Edgestream Partners L.P. Makes New $3.68 Million Investment in Darling Ingredients Inc. (NYSE:DAR)

Edgestream Partners L.P. purchased a new position in Darling Ingredients Inc. (NYSE:DAR) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 54,554 shares of the company’s stock, valued at approximately $3,682,000.

Other hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Darling Ingredients by 1,914.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,969,017 shares of the company’s stock valued at $512,780,000 after purchasing an additional 6,623,077 shares in the last quarter. Artemis Investment Management LLP boosted its stake in shares of Darling Ingredients by 212.6% in the 2nd quarter. Artemis Investment Management LLP now owns 1,092,300 shares of the company’s stock valued at $73,812,000 after purchasing an additional 742,895 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Darling Ingredients by 65.2% in the 1st quarter. JPMorgan Chase & Co. now owns 1,397,876 shares of the company’s stock valued at $102,856,000 after purchasing an additional 551,547 shares in the last quarter. Amundi Asset Management US Inc. boosted its stake in shares of Darling Ingredients by 46.7% in the 1st quarter. Amundi Asset Management US Inc. now owns 1,707,162 shares of the company’s stock valued at $125,613,000 after purchasing an additional 543,462 shares in the last quarter. Finally, Parsifal Capital Management LP boosted its stake in shares of Darling Ingredients by 91.5% in the 1st quarter. Parsifal Capital Management LP now owns 1,075,216 shares of the company’s stock valued at $79,114,000 after purchasing an additional 513,798 shares in the last quarter. 92.20% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Randall C. Stuewe sold 70,000 shares of the company’s stock in a transaction dated Thursday, August 12th. The shares were sold at an average price of $76.09, for a total value of $5,326,300.00. Following the transaction, the chief executive officer now owns 652,773 shares in the company, valued at approximately $49,669,497.57. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John F. Sterling sold 10,000 shares of Darling Ingredients stock in a transaction dated Thursday, August 12th. The stock was sold at an average price of $76.51, for a total transaction of $765,100.00. Following the completion of the transaction, the executive vice president now directly owns 275,703 shares of the company’s stock, valued at $21,094,036.53. The disclosure for this sale can be found here. 2.52% of the stock is currently owned by insiders.

Several equities research analysts have weighed in on the stock. Citigroup began coverage on shares of Darling Ingredients in a research report on Wednesday, June 9th. They set a “buy” rating for the company. Credit Suisse Group increased their target price on shares of Darling Ingredients from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, August 12th. Stephens increased their target price on shares of Darling Ingredients from $86.00 to $89.00 and gave the stock an “overweight” rating in a report on Thursday, August 12th. Zacks Investment Research upgraded shares of Darling Ingredients from a “hold” rating to a “strong-buy” rating and set a $86.00 target price for the company in a report on Monday, September 6th. Finally, Robert W. Baird increased their target price on shares of Darling Ingredients from $89.00 to $109.00 and gave the stock an “outperform” rating in a report on Thursday, August 12th. Thirteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $87.77.

Shares of DAR opened at $74.02 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 0.86. Darling Ingredients Inc. has a one year low of $31.45 and a one year high of $79.65. The company has a 50-day simple moving average of $71.34 and a two-hundred day simple moving average of $71.02. The firm has a market capitalization of $12.00 billion, a PE ratio of 25.09 and a beta of 1.04.

Darling Ingredients (NYSE:DAR) last announced its earnings results on Monday, August 9th. The company reported $1.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.35. Darling Ingredients had a net margin of 12.01% and a return on equity of 17.49%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the firm earned $0.39 earnings per share. The business’s revenue for the quarter was up 41.2% on a year-over-year basis. Analysts expect that Darling Ingredients Inc. will post 3.75 EPS for the current fiscal year.

Darling Ingredients Profile

Darling Ingredients, Inc engages in the development and production of natural ingredients from edible and inedible bio-nutrients. It operates through the following segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. The Feed Ingredients segment includes ingredients business such as fats and proteins used cooking oil, trap grease and food residuals collection, the Rothsay ingredients, and the ingredients and specialty products.

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

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