Tidal Investments LLC Purchases 36,256 Shares of Darling Ingredients Inc. $DAR

Tidal Investments LLC grew its position in shares of Darling Ingredients Inc. (NYSE:DAR) by 253.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 50,560 shares of the company’s stock after acquiring an additional 36,256 shares during the period. Tidal Investments LLC’s holdings in Darling Ingredients were worth $2,762,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Darling Ingredients during the second quarter valued at approximately $851,450,000. Dimensional Fund Advisors LP raised its holdings in Darling Ingredients by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 8,066,971 shares of the company’s stock worth $498,927,000 after purchasing an additional 47,565 shares in the last quarter. Deutsche Bank AG bought a new position in Darling Ingredients in the second quarter worth $168,348,000. Assenagon Asset Management S.A. lifted its position in Darling Ingredients by 72.9% during the first quarter. Assenagon Asset Management S.A. now owns 2,091,960 shares of the company’s stock valued at $129,388,000 after buying an additional 882,185 shares during the period. Finally, Bank of America Corp DE purchased a new position in Darling Ingredients during the second quarter valued at $129,371,000. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Insider Activity

In other news, CAO Joseph Manzi sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $67.27, for a total value of $67,270.00. Following the transaction, the chief accounting officer owned 18,969 shares in the company, valued at approximately $1,276,044.63. This represents a 5.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Patrick McNutt sold 8,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $67.09, for a total transaction of $536,720.00. Following the sale, the executive vice president owned 35,777 shares in the company, valued at approximately $2,400,278.93. The trade was a 18.27% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 10,591 shares of company stock worth $704,303. Corporate insiders own 1.90% of the company’s stock.

Darling Ingredients Trading Up 2.5%

NYSE DAR opened at $66.53 on Wednesday. Darling Ingredients Inc. has a 12 month low of $29.15 and a 12 month high of $69.98. The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.73. The stock’s fifty day moving average price is $63.43 and its 200-day moving average price is $60.16. The stock has a market cap of $10.50 billion, a P/E ratio of 17.93 and a beta of 1.02.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings results on Thursday, July 30th. The company reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $1.01. Darling Ingredients had a net margin of 9.13% and a return on equity of 12.98%. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the business posted $0.08 EPS. Darling Ingredients’s revenue was up 16.4% compared to the same quarter last year. As a group, equities analysts forecast that Darling Ingredients Inc. will post 6.98 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of Darling Ingredients from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. Weiss Ratings raised shares of Darling Ingredients from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. TD Cowen boosted their price objective on shares of Darling Ingredients from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Zacks Research upgraded shares of Darling Ingredients from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 19th. Finally, Barclays raised their target price on shares of Darling Ingredients from $62.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Darling Ingredients currently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

About Darling Ingredients

Darling Ingredients Inc is a global developer and producer of sustainable ingredients derived from animal by-products, used cooking oil, food waste and other organic materials. The company collects and processes these materials into products used in animal feed, pet food, agriculture, food, fuel and industrial applications.

Its product portfolio includes protein meals, animal fats, feed-grade ingredients, fertilizer nutrients, gelatin and collagen products, and specialty ingredients. Darling also produces renewable diesel and other low-carbon fuels through its Diamond Green Diesel joint venture with Valero Energy, which converts waste fats, oils and greases into renewable fuels.

Founded in 1882, Darling Ingredients serves customers through operations spanning North America, South America, Europe, Asia and Australia.