abrdn plc Lowers Holdings in Darling Ingredients Inc. (NYSE:DAR)

abrdn plc decreased its stake in shares of Darling Ingredients Inc. (NYSE:DAR) by 52.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 564,094 shares of the company’s stock after selling 619,968 shares during the quarter. abrdn plc’s holdings in Darling Ingredients were worth $28,114,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Grantham Mayo Van Otterloo & Co. LLC raised its stake in shares of Darling Ingredients by 10.4% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,755,861 shares of the company’s stock worth $248,256,000 after purchasing an additional 446,483 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Darling Ingredients by 10.9% in the third quarter. Deutsche Bank AG now owns 3,858,209 shares of the company’s stock worth $201,399,000 after acquiring an additional 378,304 shares during the period. FMR LLC grew its holdings in shares of Darling Ingredients by 9.3% in the third quarter. FMR LLC now owns 3,204,162 shares of the company’s stock worth $167,257,000 after acquiring an additional 272,184 shares during the period. DNB Asset Management AS grew its holdings in shares of Darling Ingredients by 16.3% in the fourth quarter. DNB Asset Management AS now owns 1,492,158 shares of the company’s stock worth $74,369,000 after acquiring an additional 208,584 shares during the period. Finally, Channing Capital Management LLC grew its holdings in shares of Darling Ingredients by 23.5% in the third quarter. Channing Capital Management LLC now owns 1,383,150 shares of the company’s stock worth $72,200,000 after acquiring an additional 263,599 shares during the period. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Insider Activity

In other news, Director Kurt Stoffel acquired 8,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were bought at an average price of $41.62 per share, with a total value of $332,960.00. Following the completion of the purchase, the director now directly owns 10,571 shares in the company, valued at $439,965.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Scotiabank cut their price objective on Darling Ingredients from $73.00 to $57.00 and set a “sector outperform” rating for the company in a report on Thursday, April 11th. BMO Capital Markets dropped their price objective on Darling Ingredients from $60.00 to $57.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. Stifel Nicolaus decreased their target price on Darling Ingredients from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. JPMorgan Chase & Co. decreased their target price on Darling Ingredients from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 17th. Finally, Citigroup boosted their target price on Darling Ingredients from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.55.

Darling Ingredients Trading Up 0.6 %

DAR opened at $42.87 on Tuesday. The stock has a market cap of $6.85 billion, a price-to-earnings ratio of 10.77 and a beta of 1.29. The stock’s 50 day moving average price is $43.85 and its 200-day moving average price is $44.61. Darling Ingredients Inc. has a one year low of $38.97 and a one year high of $71.60. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.10 and a current ratio of 1.86.

Darling Ingredients (NYSE:DAR) last released its earnings results on Tuesday, February 27th. The company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.12). The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.65 billion. Darling Ingredients had a net margin of 9.54% and a return on equity of 15.05%. On average, equities analysts forecast that Darling Ingredients Inc. will post 3.32 EPS for the current year.

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.