The Manufacturers Life Insurance Company Buys Shares of 115,095 Darling Ingredients Inc. $DAR

The Manufacturers Life Insurance Company acquired a new stake in shares of Darling Ingredients Inc. (NYSE:DAR) during the second quarter, HoldingsChannel reports. The fund acquired 115,095 shares of the company’s stock, valued at approximately $6,286,000.

Several other institutional investors and hedge funds have also bought and sold shares of DAR. BlackRock Inc. purchased a new position in shares of Darling Ingredients during the 2nd quarter worth $851,450,000. AIA Group Ltd purchased a new position in Darling Ingredients during the first quarter valued at $4,453,000. Fideuram Asset Management Ireland dac purchased a new position in Darling Ingredients during the fourth quarter valued at $585,000. BNP Paribas Financial Markets grew its holdings in Darling Ingredients by 26.8% during the fourth quarter. BNP Paribas Financial Markets now owns 1,310,516 shares of the company’s stock valued at $47,179,000 after purchasing an additional 277,233 shares during the period. Finally, Strs Ohio grew its holdings in Darling Ingredients by 7,554.6% during the first quarter. Strs Ohio now owns 286,740 shares of the company’s stock valued at $17,735,000 after purchasing an additional 282,994 shares during the period. 94.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price objective on Darling Ingredients from $78.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Wall Street Zen upgraded Darling Ingredients from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 15th. Weiss Ratings raised shares of Darling Ingredients from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. TD Cowen lifted their price target on shares of Darling Ingredients from $70.00 to $80.00 and gave the company a “buy” rating in a report on Monday, July 27th. Finally, Zacks Research raised shares of Darling Ingredients from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $69.00.

Insider Activity at Darling Ingredients

In other news, CAO Joseph Manzi sold 1,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $1,276,044.63. The trade was a 5.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick Mcnutt sold 8,000 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $67.09, for a total transaction of $536,720.00. Following the transaction, the executive vice president owned 35,777 shares of the company’s stock, valued at approximately $2,400,278.93. This represents a 18.27% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 10,591 shares of company stock valued at $704,303. Corporate insiders own 1.90% of the company’s stock.

Darling Ingredients Stock Performance

NYSE DAR opened at $64.35 on Monday. The firm has a market cap of $10.15 billion, a price-to-earnings ratio of 17.35 and a beta of 1.02. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average price of $60.68 and a 200-day moving average price of $58.89. Darling Ingredients Inc. has a twelve month low of $29.15 and a twelve month high of $69.98.

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

Darling Ingredients Company Profile

Darling Ingredients Inc (NYSE: DAR) is a global leader in converting edible and inedible bio-nutrient streams into sustainable food, feed ingredients, renewable fuels and specialty products. Founded in 1882 and headquartered in Irving, Texas, the company builds on more than a century of experience in animal rendering and by-product recycling. Over time, Darling has expanded its capabilities beyond traditional rendering to include advanced processing technologies that support a circular economy and reduce waste from food and agricultural industries.

The company’s core operations revolve around four primary segments: Feed Ingredients & Services, Food & Nutrition, Fuel Ingredients & Services, and Specialty Ingredients.