Assenagon Asset Management S.A. Buys 120,674 Shares of Darling Ingredients Inc. $DAR

Key Points

• Assenagon Asset Management increased its Darling Ingredients stake by 5.8%, purchasing 120,674 shares to own 2.21 million shares, or approximately 1.39% of the company. Institutional investors collectively hold 94.44% of the stock.
• Darling Ingredients reported strong quarterly results, with EPS of $2.41 versus the $1.40 analyst consensus and revenue of $1.72 billion, up 16.4% year over year.
• Analyst sentiment remains positive: the stock has a “Moderate Buy” consensus rating and a $69 average price target, while shares opened at $59.37 and recently traded down 1.9%.

Assenagon Asset Management S.A. raised its stake in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 5.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,212,634 shares of the company's stock after buying an additional 120,674 shares during the quarter. Assenagon Asset Management S.A. owned about 1.39% of Darling Ingredients worth $120,854,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. SJS Investment Consulting Inc. increased its holdings in shares of 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 purchasing an additional 174 shares during the last quarter. Turtle Creek Wealth Advisors LLC boosted its stake in Darling Ingredients by 2.6% during the first quarter. Turtle Creek Wealth Advisors LLC now owns 7,625 shares of the company's stock worth $472,000 after buying an additional 196 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in Darling Ingredients by 2.9% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 7,776 shares of the company's stock valued at $481,000 after buying an additional 220 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Darling Ingredients by 3.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 7,701 shares of the company's stock worth $277,000 after acquiring an additional 267 shares during the last quarter. Finally, Basecamp Wealth Advisors LLC raised its holdings in shares of Darling Ingredients by 35.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 1,042 shares of the company's stock worth $64,000 after acquiring an additional 270 shares during the period. 94.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Charles L. Adair bought 1,000 shares of Darling Ingredients stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average price of $60.97 per share, with a total value of $60,970.00. Following the completion of the acquisition, the director directly owned 51,690 shares in the company, valued at $3,151,539.30. The trade was a 1.97% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. TD Cowen increased their price target on shares of Darling Ingredients from $70.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Barclays lifted their price target on shares of Darling Ingredients from $62.00 to $65.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. Weiss Ratings upgraded Darling Ingredients from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, July 15th. Zacks Research lowered Darling Ingredients from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 21st. Finally, Wall Street Zen raised Darling Ingredients from a "hold" rating to a "buy" rating in a research note on Sunday, July 5th. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Darling Ingredients has an average rating of "Moderate Buy" and an average price target of $69.00.

Darling Ingredients Stock Down 1.9%

Darling Ingredients stock opened at $59.37 on Friday. The firm has a market capitalization of $9.44 billion, a P/E ratio of 16.00 and a beta of 1.02. The company has a current ratio of 3.89, a quick ratio of 1.03 and a debt-to-equity ratio of 0.13. Darling Ingredients Inc. has a twelve month low of $29.15 and a twelve month high of $66.02. The stock's fifty day simple moving average is $58.55 and its 200-day simple moving average is $56.69.

Darling Ingredients (NYSE:DAR - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $2.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $1.01. Darling Ingredients had a return on equity of 13.23% and a net margin of 9.13%.The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the business posted $0.08 earnings per share. Darling Ingredients's revenue was up 16.4% compared to the same quarter last year. As a group, equities analysts expect that Darling Ingredients Inc. will post 6.98 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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