Gibbs Wealth Management purchased a new position in shares of Darling Ingredients Inc. (NYSE:DAR – Free Report) in the 1st quarter, Holdings Channel reports. The firm purchased 11,745 shares of the company’s stock, valued at approximately $726,000.
Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Darling Ingredients by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 15,394,342 shares of the company’s stock valued at $554,196,000 after acquiring an additional 512,219 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Darling Ingredients by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 8,066,971 shares of the company’s stock valued at $498,927,000 after acquiring an additional 47,565 shares during the last quarter. Davis Selected Advisers increased its position in Darling Ingredients by 15.8% during the 4th quarter. Davis Selected Advisers now owns 2,842,306 shares of the company’s stock worth $102,324,000 after purchasing an additional 388,366 shares in the last quarter. Geode Capital Management LLC increased its position in Darling Ingredients by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 2,839,649 shares of the company’s stock worth $102,249,000 after purchasing an additional 76,151 shares in the last quarter. Finally, Morgan Stanley raised its stake in Darling Ingredients by 3.2% in the 4th quarter. Morgan Stanley now owns 2,649,084 shares of the company’s stock valued at $95,367,000 after purchasing an additional 82,616 shares during the last quarter. 94.44% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Darling Ingredients
In related news, CAO Joseph Manzi sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $63.89, for a total value of $191,670.00. Following the sale, the chief accounting officer directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by insiders.
Darling Ingredients Stock Performance
Darling Ingredients (NYSE:DAR – Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.27. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. Darling Ingredients had a return on equity of 5.65% and a net margin of 3.54%.The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the company earned ($0.16) EPS. On average, research analysts predict that Darling Ingredients Inc. will post 5.04 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research firms have issued reports on DAR. Zacks Research lowered shares of Darling Ingredients from a “strong-buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of Darling Ingredients from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Wall Street Zen raised shares of Darling Ingredients from a “hold” rating to a “buy” rating in a research report on Sunday, July 5th. Jefferies Financial Group upped their price objective on shares of Darling Ingredients from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, Weiss Ratings upgraded shares of Darling Ingredients from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 15th. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Darling Ingredients has a consensus rating of “Moderate Buy” and a consensus price target of $67.82.
Check Out Our Latest Analysis on Darling Ingredients
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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