Orion Capital Management LLC decreased its position in Darling Ingredients Inc. (NYSE:DAR – Get Rating) by 8.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,330 shares of the company's stock after selling 1,000 shares during the period. Orion Capital Management LLC's holdings in Darling Ingredients were worth $618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DAR. State Street Corp raised its stake in Darling Ingredients by 1.3% in the 4th quarter. State Street Corp now owns 4,346,799 shares of the company's stock worth $301,190,000 after acquiring an additional 54,726 shares during the last quarter. Bridgewater Associates LP purchased a new position in shares of Darling Ingredients during the 4th quarter valued at about $1,046,000. Commerce Bank raised its stake in shares of Darling Ingredients by 26.2% during the 4th quarter. Commerce Bank now owns 6,806 shares of the company's stock valued at $471,000 after buying an additional 1,411 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Darling Ingredients during the 4th quarter valued at about $138,000. Finally, PDT Partners LLC purchased a new position in shares of Darling Ingredients during the 4th quarter valued at about $656,000. Hedge funds and other institutional investors own 91.43% of the company's stock.
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Analysts Set New Price Targets
DAR has been the subject of a number of recent research reports. Scotiabank assumed coverage on Darling Ingredients in a research note on Thursday, September 8th. They set a "sector outperform" rating and a $101.00 price objective for the company. Raymond James lifted their price objective on Darling Ingredients from $100.00 to $105.00 and gave the stock a "strong-buy" rating in a report on Thursday, August 11th. Robert W. Baird lifted their price objective on Darling Ingredients from $100.00 to $109.00 in a report on Thursday, August 11th. Stifel Nicolaus initiated coverage on Darling Ingredients in a report on Monday, September 12th. They issued a "buy" rating and a $101.00 price objective on the stock. Finally, Piper Sandler lifted their price objective on Darling Ingredients from $98.00 to $103.00 and gave the stock an "overweight" rating in a report on Wednesday, August 24th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Darling Ingredients currently has a consensus rating of "Moderate Buy" and an average target price of $98.22.
Darling Ingredients Trading Down 0.3 %
NYSE DAR traded down $0.21 on Friday, reaching $66.15. The stock had a trading volume of 1,606,250 shares, compared to its average volume of 1,091,193. The firm has a market capitalization of $10.61 billion, a price-to-earnings ratio of 15.79 and a beta of 1.20. The company has a quick ratio of 0.96, a current ratio of 1.59 and a debt-to-equity ratio of 0.81. Darling Ingredients Inc. has a 12-month low of $55.71 and a 12-month high of $87.59. The stock has a fifty day moving average price of $72.97 and a two-hundred day moving average price of $73.27.
Darling Ingredients (NYSE:DAR – Get Rating) last announced its earnings results on Tuesday, August 9th. The company reported $1.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.35 by ($0.12). The firm had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.48 billion. Darling Ingredients had a net margin of 12.56% and a return on equity of 20.34%. The firm's revenue for the quarter was up 37.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.17 EPS. As a group, sell-side analysts forecast that Darling Ingredients Inc. will post 5.34 EPS for the current fiscal year.
About Darling Ingredients
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Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients. 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.
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