Paloma Partners Management Co Acquires 838,047 Shares of Darling Ingredients Inc. (NYSE:DAR)

Paloma Partners Management Co lifted its holdings in shares of Darling Ingredients Inc. (NYSE:DAR) by 2,140.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 877,200 shares of the company’s stock after purchasing an additional 838,047 shares during the period. Darling Ingredients accounts for about 0.9% of Paloma Partners Management Co’s portfolio, making the stock its 12th biggest position. Paloma Partners Management Co owned 0.55% of Darling Ingredients worth $32,597,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Darling Ingredients by 38.0% in the third quarter. Blue Trust Inc. now owns 1,046 shares of the company’s stock worth $38,000 after acquiring an additional 288 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Darling Ingredients by 2.6% in the third quarter. Nisa Investment Advisors LLC now owns 12,015 shares of the company’s stock worth $446,000 after acquiring an additional 310 shares in the last quarter. Signaturefd LLC boosted its holdings in Darling Ingredients by 75.0% in the third quarter. Signaturefd LLC now owns 901 shares of the company’s stock worth $33,000 after acquiring an additional 386 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in Darling Ingredients by 5.7% in the third quarter. Glenmede Trust Co. NA now owns 7,609 shares of the company’s stock worth $283,000 after acquiring an additional 412 shares in the last quarter. Finally, Corbyn Investment Management Inc. MD boosted its holdings in Darling Ingredients by 1.6% in the third quarter. Corbyn Investment Management Inc. MD now owns 29,676 shares of the company’s stock worth $1,103,000 after acquiring an additional 455 shares in the last quarter. Institutional investors own 94.44% of the company’s stock.

Darling Ingredients Stock Performance

Shares of DAR opened at $40.53 on Monday. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of 25.02 and a beta of 1.23. The stock has a 50 day moving average of $38.89 and a 200 day moving average of $38.35. Darling Ingredients Inc. has a 12 month low of $32.67 and a 12 month high of $51.36.

Darling Ingredients (NYSE:DAR) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.29). The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Darling Ingredients had a net margin of 4.42% and a return on equity of 5.98%. The business’s revenue was down 12.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.77 earnings per share. As a group, sell-side analysts forecast that Darling Ingredients Inc. will post 1.88 earnings per share for the current year.

Analysts Set New Price Targets

DAR has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price target on Darling Ingredients from $58.00 to $59.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. TD Cowen lowered their price objective on Darling Ingredients from $45.00 to $43.00 and set a “hold” rating for the company in a research note on Friday, September 13th. Piper Sandler lowered their price objective on Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Finally, Jefferies Financial Group increased their price objective on Darling Ingredients from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.44.

Darling Ingredients Profile

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.