Freestone Grove Partners LP Invests $885,000 in Darling Ingredients Inc. $DAR

Freestone Grove Partners LP purchased a new position in Darling Ingredients Inc. (NYSE:DAR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 16,197 shares of the company’s stock, valued at approximately $885,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of DAR. SJS Investment Consulting Inc. raised its holdings in shares of 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 purchasing an additional 174 shares during the period. Allworth Financial LP lifted its stake in Darling Ingredients by 227.2% in the fourth quarter. Allworth Financial LP now owns 733 shares of the company’s stock valued at $26,000 after purchasing an additional 509 shares during the last quarter. Cedar Mountain Advisors LLC bought a new position in Darling Ingredients during the first quarter valued at $47,000. Litman Gregory Wealth Management LLC bought a new position in Darling Ingredients during the fourth quarter valued at $29,000. Finally, Danske Bank A S purchased a new stake in Darling Ingredients in the third quarter worth $25,000. 94.44% of the stock is owned by institutional investors.

Darling Ingredients Stock Up 4.8%

Darling Ingredients stock opened at $64.35 on Friday. The firm has a 50 day simple moving average of $60.68 and a 200 day simple moving average of $58.81. The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.73. Darling Ingredients Inc. has a 1-year low of $29.15 and a 1-year high of $69.98. The firm has a market capitalization of $10.15 billion, a price-to-earnings ratio of 17.35 and a beta of 1.02.

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

Insider Buying and Selling

In other Darling Ingredients news, EVP Nicholas James Kemphaus sold 1,591 shares of the firm’s stock in a transaction dated 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 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 this hyperlink. Also, EVP Patrick Mcnutt sold 8,000 shares of Darling Ingredients stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $67.09, for a total value of $536,720.00. Following the transaction, the executive vice president directly owned 35,777 shares of the company’s stock, valued at $2,400,278.93. The trade was a 18.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 10,591 shares of company stock valued at $704,303 in the last ninety days. 1.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on DAR shares. Jefferies Financial Group upped their price target on Darling Ingredients from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. lifted their price objective on Darling Ingredients from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Wall Street Zen raised Darling Ingredients from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 15th. Zacks Research upgraded Darling Ingredients from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 19th. Finally, TD Cowen upped their price objective on shares of Darling Ingredients from $70.00 to $80.00 and gave the company a “buy” rating in a report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

Darling Ingredients Company Profile

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.