DnB Asset Management AS Has $80.29 Million Stock Position in Darling Ingredients Inc. (NYSE:DAR)

DnB Asset Management AS raised its position in shares of Darling Ingredients Inc. (NYSE:DAR) by 1.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,258,610 shares of the company’s stock after purchasing an additional 15,621 shares during the quarter. DnB Asset Management AS owned approximately 0.79% of Darling Ingredients worth $80,287,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC raised its position in shares of Darling Ingredients by 107,533.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,663,509 shares of the company’s stock worth $479,659,000 after acquiring an additional 7,656,389 shares in the last quarter. Norges Bank acquired a new stake in Darling Ingredients during the fourth quarter worth approximately $135,362,000. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in Darling Ingredients by 52.3% in the first quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,563,849 shares of the company’s stock worth $208,129,000 after purchasing an additional 1,223,757 shares in the last quarter. Empower Advisory Group LLC acquired a new position in Darling Ingredients in the first quarter valued at approximately $52,813,000. Finally, Impax Asset Management Group plc lifted its stake in Darling Ingredients by 12.2% in the first quarter. Impax Asset Management Group plc now owns 4,125,217 shares of the company’s stock valued at $240,000,000 after buying an additional 447,406 shares during the period. Institutional investors own 89.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DAR. Stifel Nicolaus lowered their price objective on shares of Darling Ingredients from $120.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, August 22nd. Stephens reissued an “equal weight” rating and set a $65.00 price objective on shares of Darling Ingredients in a research report on Wednesday, August 9th. StockNews.com downgraded Darling Ingredients from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Piper Sandler upped their price target on Darling Ingredients from $93.00 to $95.00 in a research note on Tuesday, August 1st. Finally, JPMorgan Chase & Co. cut their price target on Darling Ingredients from $92.00 to $91.00 and set an “overweight” rating on the stock in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $89.60.

Darling Ingredients Stock Up 0.6 %

Shares of Darling Ingredients stock traded up $0.37 on Thursday, hitting $59.53. The company had a trading volume of 599,500 shares, compared to its average volume of 1,322,322. Darling Ingredients Inc. has a 1 year low of $51.77 and a 1 year high of $82.69. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.04 and a current ratio of 1.85. The stock has a 50 day moving average of $64.27 and a 200-day moving average of $61.78. The stock has a market capitalization of $9.49 billion, a price-to-earnings ratio of 12.28 and a beta of 1.24.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.02). Darling Ingredients had a return on equity of 20.15% and a net margin of 11.12%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the company posted $1.23 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Darling Ingredients Inc. will post 5.53 earnings per share for the current year.

Insider Transactions at Darling Ingredients

In related news, CEO Randall C. Stuewe sold 100,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $62.43, for a total transaction of $6,243,000.00. Following the transaction, the chief executive officer now directly owns 640,363 shares of the company’s stock, valued at $39,977,862.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Randall C. Stuewe sold 100,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $62.43, for a total transaction of $6,243,000.00. Following the completion of the sale, the chief executive officer now directly owns 640,363 shares of the company’s stock, valued at $39,977,862.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary W. Mize acquired 1,550 shares of the business’s stock in a transaction on Friday, August 11th. The stock was acquired at an average cost of $63.97 per share, for a total transaction of $99,153.50. Following the transaction, the director now owns 38,375 shares of the company’s stock, valued at approximately $2,454,848.75. The disclosure for this purchase can be found here. Insiders sold a total of 212,999 shares of company stock worth $13,533,010 in the last quarter. 2.62% of the stock is currently owned by corporate insiders.

Darling Ingredients Profile

Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. 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.