Appian Way Asset Management LP Buys Shares of 29,674 Darling Ingredients Inc. (NYSE:DAR)

Appian Way Asset Management LP bought a new position in shares of Darling Ingredients Inc. (NYSE:DAR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 29,674 shares of the company’s stock, valued at approximately $1,091,000.

Other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in Darling Ingredients by 1,412.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 499 shares of the company’s stock worth $25,000 after purchasing an additional 466 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of Darling Ingredients in the first quarter worth about $25,000. Riverview Trust Co bought a new position in shares of Darling Ingredients in the first quarter valued at approximately $55,000. Parallel Advisors LLC grew its stake in Darling Ingredients by 24.7% during the fourth quarter. Parallel Advisors LLC now owns 1,966 shares of the company’s stock valued at $98,000 after acquiring an additional 389 shares in the last quarter. Finally, V Square Quantitative Management LLC increased its holdings in Darling Ingredients by 56.9% during the 4th quarter. V Square Quantitative Management LLC now owns 1,997 shares of the company’s stock worth $100,000 after acquiring an additional 724 shares during the period. 94.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Robert W. Day bought 2,532 shares of Darling Ingredients stock in a transaction on Wednesday, July 31st. The shares were purchased at an average price of $39.37 per share, for a total transaction of $99,684.84. Following the acquisition, the executive vice president now owns 12,607 shares of the company’s stock, valued at $496,337.59. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.62% of the company’s stock.

Darling Ingredients Price Performance

DAR stock opened at $36.60 on Tuesday. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 10.96 and a beta of 1.24. The firm’s 50-day moving average price is $38.03 and its two-hundred day moving average price is $40.25. The company has a current ratio of 1.57, a quick ratio of 0.91 and a debt-to-equity ratio of 0.95. Darling Ingredients Inc. has a 12-month low of $32.67 and a 12-month high of $55.20.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.10. Darling Ingredients had a return on equity of 8.38% and a net margin of 6.04%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the business earned $1.55 EPS. Darling Ingredients’s revenue was down 17.2% compared to the same quarter last year. As a group, equities analysts predict that Darling Ingredients Inc. will post 2.47 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Jefferies Financial Group cut their price target on shares of Darling Ingredients from $53.00 to $47.00 and set a “buy” rating for the company in a report on Friday, July 26th. Scotiabank dropped their price objective on Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. TD Cowen decreased their target price 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. Finally, Citigroup upgraded Darling Ingredients from a “neutral” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.10.

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.