Retirement Systems of Alabama Decreases Stock Holdings in Darling Ingredients Inc. (NYSE:DAR)

Retirement Systems of Alabama cut its position in Darling Ingredients Inc. (NYSE:DAR) by 40.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 193,176 shares of the company’s stock after selling 132,032 shares during the quarter. Retirement Systems of Alabama owned approximately 0.12% of Darling Ingredients worth $7,178,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its position in Darling Ingredients by 173.9% during the third quarter. GAMMA Investing LLC now owns 830 shares of the company’s stock valued at $31,000 after acquiring an additional 527 shares during the last quarter. Signaturefd LLC boosted its position in shares of Darling Ingredients by 75.0% in the 3rd quarter. Signaturefd LLC now owns 901 shares of the company’s stock worth $33,000 after purchasing an additional 386 shares in the last quarter. Blue Trust Inc. increased its position in Darling Ingredients by 38.0% during the 3rd quarter. Blue Trust Inc. now owns 1,046 shares of the company’s stock valued at $38,000 after buying an additional 288 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Darling Ingredients in the third quarter valued at about $58,000. Finally, Farther Finance Advisors LLC boosted its holdings in Darling Ingredients by 69.2% in the third quarter. Farther Finance Advisors LLC now owns 1,854 shares of the company’s stock worth $69,000 after acquiring an additional 758 shares in the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.

Darling Ingredients Stock Performance

NYSE DAR opened at $35.32 on Wednesday. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 21.80 and a beta of 1.19. The stock has a 50-day moving average of $38.81 and a 200 day moving average of $37.94. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.89. Darling Ingredients Inc. has a twelve month low of $32.67 and a twelve month high of $51.12.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Jefferies Financial Group upped their price target on shares of Darling Ingredients from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Piper Sandler decreased their target price on Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Friday, October 11th. JPMorgan Chase & Co. upped their target price on Darling Ingredients from $58.00 to $59.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, TD Cowen reduced their price target on shares of Darling Ingredients from $45.00 to $43.00 and set a “hold” rating for the company in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Darling Ingredients presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.44.

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.