Darling Ingredients Inc (NYSE:DAR) Stake Lowered by State of Tennessee Treasury Department

State of Tennessee Treasury Department lowered its holdings in Darling Ingredients Inc (NYSE:DAR) by 5.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,778 shares of the company’s stock after selling 9,214 shares during the period. State of Tennessee Treasury Department owned approximately 0.09% of Darling Ingredients worth $2,554,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Malaga Cove Capital LLC bought a new position in shares of Darling Ingredients in the 2nd quarter worth about $167,000. Integrated Investment Consultants LLC bought a new position in shares of Darling Ingredients in the 3rd quarter worth about $168,000. World Asset Management Inc lifted its position in shares of Darling Ingredients by 2.3% in the 2nd quarter. World Asset Management Inc now owns 10,711 shares of the company’s stock worth $169,000 after buying an additional 237 shares during the last quarter. Harrington Investments INC acquired a new stake in shares of Darling Ingredients in the 3rd quarter worth about $185,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Darling Ingredients by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 11,835 shares of the company’s stock worth $186,000 after acquiring an additional 1,774 shares during the period. 98.06% of the stock is owned by institutional investors and hedge funds.

Darling Ingredients Inc (NYSE:DAR) traded up $0.15 during midday trading on Monday, reaching $18.29. 1,936,923 shares of the company’s stock were exchanged, compared to its average volume of 1,180,803. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.76 and a quick ratio of 1.07. The firm has a market capitalization of $2,987.33, a PE ratio of 46.51 and a beta of 1.53. Darling Ingredients Inc has a 1 year low of $11.51 and a 1 year high of $18.65.

Darling Ingredients (NYSE:DAR) last posted its earnings results on Tuesday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). The business had revenue of $937.70 million during the quarter, compared to analyst estimates of $870.50 million. Darling Ingredients had a net margin of 1.76% and a return on equity of 2.96%. Darling Ingredients’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 earnings per share. analysts expect that Darling Ingredients Inc will post 0.24 EPS for the current fiscal year.

Several equities analysts have commented on the stock. Robert W. Baird reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Darling Ingredients in a research note on Tuesday, September 26th. Canaccord Genuity reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Darling Ingredients in a research note on Monday, September 25th. J P Morgan Chase & Co cut shares of Darling Ingredients from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $19.00 to $18.00 in a report on Friday, October 6th. Roth Capital set a $20.00 price target on shares of Darling Ingredients and gave the stock a “buy” rating in a report on Tuesday, October 24th. Finally, Zacks Investment Research cut shares of Darling Ingredients from a “buy” rating to a “sell” rating in a report on Monday, October 16th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $19.33.

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About Darling Ingredients

Darling Ingredients Inc (Darling) is a developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients, creating a range of ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy and fertilizer industries.

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

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