Pictet Asset Management Holding SA increased its stake in Darling Ingredients Inc. (NYSE:DAR – Free Report) by 56.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,283,539 shares of the company’s stock after purchasing an additional 462,002 shares during the period. Pictet Asset Management Holding SA’s holdings in Darling Ingredients were worth $77,900,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DAR. Financial Management Professionals Inc. bought a new position in Darling Ingredients during the 3rd quarter worth $26,000. McCarley & Cook Financial Planners bought a new stake in Darling Ingredients in the third quarter valued at $30,000. Pension & Wealth Management Advisors Inc. bought a new stake in Darling Ingredients in the third quarter valued at $34,000. Northwestern Mutual Wealth Management Co. bought a new stake in Darling Ingredients in the second quarter valued at $53,000. Finally, Elevation Wealth Partners LLC boosted its holdings in shares of Darling Ingredients by 2,474.3% during the third quarter. Elevation Wealth Partners LLC now owns 901 shares of the company’s stock valued at $55,000 after acquiring an additional 866 shares during the period. Institutional investors and hedge funds own 94.44% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on DAR shares. Barclays upped their price target on shares of Darling Ingredients from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Weiss Ratings upgraded shares of Darling Ingredients from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 12th. Stephens reiterated an “overweight” rating and issued a $80.00 price objective on shares of Darling Ingredients in a research report on Thursday, October 15th. Wall Street Zen lowered shares of Darling Ingredients from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 31st. Finally, TD Cowen upped their target price on shares of Darling Ingredients from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $73.80.
Read Our Latest Analysis on Darling Ingredients
Darling Ingredients Stock Up 4.6%
DAR opened at $52.51 on Tuesday. Darling Ingredients Inc. has a 12 month low of $31.81 and a 12 month high of $69.98. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.56 and a quick ratio of 1.03. The stock has a market cap of $8.29 billion, a P/E ratio of 9.98 and a beta of 1.00. The stock’s 50 day moving average price is $60.80 and its 200 day moving average price is $58.56.
Darling Ingredients (NYSE:DAR – Get Free Report) last announced its earnings results on Wednesday, October 28th. The company reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.03). Darling Ingredients had a net margin of 12.48% and a return on equity of 17.76%. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the previous year, the firm earned $0.12 EPS. As a group, research analysts predict that Darling Ingredients Inc. will post 6.85 earnings per share for the current year.
Insider Buying and Selling at Darling Ingredients
In related news, CAO Joseph Manzi sold 1,000 shares of Darling Ingredients stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $67.27, for a total transaction of $67,270.00. Following the sale, the chief accounting officer directly owned 18,969 shares in the company, valued at $1,276,044.63. The trade was a 5.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick McNutt sold 8,000 shares of Darling Ingredients stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $67.09, for a total transaction of $536,720.00. Following the sale, the executive vice president owned 35,777 shares in the company, valued at approximately $2,400,278.93. This represents a 18.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.90% of the company’s stock.
Darling Ingredients Profile
Darling Ingredients Inc collects and transforms animal by-products and other organic materials into ingredients and products used in food, animal feed, fuel and other markets. Its operations help convert materials from meat processing, food production and used cooking oils into usable fats, proteins, oils and other ingredients.
The company’s businesses span feed ingredients, food ingredients and fuel ingredients. Products include animal nutrition ingredients, gelatin and collagen, and fats and oils used in food and industrial applications.
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