Darling Ingredients Inc. $DAR Shares Purchased by Sterling Capital Management LLC

Key Points

• Sterling Capital Management boosted its stake in Darling Ingredients by 448.5% in the first quarter, buying 42,962 additional shares and bringing its total to 52,542 shares worth about $3.25 million.
• Institutional ownership remains very high, with 94.44% of the stock held by hedge funds and other institutions; several large investors, including Vanguard and Dimensional Fund Advisors, also increased their positions.
• Darling Ingredients reported better-than-expected quarterly earnings of $0.83 per share, while revenue rose 12.3% year over year. Analysts remain generally positive, with a consensus rating of Moderate Buy and an average price target of $67.45.

Sterling Capital Management LLC lifted its position in Darling Ingredients Inc. (NYSE:DAR - Free Report) by 448.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,542 shares of the company's stock after purchasing an additional 42,962 shares during the quarter. Sterling Capital Management LLC's holdings in Darling Ingredients were worth $3,250,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Darling Ingredients by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 15,394,342 shares of the company's stock worth $554,196,000 after buying an additional 512,219 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Darling Ingredients by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,019,406 shares of the company's stock worth $288,704,000 after acquiring an additional 242,857 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Darling Ingredients by 6.0% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,122,104 shares of the company's stock worth $158,119,000 after acquiring an additional 287,665 shares during the last quarter. Davis Selected Advisers raised its position in Darling Ingredients by 15.8% in the fourth quarter. Davis Selected Advisers now owns 2,842,306 shares of the company's stock valued at $102,324,000 after purchasing an additional 388,366 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Darling Ingredients by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 2,839,649 shares of the company's stock valued at $102,249,000 after purchasing an additional 76,151 shares during the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.

Darling Ingredients Price Performance

Shares of DAR opened at $52.48 on Monday. The company has a market cap of $8.34 billion, a P/E ratio of 38.03 and a beta of 1.02. Darling Ingredients Inc. has a fifty-two week low of $29.15 and a fifty-two week high of $66.02. 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 firm's 50 day moving average price is $59.14 and its 200 day moving average price is $51.92.

Darling Ingredients (NYSE:DAR - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.56 by $0.27. The company had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.56 billion. Darling Ingredients had a net margin of 3.54% and a return on equity of 5.65%. The firm's revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.16) EPS. On average, research analysts forecast that Darling Ingredients Inc. will post 4.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DAR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on Darling Ingredients from $78.00 to $79.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 12th. Robert W. Baird increased their target price on shares of Darling Ingredients from $64.00 to $75.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 7th. Wall Street Zen cut shares of Darling Ingredients from a "buy" rating to a "hold" rating in a research report on Saturday. Zacks Research raised shares of Darling Ingredients from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 22nd. Finally, Stephens boosted their target price on Darling Ingredients from $65.00 to $70.00 and gave the company an "overweight" rating in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.45.

Insider Transactions at Darling Ingredients

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 value of $191,670.00. Following the completion of the transaction, the chief accounting officer directly owned 19,969 shares in the company, valued at approximately $1,275,819.41. This trade represents a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.90% of the company's stock.

About Darling Ingredients

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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