Systematic Financial Management LP Purchases New Position in Darling Ingredients Inc. (NYSE:DAR)

Systematic Financial Management LP purchased a new stake in Darling Ingredients Inc. (NYSE:DAR) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 12,810 shares of the company’s stock, valued at approximately $476,000.

Several other hedge funds have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings in shares of Darling Ingredients by 52.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,236,616 shares of the company’s stock worth $192,445,000 after purchasing an additional 1,800,809 shares during the last quarter. Paloma Partners Management Co boosted its position in Darling Ingredients by 2,140.4% in the third quarter. Paloma Partners Management Co now owns 877,200 shares of the company’s stock valued at $32,597,000 after buying an additional 838,047 shares in the last quarter. Erste Asset Management GmbH acquired a new position in Darling Ingredients in the third quarter valued at about $30,545,000. ING Groep NV grew its stake in Darling Ingredients by 244.1% during the third quarter. ING Groep NV now owns 810,100 shares of the company’s stock worth $30,103,000 after buying an additional 574,700 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Darling Ingredients by 17.3% during the third quarter. FMR LLC now owns 3,324,217 shares of the company’s stock worth $123,528,000 after buying an additional 491,477 shares in the last quarter. 94.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Darling Ingredients Trading Up 1.0 %

Shares of DAR opened at $35.94 on Friday. The stock’s fifty day simple moving average is $38.92 and its 200-day simple moving average is $38.20. The firm has a market capitalization of $5.72 billion, a PE ratio of 22.19 and a beta of 1.19. Darling Ingredients Inc. has a 12-month low of $32.67 and a 12-month high of $51.36. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.89.

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

Darling Ingredients Company 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.