AIA Group Ltd Purchases New Stake in Darling Ingredients Inc. $DAR

Key Points

• AIA Group Ltd opened a new position in Darling Ingredients during the first quarter, buying 72,000 shares valued at about $4.45 million.
• Institutional ownership remains very high, with hedge funds and other investors holding 94.44% of the company’s stock, while insider ownership is just 1.90%.
• Wall Street sentiment is broadly positive: Darling Ingredients has a Moderate Buy rating, an average target price of $67.82, and recently reported earnings of $0.83 per share, well above estimates.

AIA Group Ltd acquired a new position in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 72,000 shares of the company's stock, valued at approximately $4,453,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Danske Bank A S acquired a new position in shares of Darling Ingredients in the 3rd quarter valued at about $25,000. Allworth Financial LP lifted its holdings in Darling Ingredients by 227.2% in the fourth quarter. Allworth Financial LP now owns 733 shares of the company's stock worth $26,000 after acquiring an additional 509 shares during the last quarter. SJS Investment Consulting Inc. boosted its stake in Darling Ingredients by 69.9% in the first quarter. SJS Investment Consulting Inc. now owns 423 shares of the company's stock valued at $26,000 after acquiring an additional 174 shares during the period. Litman Gregory Wealth Management LLC bought a new position in shares of Darling Ingredients during the fourth quarter valued at approximately $29,000. Finally, Leonteq Securities AG acquired a new stake in shares of Darling Ingredients during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 94.44% of the company's stock.

Insider Transactions at Darling Ingredients

In other news, CAO Joseph Manzi sold 3,000 shares of Darling Ingredients stock in a transaction on Friday, May 1st. The stock was sold at an average price of $63.89, for a total transaction of $191,670.00. Following the transaction, the chief accounting officer directly owned 19,969 shares in the company, valued at approximately $1,275,819.41. This trade represents a 13.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DAR. Wall Street Zen upgraded Darling Ingredients from a "hold" rating to a "buy" rating in a research report on Sunday, July 5th. Barclays boosted their price target on shares of Darling Ingredients from $58.00 to $62.00 and gave the company an "equal weight" rating in a report on Thursday, July 2nd. Scotiabank upped their price target on shares of Darling Ingredients from $61.00 to $70.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 22nd. Jefferies Financial Group lifted their price objective on shares of Darling Ingredients from $73.00 to $75.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Darling Ingredients from $78.00 to $79.00 and gave the company an "overweight" rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $67.82.

Darling Ingredients Trading Up 0.2%

Shares of NYSE:DAR opened at $63.25 on Monday. The company has a 50 day moving average of $58.39 and a 200-day moving average of $54.41. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82. The firm has a market cap of $10.05 billion, a P/E ratio of 45.83 and a beta of 1.04. Darling Ingredients Inc. has a twelve month low of $29.15 and a twelve month high of $66.02.

Darling Ingredients (NYSE:DAR - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.27. Darling Ingredients had a net margin of 3.54% and a return on equity of 5.65%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the business earned ($0.16) earnings per share. The business's revenue for the quarter was up 12.3% on a year-over-year basis. As a group, analysts anticipate that Darling Ingredients Inc. will post 4.67 earnings per share for the current fiscal year.

Darling Ingredients Company Profile

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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