Allspring Global Investments Holdings LLC Buys New Position in Darling Ingredients Inc. $DAR

Key Points

• Allspring Global Investments Holdings opened a new position in Darling Ingredients during the first quarter, buying 145,614 shares worth about $9.05 million. The stake represented roughly 0.09% of the company.
• Darling Ingredients reported strong quarterly results, with EPS of $0.83 beating estimates of $0.56 and revenue rising 12.3% year over year to $1.55 billion. Analysts still expect the company to earn 4.67 EPS for the full year.
• Wall Street sentiment remains largely positive, with several analysts maintaining or raising ratings and an average price target of $67.82. The stock was trading near its 52-week high at $64.77 and was up 1.3% on the day referenced in the article.

Allspring Global Investments Holdings LLC purchased a new stake in Darling Ingredients Inc. (NYSE:DAR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 145,614 shares of the company's stock, valued at approximately $9,051,000. Allspring Global Investments Holdings LLC owned approximately 0.09% of Darling Ingredients as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its stake in Darling Ingredients by 4.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,209,775 shares of the company's stock worth $43,552,000 after purchasing an additional 56,662 shares in the last quarter. Fideuram Asset Management Ireland dac bought a new stake in Darling Ingredients during the 4th quarter valued at about $585,000. BNP Paribas Financial Markets raised its holdings in Darling Ingredients by 26.8% in the fourth quarter. BNP Paribas Financial Markets now owns 1,310,516 shares of the company's stock worth $47,179,000 after buying an additional 277,233 shares during the last quarter. Ninety One UK Ltd raised its holdings in Darling Ingredients by 28.3% in the fourth quarter. Ninety One UK Ltd now owns 518,796 shares of the company's stock worth $18,677,000 after buying an additional 114,397 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Darling Ingredients by 75.6% in the third quarter. JPMorgan Chase & Co. now owns 601,263 shares of the company's stock worth $18,561,000 after buying an additional 258,942 shares in the last quarter. 94.44% of the stock is currently owned by institutional investors.

Darling Ingredients Stock Up 1.3%

Shares of DAR stock opened at $64.77 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82. Darling Ingredients Inc. has a 12 month low of $29.15 and a 12 month high of $66.02. The stock has a market cap of $10.29 billion, a P/E ratio of 46.93 and a beta of 1.04. The company has a 50 day simple moving average of $58.45 and a two-hundred day simple moving average of $55.00.

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, topping the consensus estimate of $0.56 by $0.27. Darling Ingredients had a return on equity of 5.65% and a net margin of 3.54%.The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the business posted ($0.16) EPS. Darling Ingredients's revenue was up 12.3% on a year-over-year basis. On average, research analysts expect that Darling Ingredients Inc. will post 4.67 earnings per share for the current year.

Insider Activity at Darling Ingredients

In other news, CAO Joseph Manzi sold 3,000 shares of Darling Ingredients stock in a transaction dated 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 of the company's stock, valued at $1,275,819.41. The trade was a 13.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is owned by company insiders.

Analyst Ratings Changes

DAR has been the subject of several analyst reports. Stephens raised their price target on shares of Darling Ingredients from $65.00 to $70.00 and gave the company an "overweight" rating in a research report on Tuesday, April 21st. Wall Street Zen raised Darling Ingredients from a "hold" rating to a "buy" rating in a report on Sunday, July 5th. JPMorgan Chase & Co. boosted their price target on Darling Ingredients from $78.00 to $79.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 12th. TD Cowen lowered their price target on Darling Ingredients from $76.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, June 23rd. Finally, Weiss Ratings raised Darling Ingredients from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, July 15th. 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $67.82.

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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