Man Group plc Acquires New Holdings in Darling Ingredients Inc. $DAR

Man Group plc bought a new position in shares of Darling Ingredients Inc. (NYSE:DAR) during the second quarter, Holdings Channel reports. The fund bought 1,444,081 shares of the company’s stock, valued at approximately $78,876,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Danske Bank A S purchased a new position in shares of Darling Ingredients during the 3rd quarter valued at $25,000. Allworth Financial LP grew its position in Darling Ingredients by 227.2% during the fourth quarter. Allworth Financial LP now owns 733 shares of the company’s stock worth $26,000 after buying an additional 509 shares in the last quarter. SJS Investment Consulting Inc. increased its stake in Darling Ingredients by 69.9% in the 1st quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock worth $26,000 after acquiring an additional 174 shares during the last quarter. Litman Gregory Wealth Management LLC purchased a new stake in shares of Darling Ingredients in the 4th quarter valued at about $29,000. Finally, Leonteq Securities AG purchased a new stake in shares of Darling Ingredients in the 4th quarter valued at about $35,000. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

Darling Ingredients Stock Up 0.3%

Shares of DAR opened at $62.52 on Wednesday. Darling Ingredients Inc. has a 1 year low of $29.15 and a 1 year high of $69.98. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.56 and a quick ratio of 1.03. The stock has a 50 day simple moving average of $60.13 and a two-hundred day simple moving average of $58.57. The firm has a market cap of $9.87 billion, a P/E ratio of 16.85 and a beta of 1.02.

Darling Ingredients (NYSE:DAR) last posted its quarterly earnings results on Thursday, July 30th. The company reported $2.41 EPS for the quarter, topping the consensus estimate of $1.40 by $1.01. The firm had revenue of $1.72 billion for 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 revenue was up 16.4% compared to the same quarter last year. During the same period last year, the firm posted $0.08 earnings per share. On average, analysts forecast that Darling Ingredients Inc. will post 6.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Darling Ingredients

In related news, EVP Nicholas James Kemphaus sold 1,591 shares of Darling Ingredients stock in a transaction on Monday, August 10th. The shares were sold at an average price of $63.05, for a total value of $100,312.55. Following the transaction, the executive vice president owned 35,087 shares in the company, valued at $2,212,235.35. This trade represents a 4.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles L. Adair purchased 1,000 shares of the stock in a transaction on Friday, July 31st. The stock was acquired at an average cost of $60.97 per share, with a total value of $60,970.00. Following the completion of the purchase, the director directly owned 51,690 shares of the company’s stock, valued at $3,151,539.30. The trade was a 1.97% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 10,591 shares of company stock worth $704,303 in the last quarter. 1.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Jefferies Financial Group boosted their price objective on Darling Ingredients from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Weiss Ratings raised shares of Darling Ingredients from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Wall Street Zen raised shares of Darling Ingredients from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 15th. JPMorgan Chase & Co. boosted their price target on shares of Darling Ingredients from $78.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Finally, Zacks Research raised shares of Darling Ingredients from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

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.