Algert Global LLC Decreases Stake in Darling Ingredients Inc. $DAR

Key Points

• Algert Global reduced its Darling Ingredients stake by 7.4% in the second quarter, selling 20,409 shares and retaining 254,040 shares valued at approximately $13.9 million. Institutional investors own 94.44% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $69.00. Several firms raised their targets, including TD Cowen to $80 and JPMorgan to $79.
• Darling Ingredients reported strong quarterly results, earning $2.41 per share versus the $1.40 estimate and generating $1.72 billion in revenue. Revenue increased 16.4% year over year, while an insider purchase was offset by recent executive share sales.

Algert Global LLC reduced its holdings in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 7.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 254,040 shares of the company's stock after selling 20,409 shares during the quarter. Algert Global LLC owned approximately 0.16% of Darling Ingredients worth $13,876,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. Danske Bank A S purchased a new stake in Darling Ingredients during the 3rd quarter valued at approximately $25,000. Allworth Financial LP boosted its position in shares of Darling Ingredients by 227.2% during the 4th quarter. Allworth Financial LP now owns 733 shares of the company's stock worth $26,000 after purchasing an additional 509 shares in the last quarter. SJS Investment Consulting Inc. grew its position in Darling Ingredients by 69.9% during the first quarter. SJS Investment Consulting Inc. now owns 423 shares of the company's stock worth $26,000 after buying an additional 174 shares during the period. Litman Gregory Wealth Management LLC purchased a new position in Darling Ingredients in the 4th quarter valued at approximately $29,000. Finally, Leonteq Securities AG purchased a new stake in shares of Darling Ingredients in the 4th quarter worth about $35,000. 94.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on DAR. Barclays increased their target price on Darling Ingredients from $62.00 to $65.00 and gave the company an "equal weight" rating in a report on Monday, August 3rd. TD Cowen lifted their target price on Darling Ingredients from $70.00 to $80.00 and gave the company a "buy" rating in a report on Monday, July 27th. Wall Street Zen raised Darling Ingredients from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 15th. Zacks Research raised shares of Darling Ingredients from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 19th. 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 given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $69.00.

Darling Ingredients Stock Performance

DAR opened at $62.52 on Wednesday. The business has a fifty day simple moving average of $60.13 and a 200-day simple moving average of $58.57. The firm has a market cap of $9.87 billion, a PE ratio of 16.85 and a beta of 1.02. Darling Ingredients Inc. has a fifty-two week low of $29.15 and a fifty-two week high of $69.98. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.73.

Darling Ingredients (NYSE:DAR - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $2.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $1.01. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. Darling Ingredients had a return on equity of 12.98% and a net margin of 9.13%.The firm's quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. As a group, equities analysts predict that Darling Ingredients Inc. will post 6.98 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Charles L. Adair bought 1,000 shares of the business's stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average cost of $60.97 per share, for a total transaction of $60,970.00. Following the purchase, the director directly owned 51,690 shares in the company, valued at $3,151,539.30. This trade represents a 1.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Patrick Mcnutt sold 8,000 shares of Darling Ingredients stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $67.09, for a total value of $536,720.00. Following the sale, the executive vice president directly owned 35,777 shares in the company, valued at $2,400,278.93. The trade was a 18.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,591 shares of company stock valued at $704,303 in the last three months. 1.90% of the stock is owned by corporate insiders.

About Darling Ingredients

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.

Want to see what other hedge funds are holding DAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Darling Ingredients Inc. (NYSE:DAR - Free Report).

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