Canada Pension Plan Investment Board Purchases Shares of 419,200 Darling Ingredients Inc. (NYSE:DAR)

Canada Pension Plan Investment Board acquired a new position in Darling Ingredients Inc. (NYSE:DAR) during the second quarter, HoldingsChannel reports. The institutional investor acquired 419,200 shares of the company’s stock, valued at approximately $15,406,000.

Several other hedge funds have also recently made changes to their positions in the business. Caprock Group LLC boosted its holdings in Darling Ingredients by 4.3% in the first quarter. Caprock Group LLC now owns 6,691 shares of the company’s stock valued at $311,000 after acquiring an additional 277 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Darling Ingredients by 1.5% during the fourth 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. raised its stake in Darling Ingredients by 9.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 4,290 shares of the company’s stock worth $214,000 after buying an additional 371 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Darling Ingredients by 24.7% in the fourth quarter. Parallel Advisors LLC now owns 1,966 shares of the company’s stock worth $98,000 after buying an additional 389 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in Darling Ingredients by 1,412.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 499 shares of the company’s stock valued at $25,000 after acquiring an additional 466 shares in the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.

Darling Ingredients Stock Down 0.4 %

Shares of Darling Ingredients stock opened at $36.60 on Tuesday. The company has a 50-day simple moving average of $38.03 and a two-hundred day simple moving average of $40.25. Darling Ingredients Inc. has a 52-week low of $32.67 and a 52-week high of $55.20. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.91 and a current ratio of 1.57. The stock has a market capitalization of $5.85 billion, a PE ratio of 10.96 and a beta of 1.24.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.10. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Darling Ingredients had a return on equity of 8.38% and a net margin of 6.04%. The firm’s quarterly revenue was down 17.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.55 EPS. On average, analysts anticipate that Darling Ingredients Inc. will post 2.47 EPS for the current fiscal year.

Analysts Set New Price Targets

DAR has been the subject of a number of research analyst reports. Citigroup upgraded Darling Ingredients from a “neutral” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Wednesday, June 12th. TD Cowen lowered their price objective on Darling Ingredients from $45.00 to $43.00 and set a “hold” rating for the company in a research report on Friday, September 13th. Jefferies Financial Group reduced their target price on shares of Darling Ingredients from $53.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Finally, Scotiabank lowered their price target on shares of Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. One equities 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.10.

Insider Buying and Selling

In related news, EVP Robert W. Day acquired 2,532 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were bought at an average price 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 in the company, valued at $496,337.59. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.62% of the stock is owned by corporate insiders.

About Darling Ingredients

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.