Texas Permanent School Fund Corp Boosts Stock Position in Darling Ingredients Inc. (NYSE:DAR)

Texas Permanent School Fund Corp grew its stake in Darling Ingredients Inc. (NYSE:DAR) by 8.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 151,765 shares of the company’s stock after purchasing an additional 12,249 shares during the period. Texas Permanent School Fund Corp’s holdings in Darling Ingredients were worth $5,577,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Caprock Group LLC lifted its holdings in shares of Darling Ingredients by 4.3% in the 1st quarter. Caprock Group LLC now owns 6,691 shares of the company’s stock valued at $311,000 after buying an additional 277 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Darling Ingredients by 1.5% in the 4th quarter. Fisher Asset Management LLC now owns 23,494 shares of the company’s stock valued at $1,171,000 after buying an additional 341 shares during the period. Avantax Advisory Services Inc. lifted its holdings in shares of Darling Ingredients by 9.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 4,290 shares of the company’s stock valued at $214,000 after buying an additional 371 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Darling Ingredients by 24.7% in the 4th quarter. Parallel Advisors LLC now owns 1,966 shares of the company’s stock valued at $98,000 after buying an additional 389 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Darling Ingredients by 1,412.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 499 shares of the company’s stock valued at $25,000 after buying an additional 466 shares during the period. Institutional investors and hedge funds own 94.44% of the company’s stock.

Darling Ingredients Price Performance

Shares of Darling Ingredients stock opened at $34.22 on Friday. The business has a 50 day simple moving average of $38.21 and a two-hundred day simple moving average of $40.65. Darling Ingredients Inc. has a 12 month low of $32.67 and a 12 month high of $61.25. The stock has a market capitalization of $5.47 billion, a P/E ratio of 10.25 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.57 and a quick ratio of 0.91.

Darling Ingredients (NYSE:DAR) last announced its earnings results on Thursday, July 25th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.10. Darling Ingredients had a return on equity of 8.38% and a net margin of 6.04%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the firm earned $1.55 earnings per share. The business’s revenue was down 17.2% compared to the same quarter last year. As a group, analysts predict that Darling Ingredients Inc. will post 2.47 EPS for the current fiscal year.

Analyst Ratings Changes

DAR has been the subject of several analyst reports. Scotiabank decreased their price objective on Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Stifel Nicolaus reduced their price target on Darling Ingredients from $90.00 to $85.00 and set a “buy” rating for the company in a report on Monday, May 20th. Citigroup raised Darling Ingredients from a “neutral” rating to a “buy” rating and set a $48.00 price target for the company in a report on Wednesday, June 12th. Jefferies Financial Group reduced their price target on Darling Ingredients from $53.00 to $47.00 and set a “buy” rating for the company in a report on Friday, July 26th. Finally, TD Cowen reduced their price target on Darling Ingredients from $51.00 to $45.00 and set a “hold” rating for the company in a report on Thursday, June 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.30.

Insider Activity

In related news, EVP Robert W. Day purchased 2,532 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was acquired at an average cost of $39.37 per share, for a total transaction of $99,684.84. Following the completion of the transaction, the executive vice president now directly owns 12,607 shares of the company’s stock, valued at $496,337.59. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.62% of the company’s stock.

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.