135,304 Darling Ingredients Inc. $DAR Shares Sold by CenterBook Partners LP

CenterBook Partners LP decreased its position in shares of Darling Ingredients Inc. (NYSE:DAR) by 73.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 48,915 shares of the company’s stock after selling 135,304 shares during the quarter. CenterBook Partners LP’s holdings in Darling Ingredients were worth $2,970,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Darling Ingredients in the second quarter valued at about $851,450,000. Dimensional Fund Advisors LP lifted its stake in Darling Ingredients by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 8,066,971 shares of the company’s stock worth $498,927,000 after acquiring an additional 47,565 shares during the period. Deutsche Bank AG bought a new position in Darling Ingredients during the 2nd quarter worth about $168,348,000. Bank of America Corp DE bought a new position in Darling Ingredients during the 2nd quarter worth about $129,371,000. Finally, Assenagon Asset Management S.A. grew its holdings in Darling Ingredients by 5.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,212,634 shares of the company’s stock worth $120,854,000 after acquiring an additional 120,674 shares in the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Insider Transactions at Darling Ingredients

In other news, CAO Joseph Manzi sold 1,000 shares of Darling Ingredients stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $67.27, for a total value of $67,270.00. Following the transaction, the chief accounting officer owned 18,969 shares of the company’s stock, valued at $1,276,044.63. The trade was a 5.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nicholas Kemphaus sold 1,591 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $63.05, for a total transaction of $100,312.55. Following the transaction, the executive vice president owned 35,087 shares of the company’s stock, valued at approximately $2,212,235.35. This trade represents a 4.34% 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 90 days. Insiders own 1.90% of the company’s stock.

Darling Ingredients Price Performance

Shares of DAR stock opened at $50.22 on Friday. The stock’s 50-day moving average is $61.04 and its 200 day moving average is $58.50. Darling Ingredients Inc. has a 1-year low of $31.65 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 company has a market cap of $7.92 billion, a P/E ratio of 9.55 and a beta of 1.00.

Darling Ingredients (NYSE:DAR) last announced its earnings results on Wednesday, October 28th. The company reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.03). The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.79 billion. Darling Ingredients had a return on equity of 17.76% and a net margin of 12.48%. During the same quarter in the prior year, the firm posted $0.12 earnings per share. Research analysts predict that Darling Ingredients Inc. will post 6.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DAR has been the subject of several recent research reports. UBS Group boosted their price target on shares of Darling Ingredients from $78.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, September 22nd. JPMorgan Chase & Co. increased their price objective on shares of Darling Ingredients from $82.00 to $83.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. Zacks Research lowered shares of Darling Ingredients from a “strong-buy” rating to a “hold” rating in a report on Friday, September 18th. TD Cowen boosted their price objective on shares of Darling Ingredients from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Finally, Weiss Ratings upgraded Darling Ingredients from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.80.

About Darling Ingredients

Darling Ingredients Inc collects and transforms animal by-products and other organic materials into ingredients and products used in food, animal feed, fuel and other markets. Its operations help convert materials from meat processing, food production and used cooking oils into usable fats, proteins, oils and other ingredients.

The company’s businesses span feed ingredients, food ingredients and fuel ingredients. Products include animal nutrition ingredients, gelatin and collagen, and fats and oils used in food and industrial applications.