New Mexico Educational Retirement Board lessened its stake in Darling Ingredients Inc. (NYSE:DAR – Get Rating) by 24.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 25,400 shares of the company's stock after selling 8,300 shares during the quarter. New Mexico Educational Retirement Board's holdings in Darling Ingredients were worth $1,519,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp boosted its stake in shares of Darling Ingredients by 4.8% in the 1st quarter. State Street Corp now owns 4,555,458 shares of the company's stock valued at $366,168,000 after buying an additional 208,659 shares during the period. Marshall Wace LLP raised its position in shares of Darling Ingredients by 1,257.1% during the 4th quarter. Marshall Wace LLP now owns 4,126,968 shares of the company's stock worth $285,958,000 after acquiring an additional 3,822,875 shares in the last quarter. Artemis Investment Management LLP raised its position in shares of Darling Ingredients by 25.8% during the 1st quarter. Artemis Investment Management LLP now owns 2,496,559 shares of the company's stock worth $200,392,000 after acquiring an additional 511,366 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Darling Ingredients by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,576,918 shares of the company's stock worth $126,753,000 after acquiring an additional 35,231 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Darling Ingredients by 11.5% during the 1st quarter. Bank of America Corp DE now owns 1,204,494 shares of the company's stock worth $96,818,000 after acquiring an additional 124,709 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.
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Analysts Set New Price Targets
Several brokerages have recently weighed in on DAR. Robert W. Baird raised their target price on Darling Ingredients from $100.00 to $109.00 in a research report on Thursday, August 11th. Raymond James raised their target price on Darling Ingredients from $100.00 to $105.00 and gave the stock a "strong-buy" rating in a research report on Thursday, August 11th. Cowen cut their price target on Darling Ingredients to $75.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 27th. Stifel Nicolaus began coverage on Darling Ingredients in a research report on Monday, September 12th. They set a "buy" rating and a $101.00 price target on the stock. Finally, Scotiabank began coverage on Darling Ingredients in a research report on Thursday, September 8th. They set a "sector outperform" rating and a $101.00 price target on the stock. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Darling Ingredients currently has an average rating of "Moderate Buy" and an average target price of $98.22.
Darling Ingredients Trading Down 0.3 %
NYSE:DAR opened at $66.15 on Monday. The firm has a market cap of $10.61 billion, a P/E ratio of 15.79 and a beta of 1.20. The company has a current ratio of 1.59, a quick ratio of 0.96 and a debt-to-equity ratio of 0.81. The stock's 50 day simple moving average is $72.97 and its 200-day simple moving average is $73.26. Darling Ingredients Inc. has a 12-month low of $55.71 and a 12-month high of $87.59.
Darling Ingredients (NYSE:DAR – Get Rating) last released its earnings results on Tuesday, August 9th. The company reported $1.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.32 by ($0.09). The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.48 billion. Darling Ingredients had a net margin of 12.56% and a return on equity of 20.34%. The company's revenue for the quarter was up 37.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.17 EPS. Equities analysts anticipate that Darling Ingredients Inc. will post 5.34 EPS for the current year.
Darling Ingredients Profile
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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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