Oppenheimer Asset Management Inc. bought a new position in shares of Darling Ingredients Inc. (NYSE:DAR – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 142,713 shares of the company’s stock, valued at approximately $7,795,000. Oppenheimer Asset Management Inc. owned approximately 0.09% of Darling Ingredients at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Darling Ingredients during the 4th quarter valued at $94,211,000. No Street GP LP acquired a new stake in shares of Darling Ingredients in the third quarter valued at $69,458,000. Assenagon Asset Management S.A. lifted its holdings in shares of Darling Ingredients by 72.9% in the first quarter. Assenagon Asset Management S.A. now owns 2,091,960 shares of the company’s stock valued at $129,388,000 after buying an additional 882,185 shares during the period. Rubric Capital Management LP bought a new position in Darling Ingredients during the fourth quarter valued at about $24,510,000. Finally, Amundi boosted its stake in Darling Ingredients by 177.7% during the fourth quarter. Amundi now owns 864,400 shares of the company’s stock valued at $31,119,000 after buying an additional 553,081 shares in the last quarter. 94.44% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
DAR has been the topic of several research reports. Stephens boosted their price target on shares of Darling Ingredients from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Zacks Research lowered shares of Darling Ingredients from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Wall Street Zen raised shares of Darling Ingredients from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Jefferies Financial Group boosted their target price on shares of Darling Ingredients from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Barclays increased their target price on shares of Darling Ingredients from $62.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Ten research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.00.
Insider Transactions at Darling Ingredients
In other Darling Ingredients news, Director Charles L. Adair purchased 1,000 shares of the stock in a transaction dated Friday, July 31st. The shares were acquired at an average price of $60.97 per share, for a total transaction of $60,970.00. Following the completion of the acquisition, the director owned 51,690 shares of the company’s stock, valued at $3,151,539.30. This represents a 1.97% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nicholas James Kemphaus sold 1,591 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $63.05, for a total value of $100,312.55. Following the transaction, the executive vice president directly owned 35,087 shares in the company, valued at $2,212,235.35. The trade was a 4.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is currently owned by insiders.
Darling Ingredients Trading Up 1.7%
Darling Ingredients stock opened at $66.86 on Friday. The company has a 50 day moving average price of $58.93 and a 200 day moving average price of $57.49. Darling Ingredients Inc. has a 52 week low of $29.15 and a 52 week high of $67.68. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.03 and a current ratio of 1.56. The firm has a market capitalization of $10.55 billion, a price-to-earnings ratio of 18.02 and a beta of 1.02.
Darling Ingredients (NYSE:DAR – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $1.40 by $1.01. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Darling Ingredients had a net margin of 9.13% and a return on equity of 12.98%. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS. Research analysts forecast that Darling Ingredients Inc. will post 6.98 EPS for the current year.
Darling Ingredients 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.
Read More
- Five stocks we like better than Darling Ingredients
- Sony and TSMC’s $4.7 Billion Venture Is About More Than Camera Sensors
- Quantum Leaps: Debt-Free as AI Storage Demand Accelerates
- NVIDIA’s $500 Billion GPU Financing Deal Fuels Path Toward $270
- Sandisk’s Margins Look Like Software. Can They Last?
Want to see what other hedge funds are holding DAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Darling Ingredients Inc. (NYSE:DAR – Free Report).
Receive News & Ratings for Darling Ingredients Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Darling Ingredients and related companies with MarketBeat.com's FREE daily email newsletter.
