American International Group Inc. cut its position in Darling Ingredients Inc. (NYSE:DAR) by 0.1% during the third quarter, Holdings Channel reports. The institutional investor owned 122,228 shares of the company’s stock after selling 80 shares during the period. American International Group Inc. owned approximately 0.07% of Darling Ingredients worth $1,651,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. New York State Teachers Retirement System increased its stake in shares of Darling Ingredients by 8.2% in the second quarter. New York State Teachers Retirement System now owns 387,295 shares of the company’s stock worth $5,771,000 after buying an additional 29,300 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Darling Ingredients during the second quarter worth approximately $7,249,000. Louisiana State Employees Retirement System increased its stake in shares of Darling Ingredients by 0.3% in the second quarter. Louisiana State Employees Retirement System now owns 72,900 shares of the company’s stock worth $1,086,000 after buying an additional 200 shares in the last quarter. Strs Ohio increased its stake in shares of Darling Ingredients by 425.0% in the second quarter. Strs Ohio now owns 65,100 shares of the company’s stock worth $969,000 after buying an additional 52,700 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its stake in shares of Darling Ingredients by 5.6% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 17,312 shares of the company’s stock worth $258,000 after buying an additional 920 shares in the last quarter. Institutional investors own 95.54% of the company’s stock.
Darling Ingredients Inc. (NYSE:DAR) traded down 0.75% during midday trading on Friday, reaching $11.92. The company had a trading volume of 733,517 shares. The firm has a 50-day moving average of $12.94 and a 200-day moving average of $13.76. Darling Ingredients Inc. has a 12 month low of $7.78 and a 12 month high of $15.93. The stock has a market cap of $1.96 billion, a P/E ratio of 13.42 and a beta of 1.83.
Darling Ingredients (NYSE:DAR) last posted its earnings results on Thursday, November 10th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. Darling Ingredients had a return on equity of 7.34% and a net margin of 4.40%. The company had revenue of $853.90 million for the quarter, compared to the consensus estimate of $858.92 million. During the same quarter in the prior year, the business earned ($0.02) earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities analysts expect that Darling Ingredients Inc. will post $0.55 EPS for the current fiscal year.
DAR has been the subject of a number of research reports. TheStreet downgraded Darling Ingredients from a “buy” rating to a “hold” rating in a research report on Thursday, October 6th. Zacks Investment Research upgraded Darling Ingredients from a “sell” rating to a “hold” rating in a research report on Monday, October 17th. Finally, Canaccord Genuity set a $18.00 price objective on Darling Ingredients and gave the stock a “buy” rating in a research report on Tuesday, November 8th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $16.79.
About Darling Ingredients
Darling Ingredients Inc, formerly Darling International Inc, is a developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients. The Company offers a range of ingredients and specialty solutions for customers in the food, pet food, pharmaceutical, feed, fuel, bioenergy and fertilizer industries.
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