Darling Ingredients Inc. (NYSE:DAR) Shares Acquired by Private Management Group Inc.

by · The Cerbat Gem

Private Management Group Inc. increased its stake in shares of Darling Ingredients Inc. (NYSE:DAR – Free Report) by 1.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 812,433 shares of the company’s stock after acquiring an additional 9,982 shares during the quarter. Private Management Group Inc. owned about 0.51% of Darling Ingredients worth $30,190,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Darling Ingredients by 1.5% during the first quarter. Vanguard Group Inc. now owns 15,610,753 shares of the company’s stock worth $726,056,000 after acquiring an additional 232,583 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Darling Ingredients by 52.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,236,616 shares of the company’s stock worth $192,445,000 after purchasing an additional 1,800,809 shares during the last quarter. Earnest Partners LLC grew its position in Darling Ingredients by 14.0% during the 2nd quarter. Earnest Partners LLC now owns 3,829,265 shares of the company’s stock worth $140,725,000 after purchasing an additional 470,170 shares during the last quarter. Jennison Associates LLC increased 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 purchasing an additional 554,512 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Darling Ingredients by 1.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,366,263 shares of the company’s stock valued at $50,210,000 after buying an additional 15,414 shares during the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on DAR shares. TD Cowen reduced their price objective on Darling Ingredients from $45.00 to $43.00 and set a “hold” rating for the company in a research note on Friday, September 13th. Scotiabank lowered their price objective on shares of Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Jefferies Financial Group boosted their price objective 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 reduced their target price on shares of Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Darling Ingredients from $58.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.60.

Read Our Latest Stock Report on Darling Ingredients

Darling Ingredients Stock Up 0.7 %

DAR traded up $0.29 during trading on Friday, hitting $39.40. The company had a trading volume of 1,584,610 shares, compared to its average volume of 2,154,643. The company has a market cap of $6.27 billion, a PE ratio of 24.33 and a beta of 1.24. The business has a 50-day moving average of $37.59 and a 200-day moving average of $38.78. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.57 and a quick ratio of 0.91. Darling Ingredients Inc. has a 1-year low of $32.67 and a 1-year high of $51.36.

Darling Ingredients (NYSE:DAR – Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.29). The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. Darling Ingredients had a net margin of 4.42% and a return on equity of 5.98%. Darling Ingredients’s revenue was down 12.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 earnings per share. As a group, analysts forecast that Darling Ingredients Inc. will post 1.89 earnings per share for the current year.

Darling Ingredients Profile

(Free Report)

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.

Read More