Central Pacific Bank Trust Division Increases Stock Holdings in Darling Ingredients Inc. (NYSE:DAR)

Central Pacific Bank Trust Division boosted its position in shares of Darling Ingredients Inc. (NYSE:DAR) by 9.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,684 shares of the company’s stock after acquiring an additional 815 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Darling Ingredients were worth $360,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rise Advisors LLC purchased a new position in Darling Ingredients during the 1st quarter valued at about $25,000. Riverview Trust Co acquired a new stake in Darling Ingredients in the 1st quarter valued at about $55,000. Quarry LP raised its position in Darling Ingredients by 893.8% in the 2nd quarter. Quarry LP now owns 2,584 shares of the company’s stock valued at $95,000 after purchasing an additional 2,324 shares in the last quarter. Parallel Advisors LLC raised its position in 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 purchasing an additional 389 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its position in Darling Ingredients by 56.9% in the 4th quarter. V Square Quantitative Management LLC now owns 1,997 shares of the company’s stock valued at $100,000 after purchasing an additional 724 shares in the last quarter. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. TD Cowen reduced their price target on Darling Ingredients from $45.00 to $43.00 and set a “hold” rating on the stock in a research report on Friday, September 13th. Scotiabank reduced their price target on Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Citigroup raised Darling Ingredients from a “neutral” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Wednesday, June 12th. Finally, Jefferies Financial Group reduced their price target on Darling Ingredients from $53.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.10.

Insiders Place Their Bets

In other news, EVP Robert W. Day purchased 2,532 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were bought at an average price of $39.37 per share, with a total value 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 approximately $496,337.59. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.62% of the stock is currently owned by corporate insiders.

Darling Ingredients Price Performance

Shares of NYSE DAR opened at $36.09 on Friday. The firm has a market capitalization of $5.77 billion, a PE ratio of 10.81 and a beta of 1.24. Darling Ingredients Inc. has a fifty-two week low of $32.67 and a fifty-two week high of $51.36. The stock’s 50-day simple moving average is $37.86 and its 200-day simple moving average is $39.89. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.91 and a current ratio of 1.57.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.39 by $0.10. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. Darling Ingredients had a return on equity of 8.38% and a net margin of 6.04%. The firm’s revenue was down 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.55 earnings per share. As a group, equities research analysts forecast that Darling Ingredients Inc. will post 2.45 EPS for the current fiscal year.

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.