Darling Ingredients Inc. (NYSE:DAR) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its position in shares of Darling Ingredients Inc. (NYSE:DAR) by 35.5% during the 2nd quarter, Holdings Channel reports. The firm owned 59,441 shares of the company’s stock after selling 32,659 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Darling Ingredients were worth $2,184,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of DAR. Jennison Associates LLC grew its holdings in Darling Ingredients by 55.0% during the first quarter. Jennison Associates LLC now owns 1,562,739 shares of the company’s stock worth $72,683,000 after acquiring an additional 554,512 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Darling Ingredients by 34.8% in the 1st quarter. BNP Paribas Financial Markets now owns 114,823 shares of the company’s stock worth $5,340,000 after purchasing an additional 29,660 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Darling Ingredients by 15.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,595,089 shares of the company’s stock valued at $79,499,000 after purchasing an additional 213,763 shares during the last quarter. Gates Capital Management Inc. bought a new stake in Darling Ingredients during the fourth quarter worth approximately $88,885,000. Finally, Overbrook Management Corp grew its position in Darling Ingredients by 16.1% in the first quarter. Overbrook Management Corp now owns 247,566 shares of the company’s stock worth $11,514,000 after buying an additional 34,300 shares during the last quarter. Institutional investors own 94.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DAR. Jefferies Financial Group cut their price objective on Darling Ingredients from $53.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Citigroup upgraded shares of Darling Ingredients from a “neutral” rating to a “buy” rating and set a $48.00 target price for the company in a report on Wednesday, June 12th. TD Cowen cut their target price on shares of Darling Ingredients from $45.00 to $43.00 and set a “hold” rating on the stock in a research note on Friday, September 13th. Finally, Scotiabank reduced 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 issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.10.

Darling Ingredients Stock Performance

Shares of DAR opened at $37.10 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.57 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 $56.96. The company’s fifty day moving average is $38.07 and its 200-day moving average is $40.38. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 11.11 and a beta of 1.24.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.10. The company had revenue of $1.46 billion during 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 business’s quarterly revenue was down 17.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.55 earnings per share. Equities analysts expect that Darling Ingredients Inc. will post 2.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Robert W. Day acquired 2,532 shares of Darling Ingredients 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 purchase, the executive vice president now owns 12,607 shares of the company’s stock, valued at $496,337.59. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.62% of the company’s stock.

Darling Ingredients 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.