New York State Common Retirement Fund Sells 346,874 Shares of Darling Ingredients Inc. (NYSE:DAR)

New York State Common Retirement Fund decreased its holdings in shares of Darling Ingredients Inc. (NYSE:DAR) by 39.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 538,808 shares of the company’s stock after selling 346,874 shares during the period. New York State Common Retirement Fund owned 0.34% of Darling Ingredients worth $20,022,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. US Bancorp DE increased its stake in shares of Darling Ingredients by 34.9% during the third quarter. US Bancorp DE now owns 98,888 shares of the company’s stock valued at $3,675,000 after purchasing an additional 25,607 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Darling Ingredients by 2.6% during the third quarter. Nisa Investment Advisors LLC now owns 12,015 shares of the company’s stock valued at $446,000 after purchasing an additional 310 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Darling Ingredients by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 18,560 shares of the company’s stock valued at $689,000 after purchasing an additional 1,250 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Darling Ingredients by 219.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 103,814 shares of the company’s stock valued at $3,897,000 after purchasing an additional 71,314 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Darling Ingredients by 16.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,778 shares of the company’s stock valued at $252,000 after purchasing an additional 952 shares in the last quarter. Institutional investors own 94.44% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on DAR. TD Cowen decreased their target price on shares of Darling Ingredients from $45.00 to $43.00 and set a “hold” rating for the company in a research note on Friday, September 13th. Jefferies Financial Group raised their price target on shares of Darling Ingredients from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. raised their price target on shares of Darling Ingredients from $58.00 to $59.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Scotiabank reduced their price target on shares of Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, Piper Sandler reduced their price target on shares of Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $55.60.

Darling Ingredients Trading Up 1.0 %

Shares of DAR stock opened at $39.80 on Tuesday. Darling Ingredients Inc. has a 12-month low of $32.67 and a 12-month high of $51.36. The company has a current ratio of 1.57, a quick ratio of 0.91 and a debt-to-equity ratio of 0.95. The firm’s 50 day moving average is $37.59 and its 200 day moving average is $38.73. The stock has a market capitalization of $6.33 billion, a P/E ratio of 24.57 and a beta of 1.23.

Darling Ingredients (NYSE:DAR) last issued its earnings results on Thursday, October 24th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.29). The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Darling Ingredients had a return on equity of 5.98% and a net margin of 4.42%. The company’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 EPS. Research analysts expect that Darling Ingredients Inc. will post 1.89 earnings per share for the current year.

About Darling Ingredients

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.