Firetrail Investments PTY Ltd. Makes New $8.93 Million Investment in Darling Ingredients Inc. $DAR

Firetrail Investments PTY Ltd. acquired a new stake in Darling Ingredients Inc. (NYSE:DAR) during the second quarter, HoldingsChannel.com reports. The fund acquired 164,493 shares of the company’s stock, valued at approximately $8,930,000. Darling Ingredients accounts for about 2.5% of Firetrail Investments PTY Ltd.’s holdings, making the stock its 20th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Simplicity Wealth LLC acquired a new stake in shares of Darling Ingredients in the 2nd quarter valued at $678,000. Global Retirement Partners LLC acquired a new position in shares of Darling Ingredients during the second quarter worth $151,000. Bank of New York Mellon Corp purchased a new position in Darling Ingredients in the second quarter valued at $63,494,000. Private Advisory Group LLC acquired a new stake in Darling Ingredients in the second quarter valued at $1,482,000. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in Darling Ingredients in the second quarter valued at $590,000. 94.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Darling Ingredients

In other Darling Ingredients 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 directly owned 35,087 shares in the company, valued at approximately $2,212,235.35. The trade was a 4.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Patrick Mcnutt sold 8,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $67.09, for a total transaction of $536,720.00. Following the completion of the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is currently owned by company insiders.

Darling Ingredients Stock Performance

Shares of DAR opened at $66.86 on Monday. The company’s 50 day simple moving average is $58.93 and its 200-day simple moving average is $57.60. The firm has a market cap of $10.55 billion, a PE ratio of 18.02 and a beta of 1.02. Darling Ingredients Inc. has a 12-month low of $29.15 and a 12-month high of $67.68. 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 (NYSE:DAR) last released its quarterly earnings results on Thursday, July 30th. The company reported $2.41 EPS for the quarter, beating the consensus estimate of $1.40 by $1.01. The firm had revenue of $1.72 billion during 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%. Darling Ingredients’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 EPS. As a group, equities analysts predict that Darling Ingredients Inc. will post 6.98 EPS for the current year.

Analyst Ratings Changes

DAR has been the subject of several analyst reports. Zacks Research cut Darling Ingredients from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Scotiabank raised their target price on Darling Ingredients from $61.00 to $70.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. TD Cowen boosted their target price on Darling Ingredients from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. 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 report on Monday, May 4th. Finally, Wall Street Zen upgraded shares of Darling Ingredients from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Ten analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.00.

Darling Ingredients 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.