Community Trust & Investment Co. trimmed its holdings in Darling Ingredients Inc. (NYSE:DAR – Free Report) by 0.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 174,357 shares of the company’s stock after selling 505 shares during the quarter. Community Trust & Investment Co. owned about 0.11% of Darling Ingredients worth $11,122,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Belpointe Asset Management LLC bought a new position in shares of Darling Ingredients in the fourth quarter worth about $39,000. ICA Group Wealth Management LLC acquired a new position in Darling Ingredients during the 4th quarter worth $51,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Darling Ingredients by 624.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company’s stock valued at $63,000 after buying an additional 862 shares during the period. Assetmark Inc. raised its position in shares of Darling Ingredients by 21.5% during the fourth quarter. Assetmark Inc. now owns 1,109 shares of the company’s stock worth $69,000 after acquiring an additional 196 shares during the last quarter. Finally, Archer Investment Corp acquired a new position in shares of Darling Ingredients during the first quarter valued at $74,000. Institutional investors and hedge funds own 89.78% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts recently commented on DAR shares. JPMorgan Chase & Co. lowered their price objective on Darling Ingredients from $92.00 to $91.00 and set an “overweight” rating for the company in a research report on Thursday, August 10th. StockNews.com cut shares of Darling Ingredients from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Piper Sandler upped their target price on shares of Darling Ingredients from $93.00 to $95.00 in a research report on Tuesday, August 1st. Stephens restated an “equal weight” rating and issued a $65.00 price target on shares of Darling Ingredients in a research report on Wednesday, August 9th. Finally, Robert W. Baird cut their target price on Darling Ingredients from $106.00 to $104.00 in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $89.60.
Darling Ingredients Stock Down 0.1 %
NYSE DAR traded down $0.07 during trading hours on Tuesday, reaching $56.74. 188,843 shares of the company’s stock were exchanged, compared to its average volume of 1,332,080. 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 company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 11.78 and a beta of 1.24. The company’s 50-day moving average is $63.97 and its two-hundred day moving average is $61.63. Darling Ingredients Inc. has a one year low of $51.77 and a one year high of $82.69.
Darling Ingredients (NYSE:DAR – Get Free Report) last announced its earnings results on Tuesday, August 8th. The company reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.83 billion. During the same period in the previous year, the company posted $1.23 earnings per share. Darling Ingredients’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, analysts forecast that Darling Ingredients Inc. will post 5.5 EPS for the current fiscal year.
Insider Buying and Selling
In other news, EVP John Bullock sold 28,734 shares of Darling Ingredients stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $65.10, for a total value of $1,870,583.40. Following the sale, the executive vice president now directly owns 101,189 shares in the company, valued at $6,587,403.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP John Bullock sold 28,734 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $65.10, for a total transaction of $1,870,583.40. Following the completion of the transaction, the executive vice president now directly owns 101,189 shares in the company, valued at approximately $6,587,403.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Randall C. Stuewe sold 100,000 shares of Darling Ingredients stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $62.43, for a total value of $6,243,000.00. Following the completion of the sale, the chief executive officer now directly owns 640,363 shares in the company, valued at approximately $39,977,862.09. The disclosure for this sale can be found here. Over the last three months, insiders sold 212,999 shares of company stock worth $13,533,010. 2.51% of the stock is owned by corporate insiders.
About Darling Ingredients
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.
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