Canada Pension Plan Investment Board Invests $15.41 Million in Darling Ingredients Inc. (NYSE:DAR)

Canada Pension Plan Investment Board bought a new stake in Darling Ingredients Inc. (NYSE:DAR) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 419,200 shares of the company’s stock, valued at approximately $15,406,000. Canada Pension Plan Investment Board owned about 0.26% of Darling Ingredients at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Balyasny Asset Management L.P. bought a new position in Darling Ingredients in the 4th quarter valued at $92,661,000. Dimensional Fund Advisors LP grew its position in Darling Ingredients by 52.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,236,616 shares of the company’s stock valued at $192,445,000 after buying an additional 1,800,809 shares during the period. Gates Capital Management Inc. purchased a new stake in Darling Ingredients during the fourth quarter worth about $88,885,000. Bank of New York Mellon Corp raised its position in Darling Ingredients by 24.9% in the first quarter. Bank of New York Mellon Corp now owns 4,279,247 shares of the company’s stock worth $199,028,000 after acquiring an additional 851,886 shares during the period. Finally, Jennison Associates LLC boosted its stake in Darling Ingredients by 55.0% in the first quarter. Jennison Associates LLC now owns 1,562,739 shares of the company’s stock valued at $72,683,000 after acquiring an additional 554,512 shares during the last quarter. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Robert W. Day bought 2,532 shares of Darling Ingredients stock in a transaction that occurred on Wednesday, July 31st. The shares were acquired at an average price of $39.37 per share, with a total value of $99,684.84. Following the completion of the purchase, the executive vice president now directly owns 12,607 shares in the company, valued at $496,337.59. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.62% of the company’s stock.

Darling Ingredients Price Performance

Darling Ingredients stock opened at $36.60 on Tuesday. The business has a 50-day simple moving average of $38.03 and a 200 day simple moving average of $40.25. Darling Ingredients Inc. has a 52 week low of $32.67 and a 52 week high of $55.20. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 10.96 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 1.57 and a debt-to-equity ratio of 0.95.

Darling Ingredients (NYSE:DAR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.10. Darling Ingredients had a net margin of 6.04% and a return on equity of 8.38%. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the business earned $1.55 earnings per share. Darling Ingredients’s revenue for the quarter was down 17.2% compared to the same quarter last year. On average, research analysts forecast that Darling Ingredients Inc. will post 2.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Citigroup raised shares of Darling Ingredients from a “neutral” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Wednesday, June 12th. Jefferies Financial Group dropped their price target on Darling Ingredients from $53.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Scotiabank decreased their price objective on Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Finally, TD Cowen dropped their price objective on shares of Darling Ingredients from $45.00 to $43.00 and set a “hold” rating on the stock in a report on Friday, September 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.10.

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.