Peregrine Capital Management LLC Has $5.01 Million Stock Position in Darling Ingredients Inc (NYSE:DAR)

Peregrine Capital Management LLC grew its position in Darling Ingredients Inc (NYSE:DAR) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 203,486 shares of the company’s stock after purchasing an additional 2,920 shares during the period. Peregrine Capital Management LLC owned about 0.13% of Darling Ingredients worth $5,010,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DAR. Copper Rock Capital Partners LLC raised its holdings in Darling Ingredients by 4,263.0% in the 2nd quarter. Copper Rock Capital Partners LLC now owns 28,979,183 shares of the company’s stock valued at $627,079,000 after acquiring an additional 28,314,976 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in Darling Ingredients by 168.2% during the first quarter. Handelsbanken Fonder AB now owns 3,745,089 shares of the company’s stock worth $71,793,000 after acquiring an additional 2,348,733 shares in the last quarter. Norges Bank bought a new position in Darling Ingredients during the fourth quarter worth about $56,100,000. AJO LP bought a new position in Darling Ingredients during the first quarter worth about $18,513,000. Finally, Impax Asset Management Group plc lifted its holdings in Darling Ingredients by 15.3% during the first quarter. Impax Asset Management Group plc now owns 5,093,134 shares of the company’s stock worth $97,099,000 after acquiring an additional 674,720 shares in the last quarter. Institutional investors own 95.58% of the company’s stock.

DAR opened at $27.93 on Friday. The business’s 50-day moving average price is $24.94 and its two-hundred day moving average price is $23.75. Darling Ingredients Inc has a 1 year low of $10.25 and a 1 year high of $29.57. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of 12.36 and a beta of 1.26. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.43 and a quick ratio of 0.84.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.09. The firm had revenue of $852.84 million for the quarter, compared to the consensus estimate of $851.13 million. Darling Ingredients had a return on equity of 11.70% and a net margin of 11.24%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $0.11 EPS. Sell-side analysts anticipate that Darling Ingredients Inc will post 1.69 earnings per share for the current fiscal year.

Several research firms have weighed in on DAR. JPMorgan Chase & Co. lifted their target price on Darling Ingredients from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Berenberg Bank initiated coverage on Darling Ingredients in a research note on Thursday, July 16th. They issued a “buy” rating and a $33.00 price target on the stock. ValuEngine downgraded Darling Ingredients from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 2nd. Finally, Zacks Investment Research downgraded Darling Ingredients from a “hold” rating to a “sell” rating in a research note on Friday, May 8th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $30.00.

Darling Ingredients Company Profile

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 a range of ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.

Further Reading: FinTech

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Institutional Ownership by Quarter for Darling Ingredients (NYSE:DAR)

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