CenterBook Partners LP decreased its position in Darling Ingredients Inc. (NYSE:DAR – Free Report) by 57.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 165,267 shares of the company’s stock after selling 222,198 shares during the period. CenterBook Partners LP’s holdings in Darling Ingredients were worth $5,950,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in Darling Ingredients by 227.2% in the fourth quarter. Allworth Financial LP now owns 733 shares of the company’s stock valued at $26,000 after buying an additional 509 shares in the last quarter. Danske Bank A S purchased a new position in Darling Ingredients in the third quarter valued at $25,000. Leonteq Securities AG purchased a new position in Darling Ingredients in the fourth quarter valued at $35,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Darling Ingredients in the fourth quarter valued at about $36,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Darling Ingredients by 681.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,016 shares of the company’s stock worth $39,000 after purchasing an additional 886 shares in the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.
Insider Activity at Darling Ingredients
In other Darling Ingredients news, CAO Joseph Manzi sold 3,000 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $63.89, for a total transaction of $191,670.00. Following the sale, the chief accounting officer directly owned 19,969 shares in the company, valued at $1,275,819.41. This represents a 13.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.90% of the company’s stock.
Darling Ingredients Stock Performance
Darling Ingredients (NYSE:DAR – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.27. Darling Ingredients had a net margin of 3.54% and a return on equity of 5.65%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the company posted ($0.16) EPS. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, analysts expect that Darling Ingredients Inc. will post 4.68 EPS for the current year.
Analyst Ratings Changes
DAR has been the topic of several research analyst reports. Robert W. Baird lifted their price objective on Darling Ingredients from $64.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, April 7th. JPMorgan Chase & Co. lifted their price objective on Darling Ingredients from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. UBS Group lifted their price objective on Darling Ingredients from $58.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. TD Cowen lifted their price objective on Darling Ingredients from $72.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Wall Street Zen cut Darling Ingredients from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.00.
Read Our Latest Stock Analysis on DAR
Darling Ingredients Company Profile
Darling Ingredients Inc (NYSE: DAR) is a global leader in converting edible and inedible bio-nutrient streams into sustainable food, feed ingredients, renewable fuels and specialty products. Founded in 1882 and headquartered in Irving, Texas, the company builds on more than a century of experience in animal rendering and by-product recycling. Over time, Darling has expanded its capabilities beyond traditional rendering to include advanced processing technologies that support a circular economy and reduce waste from food and agricultural industries.
The company’s core operations revolve around four primary segments: Feed Ingredients & Services, Food & Nutrition, Fuel Ingredients & Services, and Specialty Ingredients.
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