Lombard Odier Asset Management Europe Ltd trimmed its position in Darling Ingredients Inc. (NYSE:DAR – Free Report) by 97.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 160,505 shares of the company’s stock after selling 6,308,317 shares during the period. Lombard Odier Asset Management Europe Ltd owned 0.10% of Darling Ingredients worth $5,778,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Danske Bank A S acquired a new stake in shares of Darling Ingredients in the third quarter valued at about $25,000. Allworth Financial LP lifted its stake in shares of Darling Ingredients by 227.2% in the fourth quarter. Allworth Financial LP now owns 733 shares of the company’s stock worth $26,000 after acquiring an additional 509 shares during the period. Litman Gregory Wealth Management LLC acquired a new position in shares of Darling Ingredients in the fourth quarter worth approximately $29,000. Leonteq Securities AG bought a new stake in Darling Ingredients in the fourth quarter valued at approximately $35,000. Finally, Hilton Head Capital Partners LLC acquired a new stake in Darling Ingredients during the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 94.44% of the company’s stock.
Analyst Ratings Changes
Several analysts have recently commented on DAR shares. Robert W. Baird increased their price objective on Darling Ingredients from $64.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 7th. Weiss Ratings raised shares of Darling Ingredients from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. Wall Street Zen lowered shares of Darling Ingredients from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Scotiabank lifted their price target on Darling Ingredients from $61.00 to $70.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Finally, UBS Group upped their price objective on Darling Ingredients from $58.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.00.
Insider Activity
In related news, CAO Joseph Manzi sold 3,000 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $63.89, for a total value of $191,670.00. Following the completion of the transaction, the chief accounting officer owned 19,969 shares of the company’s stock, valued at approximately $1,275,819.41. This trade represents a 13.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company’s stock.
Darling Ingredients Trading Down 1.6%
Shares of Darling Ingredients stock opened at $55.22 on Wednesday. Darling Ingredients Inc. has a twelve month low of $29.15 and a twelve month high of $66.02. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.82. The business has a 50-day moving average price of $60.47 and a 200-day moving average price of $50.99. The firm has a market cap of $8.78 billion, a price-to-earnings ratio of 40.01 and a beta of 1.02.
Darling Ingredients (NYSE:DAR – Get Free Report) last released 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. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Darling Ingredients had a return on equity of 5.65% and a net margin of 3.54%.The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.16) EPS. Equities research analysts anticipate that Darling Ingredients Inc. will post 4.68 EPS for the current fiscal year.
About Darling Ingredients
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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