State of New Jersey Common Pension Fund D Grows Stock Holdings in Darling Ingredients Inc. $DAR

State of New Jersey Common Pension Fund D raised its position in Darling Ingredients Inc. (NYSE:DAR) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,396 shares of the company’s stock after acquiring an additional 1,413 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Darling Ingredients were worth $2,253,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. AlphaQuest LLC increased its position in shares of Darling Ingredients by 11.6% in the second quarter. AlphaQuest LLC now owns 5,310 shares of the company’s stock valued at $201,000 after acquiring an additional 550 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Darling Ingredients by 84.1% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 56,126 shares of the company’s stock valued at $2,129,000 after acquiring an additional 25,636 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Darling Ingredients by 21.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 103,814 shares of the company’s stock valued at $3,962,000 after acquiring an additional 18,187 shares during the period. Koshinski Asset Management Inc. purchased a new position in shares of Darling Ingredients in the second quarter valued at about $287,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of Darling Ingredients in the second quarter valued at about $261,000. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Analyst Upgrades and Downgrades

DAR has been the topic of a number of analyst reports. Robert W. Baird restated a “neutral” rating and issued a $36.00 price objective (down previously from $40.00) on shares of Darling Ingredients in a research report on Friday, July 25th. Bank of America assumed coverage on shares of Darling Ingredients in a research note on Wednesday, October 8th. They set a “buy” rating and a $45.00 target price on the stock. Piper Sandler cut their target price on shares of Darling Ingredients from $50.00 to $49.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. Baird R W lowered shares of Darling Ingredients from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. Finally, UBS Group reaffirmed a “buy” rating and set a $58.00 target price on shares of Darling Ingredients in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Darling Ingredients presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

Insider Activity

In other news, CEO Randall C. Stuewe sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $30.92, for a total value of $1,082,200.00. Following the transaction, the chief executive officer owned 781,437 shares in the company, 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 filing with the SEC, which is accessible through this link. Corporate insiders own 2.07% of the company’s stock.

Darling Ingredients Trading Down 1.9%

NYSE:DAR opened at $33.81 on Wednesday. Darling Ingredients Inc. has a one year low of $26.00 and a one year high of $43.49. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.50 and a quick ratio of 0.89. The company’s 50-day simple moving average is $32.19 and its 200 day simple moving average is $33.21. The firm has a market capitalization of $5.35 billion, a P/E ratio of 50.47, a PEG ratio of 2.26 and a beta of 1.22.

Darling Ingredients (NYSE:DAR) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). Darling Ingredients had a return on equity of 2.41% and a net margin of 1.84%.The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm earned $0.11 EPS. The company’s revenue was up 10.0% on a year-over-year basis. As a group, analysts forecast that Darling Ingredients Inc. will post 2.81 EPS for the current fiscal year.

Darling Ingredients Company Profile

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.