Private Management Group Inc. Sells 170,826 Shares of Darling Ingredients Inc. $DAR

Private Management Group Inc. trimmed its position in Darling Ingredients Inc. (NYSE:DAR) by 19.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 697,854 shares of the company’s stock after selling 170,826 shares during the period. Darling Ingredients makes up about 1.0% of Private Management Group Inc.’s holdings, making the stock its 25th largest holding. Private Management Group Inc.’s holdings in Darling Ingredients were worth $38,117,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Danske Bank A S acquired a new position in Darling Ingredients in the 3rd quarter valued at $25,000. Allworth Financial LP lifted its position in Darling Ingredients by 227.2% during the 4th quarter. Allworth Financial LP now owns 733 shares of the company’s stock worth $26,000 after acquiring an additional 509 shares during the last quarter. SJS Investment Consulting Inc. lifted its position in Darling Ingredients by 69.9% during 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 bought a new stake in Darling Ingredients during the fourth quarter valued at about $29,000. Finally, Leonteq Securities AG bought a new stake in Darling Ingredients during the fourth quarter valued at about $35,000. 94.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

DAR has been the topic of a number of recent analyst reports. Weiss Ratings upgraded Darling Ingredients from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. TD Cowen increased their target price on Darling Ingredients from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Wall Street Zen raised Darling Ingredients from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 15th. JPMorgan Chase & Co. lifted their price target on Darling Ingredients from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Finally, Zacks Research upgraded Darling Ingredients from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.00.

Darling Ingredients Stock Performance

DAR opened at $64.35 on Friday. The stock’s 50 day simple moving average is $60.68 and its 200-day simple moving average is $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. The stock has a market cap of $10.15 billion, a PE ratio of 17.35 and a beta of 1.02. Darling Ingredients Inc. has a 1 year low of $29.15 and a 1 year high of $69.98.

Darling Ingredients (NYSE:DAR) last issued its 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. 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 during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the business earned $0.08 earnings per share. Darling Ingredients’s quarterly revenue was up 16.4% compared to the same quarter last year. Sell-side analysts forecast that Darling Ingredients Inc. will post 6.98 EPS for the current year.

Insider Buying and Selling at Darling Ingredients

In other news, EVP Patrick Mcnutt sold 8,000 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $67.09, for a total value of $536,720.00. Following the completion of the transaction, the executive vice president owned 35,777 shares in the company, valued at approximately $2,400,278.93. This represents a 18.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles L. Adair acquired 1,000 shares of Darling Ingredients stock in a transaction dated Friday, July 31st. The shares were acquired at an average cost of $60.97 per share, with a total value of $60,970.00. Following the completion of the acquisition, the director directly owned 51,690 shares in the company, valued at $3,151,539.30. This trade represents a 1.97% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders sold 10,591 shares of company stock worth $704,303. Corporate insiders own 1.90% of the company’s stock.

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.