Darling Ingredients Inc. $DAR Shares Purchased by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in Darling Ingredients Inc. by 10.6%, owning approximately $48.4 million in shares as per its recent SEC filing.
• CEO Randall C. Stuewe sold 35,000 shares for around $1.08 million, reducing his ownership by 4.29% to approximately $24.16 million.
• Darling Ingredients reported a net revenue of $1.48 billion for the last quarter, slightly below expectations, with earnings per share of $0.09, missing the consensus estimate.

Northern Trust Corp increased its stake in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 10.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,550,422 shares of the company's stock after purchasing an additional 148,074 shares during the quarter. Northern Trust Corp owned 0.98% of Darling Ingredients worth $48,435,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of DAR. Heck Capital Advisors LLC acquired a new stake in shares of Darling Ingredients during the fourth quarter worth $25,000. Cary Street Partners Investment Advisory LLC acquired a new stake in Darling Ingredients in the first quarter valued at $30,000. Hexagon Capital Partners LLC lifted its holdings in Darling Ingredients by 33.3% in the first quarter. Hexagon Capital Partners LLC now owns 2,000 shares of the company's stock valued at $62,000 after acquiring an additional 500 shares during the period. UMB Bank n.a. increased its position in shares of Darling Ingredients by 207.1% in the first quarter. UMB Bank n.a. now owns 2,036 shares of the company's stock valued at $64,000 after buying an additional 1,373 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Darling Ingredients by 101.3% in the first quarter. GAMMA Investing LLC now owns 2,063 shares of the company's stock valued at $64,000 after buying an additional 1,038 shares in the last quarter. 94.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Darling Ingredients

In other news, CEO Randall C. Stuewe sold 35,000 shares of the business's stock in a transaction that occurred 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 directly owned 781,437 shares in the company, valued at approximately $24,162,032.04. The trade was a 4.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.62% of the company's stock.

Darling Ingredients Price Performance

DAR stock opened at $34.43 on Thursday. The company has a quick ratio of 0.89, a current ratio of 1.50 and a debt-to-equity ratio of 0.84. Darling Ingredients Inc. has a 52-week low of $26.00 and a 52-week high of $43.49. The stock's 50 day moving average is $34.95 and its two-hundred day moving average is $33.65. The company has a market capitalization of $5.45 billion, a PE ratio of 52.17 and a beta of 1.19.

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 (EPS) for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm earned $0.49 earnings per share. Darling Ingredients's revenue for the quarter was up 1.8% compared to the same quarter last year. Analysts predict that Darling Ingredients Inc. will post 2.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DAR. Tudor Pickering upgraded Darling Ingredients from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 11th. Jefferies Financial Group raised their price target on Darling Ingredients from $45.00 to $46.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Baird R W lowered Darling Ingredients from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. initiated coverage on Darling Ingredients in a research note on Wednesday, August 20th. They issued an "overweight" rating and a $43.00 price objective on the stock. Finally, Piper Sandler reduced their price objective on Darling Ingredients from $54.00 to $50.00 and set an "overweight" rating on the stock in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $43.57.

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.

Want to see what other hedge funds are holding DAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Darling Ingredients Inc. (NYSE:DAR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.