Bank of New York Mellon Corp Trims Position in Darling Ingredients Inc. (NYSE:DAR)

Bank of New York Mellon Corp trimmed its holdings in Darling Ingredients Inc. (NYSE:DAR - Free Report) by 14.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,611,200 shares of the company's stock after selling 613,758 shares during the period. Bank of New York Mellon Corp owned 2.28% of Darling Ingredients worth $112,814,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Heck Capital Advisors LLC acquired a new position in shares of Darling Ingredients during the fourth quarter worth about $25,000. UMB Bank n.a. increased its stake in shares of Darling Ingredients by 207.1% during the first quarter. UMB Bank n.a. now owns 2,036 shares of the company's stock worth $64,000 after acquiring an additional 1,373 shares during the period. GAMMA Investing LLC increased its stake in shares of Darling Ingredients by 101.3% during the first quarter. GAMMA Investing LLC now owns 2,063 shares of the company's stock worth $64,000 after acquiring an additional 1,038 shares during the period. Spire Wealth Management increased its stake in shares of Darling Ingredients by 19.8% during the first quarter. Spire Wealth Management now owns 2,831 shares of the company's stock worth $88,000 after acquiring an additional 468 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Darling Ingredients during the fourth quarter worth about $109,000. 94.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DAR has been the topic of a number of recent analyst reports. Jefferies Financial Group boosted their price target on shares of Darling Ingredients from $45.00 to $46.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Citigroup lowered their target price on shares of Darling Ingredients from $45.00 to $44.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Wall Street Zen upgraded shares of Darling Ingredients from a "sell" rating to a "hold" rating in a research report on Friday, April 25th. Tudor Pickering upgraded shares of Darling Ingredients from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 11th. Finally, TD Cowen lowered their target price on shares of Darling Ingredients from $37.00 to $34.00 and set a "hold" rating on the stock in a research report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.14.

Darling Ingredients Price Performance

Shares of DAR stock traded down $0.77 during trading hours on Friday, hitting $37.51. The company's stock had a trading volume of 2,048,433 shares, compared to its average volume of 2,257,317. The business has a fifty day moving average of $35.00 and a 200-day moving average of $34.18. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 35.06 and a beta of 1.23. Darling Ingredients Inc. has a twelve month low of $26.00 and a twelve month high of $43.49. The company has a current ratio of 1.40, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84.

Darling Ingredients (NYSE:DAR - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.20 by ($0.36). The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.45 billion. Darling Ingredients had a net margin of 3.02% and a return on equity of 3.78%. The firm's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 earnings per share. As a group, equities research analysts anticipate that Darling Ingredients Inc. will post 2.81 EPS for the current year.

About Darling Ingredients

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.