Darling Ingredients Inc. (NYSE:DAR) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in Darling Ingredients Inc. (NYSE:DARGet Rating) by 11.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 319,801 shares of the company’s stock after buying an additional 33,757 shares during the quarter. Victory Capital Management Inc. owned 0.20% of Darling Ingredients worth $23,824,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC grew its position in Darling Ingredients by 27.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 158,378 shares of the company’s stock worth $12,730,000 after purchasing an additional 33,856 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Darling Ingredients by 4.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 198,322 shares of the company’s stock worth $15,941,000 after purchasing an additional 8,057 shares in the last quarter. Shell Asset Management Co. grew its position in Darling Ingredients by 12.7% during the 1st quarter. Shell Asset Management Co. now owns 138,952 shares of the company’s stock worth $11,169,000 after purchasing an additional 15,656 shares in the last quarter. AllSquare Wealth Management LLC grew its position in Darling Ingredients by 31.2% during the 1st quarter. AllSquare Wealth Management LLC now owns 576 shares of the company’s stock worth $46,000 after purchasing an additional 137 shares in the last quarter. Finally, abrdn plc grew its position in Darling Ingredients by 75.1% during the 1st quarter. abrdn plc now owns 8,633 shares of the company’s stock worth $708,000 after purchasing an additional 3,703 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Buying and Selling

In other news, Director Charles L. Adair bought 500 shares of the company’s stock in a transaction that occurred on Tuesday, May 24th. The shares were purchased at an average price of $73.95 per share, for a total transaction of $36,975.00. Following the acquisition, the director now directly owns 36,051 shares of the company’s stock, valued at approximately $2,665,971.45. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Charles L. Adair bought 500 shares of the company’s stock in a transaction that occurred on Tuesday, May 24th. The shares were purchased at an average price of $73.95 per share, for a total transaction of $36,975.00. Following the acquisition, the director now directly owns 36,051 shares of the company’s stock, valued at approximately $2,665,971.45. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Der Velden Jan Van sold 17,087 shares of the business’s stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $76.21, for a total transaction of $1,302,200.27. Following the transaction, the executive vice president now owns 67,708 shares in the company, valued at approximately $5,160,026.68. The disclosure for this sale can be found here. Insiders have sold 67,333 shares of company stock worth $5,347,539 in the last quarter. 2.62% of the stock is currently owned by company insiders.

Darling Ingredients Stock Up 1.4 %

DAR stock opened at $71.92 on Thursday. The company has a current ratio of 1.55, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. Darling Ingredients Inc. has a 1 year low of $55.71 and a 1 year high of $87.59. The company has a fifty day simple moving average of $68.17 and a 200 day simple moving average of $71.39. The firm has a market cap of $11.62 billion, a PE ratio of 17.41 and a beta of 1.24.

Darling Ingredients (NYSE:DARGet Rating) last announced its earnings results on Tuesday, May 10th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.14 by $0.02. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.29 billion. Darling Ingredients had a net margin of 13.58% and a return on equity of 20.76%. The business’s quarterly revenue was up 30.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 EPS. Sell-side analysts anticipate that Darling Ingredients Inc. will post 5.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DAR has been the topic of several research analyst reports. Cowen initiated coverage on shares of Darling Ingredients in a research report on Monday, April 25th. They set a “market perform” rating and a $80.00 price objective on the stock. Cowen decreased their target price on shares of Darling Ingredients to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. StockNews.com lowered shares of Darling Ingredients from a “buy” rating to a “hold” rating in a research note on Tuesday, April 19th. Piper Sandler lifted their target price on shares of Darling Ingredients to $98.00 in a research note on Monday, July 25th. Finally, Stephens lifted their target price on shares of Darling Ingredients from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, April 20th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.33.

Darling Ingredients Profile

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Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.

Further Reading

Institutional Ownership by Quarter for Darling Ingredients (NYSE:DAR)

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