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Jeffrey Gates, Gates Capital Add To Position in Darling International Inc. (DAR)

Gates Capital Management, managed by Jeffrey Gates, has been bullish on Darling International Inc. (NYSE:DAR), raising its holding in the company to a total of over 6.0 million shares, from some 4.9 million held as at the end of September. The position revealed by Gates is passive by nature and amasses 5.1% of the company’s common stock. At the current stock price of Darling International, the value of the holding amounts to some $122.8 million.

Darling International Inc. (NYSE:DAR)

In addition to the long position, Gates also disclosed holding 3.0 million shares of the company under the “Put” option, in its latest 13F. The stock of Darling International Inc. (NYSE:DAR) has advanced and gained over 27% since the beginning of the year.

Darling International Inc. (NYSE:DAR) reported a decline in its net sales, which totaled $425.8 million in the third quarter of the year, versus $452.7 million for the same period of last year. The net income of the company also fell and amounted $27.7 million, equal to $0.23 per share, from $37.2 million posted in the third quarter of 2012.

Aside from Gates, Fisher Asset Management, led by Ken Fisher reported holding shares of Darling International Inc. (NYSE:DAR) among other hedge funds. Fisher’s stake amounts to $74.2 million, and contains 3.5 million shares. Gregg J. Powers’ Private Capital Management disclosed a $19.6 million stake, which contains 925,800 shares of Darling.

In the latest 13F, Gates Capital disclosed holding a $196.8 million position in Nortek Inc (NASDAQ:NTK), which is the largest stake in its equity portfolio and contains almost 2.9 million shares. The fund also reported ownership of almost 3.0 million shares of DaVita HealthCare Partners Inc (NYSE:DVA), and 2.6 million shares of McGraw Hill Financial Inc (NYSE:MHFI), with values worth $170.1 million, and $169.3 million respectively.

In November, Gates reported upping its stake in Headwaters Inc (NYSE:HW), in which it initiated exposure in September. The fund currently holds 10.1% of the company’s common stock, which represent 7.37 million shares, up from 3.7 million held previously.

Disclosure: none

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