Cary Street Partners Financial LLC Invests $492,000 in Darling Ingredients Inc. (NYSE:DAR)

Key Points

• Cary Street Partners Financial LLC acquired a new stake of 15,740 shares in Darling Ingredients Inc., valued at approximately $492,000.
• 94.44% of Darling Ingredients' stock is currently held by institutional investors, indicating significant institutional interest in the company.
• Despite some analysts lowering their price targets and ratings, Darling Ingredients has a consensus rating of "Moderate Buy" with a target price of $45.86.

Cary Street Partners Financial LLC purchased a new position in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 15,740 shares of the company's stock, valued at approximately $492,000.

Several other institutional investors have also modified their holdings of DAR. LPL Financial LLC boosted its stake in shares of Darling Ingredients by 13.6% during the 4th quarter. LPL Financial LLC now owns 33,100 shares of the company's stock worth $1,115,000 after acquiring an additional 3,954 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in Darling Ingredients in the 4th quarter valued at approximately $646,000. Dynamic Technology Lab Private Ltd purchased a new stake in Darling Ingredients in the 4th quarter valued at approximately $243,000. FMR LLC lifted its stake in Darling Ingredients by 17.9% in the 4th quarter. FMR LLC now owns 3,919,542 shares of the company's stock valued at $132,049,000 after buying an additional 595,325 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in Darling Ingredients by 40.2% in the 4th quarter. Bank of Montreal Can now owns 157,327 shares of the company's stock valued at $5,300,000 after buying an additional 45,075 shares in the last quarter. Hedge funds and other institutional investors own 94.44% of the company's stock.

Darling Ingredients Stock Up 4.5%

Shares of NYSE DAR traded up $1.34 on Tuesday, hitting $31.08. The company had a trading volume of 1,617,453 shares, compared to its average volume of 2,372,808. Darling Ingredients Inc. has a 12-month low of $26.00 and a 12-month high of $43.49. The business has a 50 day moving average of $35.21 and a two-hundred day moving average of $33.96. 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 firm has a market capitalization of $4.92 billion, a P/E ratio of 47.10 and a beta of 1.19.

Darling Ingredients (NYSE:DAR - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.03). Darling Ingredients had a return on equity of 2.35% and a net margin of 1.85%. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same period in the previous year, the firm posted $0.49 earnings per share. The firm's revenue was up 1.8% compared to the same quarter last year. As a group, equities research analysts forecast that Darling Ingredients Inc. will post 2.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on DAR shares. Piper Sandler dropped their price objective on Darling Ingredients from $54.00 to $50.00 and set an "overweight" rating for the company in a research report on Monday, July 28th. TD Cowen cut their target price on Darling Ingredients from $37.00 to $34.00 and set a "hold" rating on the stock in a research report on Friday, April 25th. Citigroup reduced their price objective on Darling Ingredients from $45.00 to $44.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Jefferies Financial Group lifted their price objective on Darling Ingredients from $45.00 to $46.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Finally, Wall Street Zen raised Darling Ingredients from a "sell" rating to a "hold" rating in a research note on Friday, April 25th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.86.

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.