Allspring Global Investments Holdings LLC Acquires Shares of 47,262 Darling Ingredients Inc. $DAR

Key Points

• Allspring Global Investments Holdings LLC acquired 47,262 shares of Darling Ingredients Inc., worth approximately $1.79 million, during the second quarter.
• In related news, CEO Randall C. Stuewe sold 35,000 shares of the company, decreasing his ownership by 4.29%, leaving him with 781,437 shares valued at around $24.16 million.
• Darling Ingredients' stock is currently down 3.6% and has a market capitalization of $4.85 billion, with analysts projecting earnings per share of 2.81 for the current fiscal year.

Allspring Global Investments Holdings LLC acquired a new stake in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 47,262 shares of the company's stock, valued at approximately $1,793,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cary Street Partners Investment Advisory LLC acquired a new stake in Darling Ingredients during the 1st quarter valued at approximately $30,000. Hexagon Capital Partners LLC lifted its holdings in Darling Ingredients by 33.3% in the first quarter. Hexagon Capital Partners LLC now owns 2,000 shares of the company's stock valued at $62,000 after acquiring an additional 500 shares during the period. GAMMA Investing LLC lifted its holdings in Darling Ingredients by 101.3% in the first quarter. GAMMA Investing LLC now owns 2,063 shares of the company's stock valued at $64,000 after acquiring an additional 1,038 shares during the period. Parallel Advisors LLC lifted its holdings in Darling Ingredients by 45.0% in the second quarter. Parallel Advisors LLC now owns 2,172 shares of the company's stock valued at $82,000 after acquiring an additional 674 shares during the period. Finally, Spire Wealth Management lifted its holdings in Darling Ingredients by 19.8% in the first quarter. Spire Wealth Management now owns 2,831 shares of the company's stock valued at $88,000 after acquiring an additional 468 shares during the period. 94.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Darling Ingredients news, CEO Randall C. Stuewe sold 35,000 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $30.92, for a total transaction of $1,082,200.00. Following the transaction, the chief executive officer owned 781,437 shares of the company's stock, valued at approximately $24,162,032.04. The trade was a 4.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.07% of the company's stock.

Darling Ingredients Stock Down 3.6%

Shares of DAR opened at $30.66 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 1.50. Darling Ingredients Inc. has a one year low of $26.00 and a one year high of $43.49. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 46.46, a PEG ratio of 1.83 and a beta of 1.22. The stock has a 50 day moving average price of $31.94 and a 200 day moving average price of $33.01.

Darling Ingredients (NYSE:DAR - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.03). The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. Darling Ingredients had a return on equity of 2.35% and a net margin of 1.85%.The business's quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the firm posted $0.49 EPS. Equities research analysts forecast that Darling Ingredients Inc. will post 2.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DAR shares. Baird R W cut Darling Ingredients from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Weiss Ratings restated a "sell (d)" rating on shares of Darling Ingredients in a research report on Wednesday, October 8th. JPMorgan Chase & Co. started coverage on Darling Ingredients in a research report on Wednesday, August 20th. They issued an "overweight" rating and a $43.00 price objective for the company. Jefferies Financial Group set a $42.00 price objective on Darling Ingredients in a research report on Wednesday, October 8th. Finally, Bank of America initiated coverage on Darling Ingredients in a research report on Wednesday, October 8th. They set a "buy" rating and a $45.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.25.

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.

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