Assenagon Asset Management S.A. Raises Stock Holdings in Darling Ingredients Inc. $DAR

Key Points

• Assenagon Asset Management S.A. increased its Darling Ingredients stake by 72.9% in the first quarter, adding 882,185 shares to bring its total to 2,091,960 shares worth about $129.4 million.
• Wall Street sentiment remains broadly positive: the stock has a consensus rating of Moderate Buy with an average price target of $67.45, while several analysts recently raised targets into the $70s.
• Darling Ingredients reported stronger-than-expected quarterly results, posting EPS of $0.83 versus the $0.56 estimate and 12.3% year-over-year revenue growth, though revenue came in slightly below consensus.

Assenagon Asset Management S.A. boosted its position in Darling Ingredients Inc. (NYSE:DAR - Free Report) by 72.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,091,960 shares of the company's stock after purchasing an additional 882,185 shares during the quarter. Assenagon Asset Management S.A. owned approximately 1.32% of Darling Ingredients worth $129,388,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of DAR. Fideuram Asset Management Ireland dac bought a new stake in shares of Darling Ingredients during the fourth quarter valued at approximately $585,000. Fisher Asset Management LLC increased its holdings in shares of Darling Ingredients by 94.2% in the 3rd quarter. Fisher Asset Management LLC now owns 75,442 shares of the company's stock worth $2,329,000 after purchasing an additional 36,593 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Darling Ingredients by 75.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 601,263 shares of the company's stock worth $18,561,000 after purchasing an additional 258,942 shares in the last quarter. Citigroup Inc. raised its stake in shares of Darling Ingredients by 134.4% in the third quarter. Citigroup Inc. now owns 431,336 shares of the company's stock worth $13,315,000 after purchasing an additional 247,311 shares during the last quarter. Finally, Ninety One UK Ltd lifted its holdings in shares of Darling Ingredients by 28.3% during the fourth quarter. Ninety One UK Ltd now owns 518,796 shares of the company's stock valued at $18,677,000 after purchasing an additional 114,397 shares in the last quarter. Institutional investors own 94.44% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on DAR. UBS Group lifted their price objective on Darling Ingredients from $58.00 to $78.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. Robert W. Baird raised their price target on shares of Darling Ingredients from $64.00 to $75.00 and gave the company an "outperform" rating in a report on Tuesday, April 7th. TD Cowen reduced their price target on shares of Darling Ingredients from $76.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday. Barclays began coverage on shares of Darling Ingredients in a report on Monday. They set an "equal weight" rating and a $58.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Darling Ingredients from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Darling Ingredients currently has an average rating of "Moderate Buy" and a consensus price target of $67.45.

Darling Ingredients Price Performance

Shares of NYSE:DAR opened at $52.70 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $8.37 billion, a PE ratio of 38.19 and a beta of 1.02. The firm's 50 day moving average price is $59.38 and its 200-day moving average price is $51.69. Darling Ingredients Inc. has a twelve month low of $29.15 and a twelve month high of $66.02.

Darling Ingredients (NYSE:DAR - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.27. Darling Ingredients had a net margin of 3.54% and a return on equity of 5.65%. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period last year, the firm earned ($0.16) earnings per share. The company's quarterly revenue was up 12.3% on a year-over-year basis. Equities research analysts expect that Darling Ingredients Inc. will post 4.68 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Joseph Manzi sold 3,000 shares of Darling Ingredients stock in a transaction on 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 in the company, valued at approximately $1,275,819.41. The trade was a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.90% of the company's stock.

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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