately $24,162,032.04. This represents a 4.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.62% of the company’s stock.

About Darling Ingredients

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.