Engineers Gate Manager LP Sells 317,722 Shares of Darling Ingredients Inc. $DAR

Engineers Gate Manager LP reduced its holdings in Darling Ingredients Inc. (NYSE:DAR) by 38.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 499,265 shares of the company’s stock after selling 317,722 shares during the quarter. Engineers Gate Manager LP’s holdings in Darling Ingredients were worth $27,270,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of DAR. Goldman Sachs Group Inc. grew its stake in shares of Darling Ingredients by 17.0% in the first quarter. Goldman Sachs Group Inc. now owns 644,022 shares of the company’s stock worth $20,119,000 after purchasing an additional 93,408 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Darling Ingredients by 10.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,777 shares of the company’s stock worth $18,768,000 after purchasing an additional 58,925 shares during the last quarter. Focus Partners Wealth acquired a new position in Darling Ingredients during the 1st quarter worth about $205,000. M&T Bank Corp lifted its holdings in Darling Ingredients by 11.2% during the 2nd quarter. M&T Bank Corp now owns 8,384 shares of the company’s stock worth $318,000 after buying an additional 847 shares during the period. Finally, Invesco Ltd. grew its position in shares of Darling Ingredients by 5.0% in the 2nd quarter. Invesco Ltd. now owns 677,528 shares of the company’s stock valued at $25,705,000 after buying an additional 32,553 shares during the last quarter. Institutional investors own 94.44% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Joseph Manzi sold 1,000 shares of Darling Ingredients stock in a transaction 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 completion of the sale, the chief accounting officer owned 18,969 shares in the company, valued at $1,276,044.63. The trade was a 5.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Patrick McNutt sold 8,000 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $67.09, for a total transaction of $536,720.00. Following the transaction, the executive vice president owned 35,777 shares in the company, 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 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Darling Ingredients Stock Performance

Shares of Darling Ingredients stock opened at $67.40 on Thursday. The company has a market cap of $10.64 billion, a P/E ratio of 18.17 and a beta of 1.02. 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 business has a 50-day moving average price of $62.75 and a two-hundred day moving average price of $59.78. Darling Ingredients Inc. has a 1-year low of $29.15 and a 1-year high of $69.98.

Darling Ingredients (NYSE:DAR) last announced its 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. Darling Ingredients had a return on equity of 12.98% and a net margin of 9.13%.The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the company earned $0.08 EPS. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. As a group, analysts anticipate that Darling Ingredients Inc. will post 6.98 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on DAR. Wall Street Zen raised Darling Ingredients from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 15th. Zacks Research raised Darling Ingredients from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 19th. Barclays upped their target price on Darling Ingredients from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. TD Cowen raised their price target on shares of Darling Ingredients from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Finally, Weiss Ratings upgraded shares of Darling Ingredients from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $69.00.

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.