Bank of New York Mellon Corp Buys Shares of 1,162,462 Darling Ingredients Inc. $DAR

Key Points

• Bank of New York Mellon acquired 1.16 million shares of Darling Ingredients, worth approximately $63.5 million, giving it a 0.73% stake. Institutional investors and hedge funds collectively own 94.44% of the company.
• Analyst sentiment is favorable, with a consensus “Moderate Buy” rating and an average price target of $69.00. Several analysts recently upgraded the stock or raised their price targets.
• Darling Ingredients reported quarterly EPS of $2.41, beating estimates of $1.40, while revenue rose 16.4% year over year to $1.72 billion. The stock was trading at $62.56, within its $29.15–$69.98 52-week range.

Bank of New York Mellon Corp bought a new position in Darling Ingredients Inc. (NYSE:DAR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,162,462 shares of the company's stock, valued at approximately $63,494,000. Bank of New York Mellon Corp owned approximately 0.73% of Darling Ingredients as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Danske Bank A S acquired a new position in Darling Ingredients during the third quarter worth $25,000. Allworth Financial LP boosted its stake in shares of Darling Ingredients by 227.2% during the 4th quarter. Allworth Financial LP now owns 733 shares of the company's stock worth $26,000 after acquiring an additional 509 shares in the last quarter. SJS Investment Consulting Inc. increased its holdings in shares of Darling Ingredients by 69.9% during the 1st quarter. SJS Investment Consulting Inc. now owns 423 shares of the company's stock valued at $26,000 after acquiring an additional 174 shares during the last quarter. Litman Gregory Wealth Management LLC acquired a new position in shares of Darling Ingredients during the 4th quarter valued at about $29,000. Finally, Leonteq Securities AG bought a new position in shares of Darling Ingredients in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 94.44% of the company's stock.

Analyst Upgrades and Downgrades

DAR has been the subject of a number of recent analyst reports. Weiss Ratings raised Darling Ingredients from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, August 11th. 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. Jefferies Financial Group upped their price objective on shares of Darling Ingredients from $73.00 to $75.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Wall Street Zen upgraded shares of Darling Ingredients from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 15th. Finally, Zacks Research upgraded shares of Darling Ingredients from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $69.00.

Insider Transactions at Darling Ingredients

In other news, EVP Nicholas James Kemphaus sold 1,591 shares of Darling Ingredients stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $63.05, for a total transaction of $100,312.55. Following the sale, the executive vice president owned 35,087 shares of the company's stock, valued at approximately $2,212,235.35. This trade represents a 4.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Joseph Manzi sold 1,000 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $67.27, for a total value of $67,270.00. Following the completion of the transaction, the chief accounting officer owned 18,969 shares of the company's stock, valued at $1,276,044.63. The trade was a 5.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 10,591 shares of company stock worth $704,303. Insiders own 1.90% of the company's stock.

Darling Ingredients Price Performance

Shares of Darling Ingredients stock opened at $62.56 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.56 and a quick ratio of 1.03. The company has a market cap of $9.87 billion, a PE ratio of 16.86 and a beta of 1.02. The firm has a fifty day moving average price of $60.31 and a two-hundred day moving average price of $58.68. Darling Ingredients Inc. has a fifty-two week low of $29.15 and a fifty-two week high of $69.98.

Darling Ingredients (NYSE:DAR - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $1.01. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. Darling Ingredients had a net margin of 9.13% and a return on equity of 12.98%. The business's revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.08 EPS. Analysts expect that Darling Ingredients Inc. will post 6.98 EPS for the current 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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