Darling Ingredients Inc. (NYSE:DAR) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its position in Darling Ingredients Inc. (NYSE:DAR) by 7.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,560 shares of the company’s stock after purchasing an additional 1,250 shares during the period. State of Alaska Department of Revenue’s holdings in Darling Ingredients were worth $689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in DAR. Dimensional Fund Advisors LP raised its position in Darling Ingredients by 52.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,236,616 shares of the company’s stock worth $192,445,000 after acquiring an additional 1,800,809 shares during the period. Earnest Partners LLC raised its position in Darling Ingredients by 14.0% during the second quarter. Earnest Partners LLC now owns 3,829,265 shares of the company’s stock worth $140,725,000 after acquiring an additional 470,170 shares during the period. Canada Pension Plan Investment Board acquired a new position in Darling Ingredients during the second quarter worth $15,406,000. Toronto Dominion Bank raised its position in Darling Ingredients by 942.1% during the first quarter. Toronto Dominion Bank now owns 392,165 shares of the company’s stock worth $18,240,000 after acquiring an additional 354,532 shares during the period. Finally, Swedbank AB acquired a new position in Darling Ingredients during the first quarter worth $14,676,000. 94.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Darling Ingredients Stock Down 1.6 %

Shares of NYSE DAR opened at $39.38 on Thursday. The stock has a market cap of $6.26 billion, a P/E ratio of 24.31 and a beta of 1.23. The company has a current ratio of 1.57, a quick ratio of 0.91 and a debt-to-equity ratio of 0.95. Darling Ingredients Inc. has a 12-month low of $32.67 and a 12-month high of $51.36. The business’s fifty day simple moving average is $37.52 and its 200-day simple moving average is $38.71.

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