New York State Common Retirement Fund Sells 346,874 Shares of Darling Ingredients Inc. (NYSE:DAR)

New York State Common Retirement Fund cut its holdings in Darling Ingredients Inc. (NYSE:DAR) by 39.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 538,808 shares of the company’s stock after selling 346,874 shares during the period. New York State Common Retirement Fund’s holdings in Darling Ingredients were worth $20,022,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in DAR. GAMMA Investing LLC increased its holdings in shares of Darling Ingredients by 173.9% in the 3rd quarter. GAMMA Investing LLC now owns 830 shares of the company’s stock worth $31,000 after buying an additional 527 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Darling Ingredients by 75.0% in the 3rd quarter. Signaturefd LLC now owns 901 shares of the company’s stock worth $33,000 after buying an additional 386 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Darling Ingredients by 38.0% in the 3rd quarter. Blue Trust Inc. now owns 1,046 shares of the company’s stock worth $38,000 after buying an additional 288 shares during the last quarter. Quarry LP increased its holdings in shares of Darling Ingredients by 893.8% in the 2nd quarter. Quarry LP now owns 2,584 shares of the company’s stock worth $95,000 after buying an additional 2,324 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in shares of Darling Ingredients in the 2nd quarter worth about $140,000. 94.44% of the stock is currently owned by institutional investors.

Darling Ingredients Price Performance

Darling Ingredients stock opened at $39.80 on Tuesday. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 24.57 and a beta of 1.23. 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 Inc. has a 1 year low of $32.67 and a 1 year high of $51.36. The firm has a 50-day moving average of $37.59 and a two-hundred day moving average of $38.73.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.29). Darling Ingredients had a return on equity of 5.98% and a net margin of 4.42%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the company posted $0.77 EPS. Darling Ingredients’s revenue for the quarter was down 12.5% on a year-over-year basis. On average, research analysts forecast that Darling Ingredients Inc. will post 1.89 earnings per share for the current year.

Analyst Ratings Changes

DAR has been the subject of a number of recent analyst reports. Jefferies Financial Group lifted their price target on shares of Darling Ingredients from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Scotiabank dropped 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 note on Friday, July 12th. Piper Sandler dropped their price target on shares of Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. TD Cowen dropped their price target on shares of Darling Ingredients from $45.00 to $43.00 and set a “hold” rating for the company in a research note on Friday, September 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Darling Ingredients from $58.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $55.60.

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.