Retirement Systems of Alabama Reduces Stock Position in Darling Ingredients Inc. (NYSE:DAR)

Retirement Systems of Alabama reduced its stake in Darling Ingredients Inc. (NYSE:DAR) by 40.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 193,176 shares of the company’s stock after selling 132,032 shares during the quarter. Retirement Systems of Alabama’s holdings in Darling Ingredients were worth $7,178,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of DAR. GAMMA Investing LLC grew its stake in shares of Darling Ingredients by 173.9% in the 3rd quarter. GAMMA Investing LLC now owns 830 shares of the company’s stock valued at $31,000 after buying an additional 527 shares during the period. Signaturefd LLC grew its position in Darling Ingredients by 75.0% in the 3rd quarter. Signaturefd LLC now owns 901 shares of the company’s stock valued at $33,000 after acquiring an additional 386 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Darling Ingredients by 38.0% in the third quarter. Blue Trust Inc. now owns 1,046 shares of the company’s stock valued at $38,000 after acquiring an additional 288 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Darling Ingredients in the 3rd quarter valued at $58,000. Finally, Farther Finance Advisors LLC raised its position in shares of Darling Ingredients by 69.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,854 shares of the company’s stock worth $69,000 after acquiring an additional 758 shares in the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.

Darling Ingredients Stock Performance

NYSE DAR opened at $35.32 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.89. Darling Ingredients Inc. has a fifty-two week low of $32.67 and a fifty-two week high of $51.12. The business has a fifty day moving average of $38.81 and a 200-day moving average of $37.94. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 21.80 and a beta of 1.19.

Darling Ingredients (NYSE:DAR) last released its earnings results on Thursday, October 24th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.29). Darling Ingredients had a return on equity of 5.98% and a net margin of 4.42%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the firm posted $0.77 earnings per share. The firm’s revenue was down 12.5% on a year-over-year basis. As a group, analysts predict that Darling Ingredients Inc. will post 1.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on DAR shares. JPMorgan Chase & Co. boosted their target price on Darling Ingredients from $58.00 to $59.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. TD Cowen lowered their price objective on shares of Darling Ingredients from $45.00 to $43.00 and set a “hold” rating on the stock in a research report on Friday, September 13th. Jefferies Financial Group upped their target price on shares of Darling Ingredients from $44.00 to $46.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Piper Sandler lowered their price target on Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $53.44.

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.