Raffles Associates LP purchased a new stake in Darling Ingredients Inc. (NYSE:DAR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 71,507 shares of the company’s stock, valued at approximately $1,126,000. Darling Ingredients makes up about 1.1% of Raffles Associates LP’s portfolio, making the stock its 27th largest position.
A number of other institutional investors have also recently bought and sold shares of DAR. Russell Investments Group Ltd. raised its holdings in Darling Ingredients by 237.2% in the 1st quarter. Russell Investments Group Ltd. now owns 32,109 shares of the company’s stock valued at $467,000 after acquiring an additional 22,587 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Darling Ingredients by 72.1% in the 1st quarter. Wells Fargo & Company MN now owns 203,342 shares of the company’s stock valued at $2,952,000 after purchasing an additional 85,216 shares during the period. UBS Asset Management Americas Inc. grew its stake in shares of Darling Ingredients by 16.8% in the 1st quarter. UBS Asset Management Americas Inc. now owns 119,027 shares of the company’s stock valued at $1,728,000 after purchasing an additional 17,124 shares during the period. Mason Street Advisors LLC grew its stake in shares of Darling Ingredients by 7.1% in the 1st quarter. Mason Street Advisors LLC now owns 38,516 shares of the company’s stock valued at $559,000 after purchasing an additional 2,547 shares during the period. Finally, Victory Capital Management Inc. bought a new stake in shares of Darling Ingredients in the 1st quarter valued at approximately $146,000. 95.54% of the stock is owned by hedge funds and other institutional investors.
DAR has been the topic of several analyst reports. Zacks Investment Research upgraded Darling Ingredients from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 18th. BidaskClub lowered Darling Ingredients from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Canaccord Genuity reiterated a “buy” rating and issued a $18.00 price objective on shares of Darling Ingredients in a research note on Monday, September 25th. Robert W. Baird reiterated an “outperform” rating and issued a $20.00 price objective (up from $19.00) on shares of Darling Ingredients in a research note on Friday, August 11th. Finally, J P Morgan Chase & Co lowered Darling Ingredients from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $19.00 to $18.00 in a research note on Friday, October 6th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $18.50.
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Darling Ingredients (NYSE:DAR) last posted its earnings results on Wednesday, August 9th. The company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.05). Darling Ingredients had a return on equity of 3.99% and a net margin of 2.39%. The business had revenue of $896.30 million during the quarter, compared to analyst estimates of $890.91 million. During the same quarter in the prior year, the company earned $0.19 EPS. The company’s revenue was up 2.2% on a year-over-year basis.
About Darling Ingredients
Darling Ingredients Inc (Darling) is a developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients, creating a range of ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy and fertilizer industries.
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