Assenagon Asset Management S.A. Trims Position in Darling Ingredients Inc. $DAR

Key Points

• Assenagon Asset Management S.A. has reduced its stake in Darling Ingredients Inc. by 28.1%, now holding approximately $42.98 million worth of shares.
• CEO Randall C. Stuewe sold 35,000 shares, equating to a 4.29% decrease in his ownership, following which he retains 781,437 shares valued at around $24.16 million.
• Several analysts have provided mixed ratings on Darling Ingredients, with the stock currently holding an average rating of "Moderate Buy" and a target price of $43.57.

Assenagon Asset Management S.A. trimmed its holdings in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 28.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,132,762 shares of the company's stock after selling 443,499 shares during the period. Assenagon Asset Management S.A. owned approximately 0.72% of Darling Ingredients worth $42,977,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in DAR. Vanguard Group Inc. boosted its position in Darling Ingredients by 0.5% during the first quarter. Vanguard Group Inc. now owns 15,641,921 shares of the company's stock worth $488,654,000 after acquiring an additional 73,925 shares during the last quarter. Gates Capital Management Inc. lifted its position in shares of Darling Ingredients by 18.7% during the first quarter. Gates Capital Management Inc. now owns 7,915,560 shares of the company's stock worth $247,282,000 after purchasing an additional 1,247,117 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Darling Ingredients by 15.9% during the first quarter. Dimensional Fund Advisors LP now owns 7,480,803 shares of the company's stock worth $233,701,000 after purchasing an additional 1,026,958 shares in the last quarter. Earnest Partners LLC lifted its position in shares of Darling Ingredients by 0.9% during the first quarter. Earnest Partners LLC now owns 4,082,416 shares of the company's stock worth $127,535,000 after purchasing an additional 36,085 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Darling Ingredients by 2.4% during the first quarter. Deutsche Bank AG now owns 3,394,250 shares of the company's stock worth $106,036,000 after purchasing an additional 78,770 shares in the last quarter. 94.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DAR. Piper Sandler reduced their price target on shares of Darling Ingredients from $54.00 to $50.00 and set an "overweight" rating on the stock in a research report on Monday, July 28th. Jefferies Financial Group lifted their price objective on shares of Darling Ingredients from $45.00 to $46.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Baird R W lowered Darling Ingredients from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. JPMorgan Chase & Co. initiated coverage on Darling Ingredients in a report on Wednesday, August 20th. They set an "overweight" rating and a $43.00 price target for the company. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $36.00 price objective (down previously from $40.00) on shares of Darling Ingredients in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $43.57.

Darling Ingredients Stock Performance

NYSE:DAR traded down $0.71 during midday trading on Monday, reaching $31.22. The stock had a trading volume of 2,545,800 shares, compared to its average volume of 2,400,163. The firm has a fifty day simple moving average of $32.84 and a two-hundred day simple moving average of $32.91. Darling Ingredients Inc. has a 12-month low of $26.00 and a 12-month high of $43.49. The company has a quick ratio of 0.89, a current ratio of 1.50 and a debt-to-equity ratio of 0.84. The stock has a market cap of $4.94 billion, a P/E ratio of 47.30 and a beta of 1.16.

Darling Ingredients (NYSE:DAR - Get Free Report) last posted 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). Darling Ingredients had a net margin of 1.85% and a return on equity of 2.35%. The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter last year, the business earned $0.49 earnings per share. The business's quarterly revenue was up 1.8% on a year-over-year basis. On average, equities analysts expect that Darling Ingredients Inc. will post 2.81 EPS for the current year.

Insider Buying and Selling

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

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.